news 
Formula 1 Renews Crypto.com Partnership Through 2030
In a significant move, Formula 1 has announced the extension of its partnership with cryptocurrency exchange Crypto.com until 2030. This renewal solidifies Crypto.com’s position as the sport’s official cryptocurrency sponsor and title sponsor for the Miami Grand Prix.
The extended agreement comes amid substantial growth for both parties. Since the initial partnership began in 2021, Formula 1 has seen a significant increase in its global reach, boasting a fan base of 750 million people worldwide. Additionally, its digital platforms have become more engaging with the introduction of innovative racing formats such as Sprint qualifying series.
Similarly, Crypto.com has continued to build brand visibility through high-profile sports partnerships. The platform has been able to establish itself as a major player in the cryptocurrency exchange market despite being smaller than some of its competitors like Binance and Coinbase. This renewed agreement ensures that Crypto.com will maintain its role in Formula 1’s Sprint qualifying series, aligning with the sport’s efforts to innovate and introduce new racing formats to engage fans.
The partnership has also evolved alongside Formula 1’s broader digital transformation initiatives, which aim to provide a more immersive experience for fans through various technologies. This synergy has allowed both organizations to reach younger, tech-savvy audiences who are increasingly drawn to these innovations.
In its statement announcing the extension, neither party disclosed specific financial terms of the deal. However, this development demonstrates Formula 1’s ability to attract non-traditional sponsors while expanding its commercial relationships.
Source: blockonomi.com
