Crypto.com Becomes Formula 1 Inaugural, Global, and NFT Partner

Adoption Bitcoin Crypto.com Cryptocurrency Marketing NFT
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Journalist
Journalist
Sead Fadilpašić
Author Categories
About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

10m-users-strong crypto platform Crypto.com has become both the inaugural partner and one of the global partners of the Formula 1 ‘Sprint’ series, as well as their non-fungible token (NFT) partner.

Source: Adobe/BILLOU

Global partners are the overall brand sponsors of F1 in general and are the highest level sponsors. Crypto.com is the only inaugural partner of the new Sprint series. Terms of the agreement were not provided, but people familiar with the pact told CNBC it’s a five-year deal that totals over USD 100m.

According to the press release, the series kicks off on July 17 at the Silverstone Circuit in Silverstone, United Kingdom, ahead of the Formula 1 Pirelli British Grand Prix 2021.

Crypto.com will have a trackside presence at every race for the remainder of the season as part of a leading Global partnership deal with F1, said the announcement, adding that this partnership will ensure Crypto.com “continue to grow their brand awareness on an international stage.”

According to Ben Pincus, Director of Commercial Partnerships at Formula 1, the championship team will rely “heavily” on Crypto.com expertise “as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence.”

Crypto.com will also become the Official Cryptocurrency Sponsor and NFT Partner of F1, and will present a brand new award to be announced ahead of the Belgian Grand Prix that is set for late August.

Kris Marszalek, Co-Founder and CEO of Crypto.com, said the company will be working with F1 on the development of exclusive NFTs.

“Aligning with the sustainability plans for F1 to be Net Zero Carbon as a sport by 2030 Crypto.com announced an ambitious pledge in May 2021 to become carbon negative within 18 months, offering the industry a path and a model for “clean crypto”,” they said.

At first, the plan will focus on an assessment of the carbon generated through crypto trading, deposit, and withdrawal activities across the company’s own platforms, after which they will re-evaluate its operations outside of the trading business.

Pincus added that both the company’s experience in the crypto industry, as well as the commitment to becoming carbon negative were key in the partnership decision “as we continue to move towards sustainability goals of our own.”

In February, Crypto.com said its user base doubled in the previous four months, surpassing the 10m users milestone. The company’s strategic goal is 100m users by 2025, which they said they could reach by 2023. It also stated its revenues grew 10x in 2020, without providing further information.

Crypto.com has a history of sports sponsorships, having previously partnered with the Aston Martin Cognizant Formula 1 team, with NHL team Montreal Canadiens, as well as with the Italian football league Lega Serie A.
____
Learn more:
Crypto.com Aiming to Hit 100 million User Target by 2023 as CRO Surges
Crypto.com’s CRO Doubles On Sudden Massive Burn News

Regulatory Kaleidoscope Challenges Crypto Industry – Crypto.com CCO
FTX Scores USD 210M Deal In E-Sports
____
(Updated at 16:08 UTC with a report about the potential size of the deal.)

More Articles

Price Analysis
Will Trump’s Tariffs Boost Bitcoin: Down 5% Again
Arslan Butt
Arslan Butt
2025-02-08 14:39:24
Price Analysis
Solana Struggles: Price Down Almost 15% in a Week – Is It Time to Buy?
Arslan Butt
Arslan Butt
2025-02-08 13:22:54
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors