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Formula 1 Renews Crypto.com Partnership Through 2030
Formula 1 has announced a multi-year extension of its partnership with cryptocurrency exchange Crypto.com, solidifying the collaboration through 2030. The renewal maintains Crypto.com’s position as Formula 1’s official cryptocurrency sponsor and title sponsor for the Miami Grand Prix.
Notably, both organizations have experienced substantial growth since the initial agreement in 2021. Formula 1 has expanded its global reach, boasting a massive fan base of 750 million people worldwide, accompanied by a television audience of over 300 million viewers and physical event attendance numbers exceeding 10 million spectators annually. Meanwhile, Crypto.com has made significant strides in establishing brand recognition through high-profile sports partnerships.
The partnership extension allows both organizations to continue their collaboration on Formula 1’s Sprint qualifying series, where Crypto.com has been an integral partner since the format’s inception. The agreement also grants the exchange branding rights and activation opportunities at Grand Prix events worldwide, further reinforcing its presence across Formula 1’s digital platforms and physical venues.
This renewed commitment underscores Formula 1’s ability to attract non-traditional sponsors while broadening its commercial relationships. Notably, this deal comes as the broader cryptocurrency industry faces increased regulatory oversight and market volatility. The extended agreement ensures Crypto.com’s continued involvement in the sport, allowing it to maintain a strong brand presence through Formula 1’s global events.
The partnership has also evolved alongside Formula 1’s digital transformation initiatives, as the sport increasingly adopts new technologies and digital experiences for fans. This alignment has enabled both organizations to reach younger, tech-savvy audiences more effectively.
In a joint statement released on Thursday, the two entities reaffirmed their commitment to working together through the end of the decade.
Source: blockonomi.com
