Formula 1 announce Crypto.com as inaugural global partner of the F1 Sprint series
Formula 1 has today announced Crypto.com, the fastest-growing crypto platform with over 10 million users worldwide, as the inaugural global partner of the new Sprint series for 2021, with the first event at Silverstone on Saturday July 17th, at the Formula 1 Pirelli British Grand Prix.
The new Sprint format will see the drivers battle it out over 100km on Saturday afternoons of the selected Grand Prix weekends, with the result from the Sprint then deciding the starting grid for Sunday’s full distance Grand Prix.
Crypto.com, will also have a trackside presence at every race for the remainder of the season as part of a leading global partnership deal with Formula 1.
A statement from F1 said: "In addition to building the world’s fastest growing crypto platform and the leading app in both the App Store and Google Play, the Crypto.com Visa Card is the world’s most popular crypto card available in 30+ countries world-wide. Partnering with Formula 1 will ensure Crypto.com continue to grow their brand awareness on an international stage.
"As F1 continues to explore new ways for fans to engage and become more immersed in the sport, Crypto.com will also become the Official Cryptocurrency Sponsor and NFT Partner of F1. Mirroring the fan-first approach F1 has adopted to engage with new audiences, Crypto.com aim to democratize the world of cryptocurrency for fans, through education and experiences in the new partnership. Crypto.com will also present a brand new award, which will be announced ahead of the Belgian Grand Prix.
"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'.
"This plan will initially focus on an assessment of the carbon generated through cryptocurrency trading, deposit and withdrawal activities across all of its own platforms, before reevaluating the ways it operates throughout the business outside of trading."
Stefano Domenicali, President and CEO, Formula 1, said: “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, Director of Commercial Partnerships at Formula 1, said: “We are thrilled to announce Crypto.com as a Global Partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year. We will rely heavily on their 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 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.”
Kris Marszalek, co-Founder and CEO of Crypto.com, added: “We are extremely proud to be the first cryptocurrency sponsor of Formula 1, joining a prestigious collection of brands supporting a sport with technology and innovation at its core.
"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.”