In another impressive development for the cryptocurrency space and the Crypto.com ecosystem, the leading digital currency exchange has secured a partnership with Formula 1.
Announcing the new partnership via an official blog post, Crypto.com said it has become the inaugural partner of the new Formula 1 Sprint series for 2021.
— Crypto.com (@cryptocom) June 29, 2021
As a result of the partnership, Crypto.com’s brand logo will be present at every F1 event for the whole season. The season scheduled to begin on Saturday, July 17, 2021, and Silverstone will feature the crypto exchange logo at trackside.
In addition to having trackside slots at F1 events, Crypto.com noted that the partnership will boost the exchange’s popularity globally.
Stefano Domenicali, President and CEO of Formula 1, in a statement expressed his excitement with the new partnership. According to him, “We are pleased to welcome Crypto.com to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation.”
Ben Pincus, Formula 1’s Director of Commercial Partnerships, noted that Crypto.com partnership will usher the organization into the cryptocurrency space. He explained that the collaboration will bring fans closer to the sport and assist the organization explore the crypto world.
Pincus said, “[…]Crypto.com are revered in the industry and their experience was key in the decision to partner with them, as well as the company’s commitment to becoming carbon negative, as we continue to move towards sustainability goals of our own.”
Crypto.com to Facilitate Formula 1 NFT Launch
As a result of the partnership, Crypto.com would also become Formula 1 official cryptocurrency sponsor, and NFT partner. The new initiative according to the announcement is to bring fans closer to the sport.
The exchange also noted that both platforms will collaborate to achieve F1’s net-zero carbon vision as a sport by 2030. Crypto.com previously revealed its mutual goal of becoming carbon negative within 18 months.
Expressing his excitement with the partnership Kris Marszalek, Crypto.com’s CEO, said the exchange was Formula 1’s first cryptocurrency sponsor. He added, “[…]We look forward to many years of innovating together, and will begin at the Belgian Grand Prix where we will present a brand new award. We’re also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways.”
Additionally, it is important to note that Crypto.com has partnered with several other major sporting organizations. Notably, the exchange was the first to partner with a National Hockey League team (Montreal Canadiens). Also, it recently announced a partnership with Aston Martin Cognizant Formula One.
As of the time of publication, Crypto.com CRO’s price has risen by 2.9% over the last 24 hours. CRO was trading at $0.114813 with a 24-hour trading volume of $57,297,207, and a market cap of $2,900,894,575.
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