Crypto.com just struck another Formula One sponsorship deal

abdelaziz Fathi

Crypto.com has struck a nine-year deal with the Formula One’s owners to sponsor the Miami Grand Prix race and have visibility in the arena.

The digital asset exchange had an agreement with organizers for the Grand Prix at the Hard Rock stadium, the home of the National Football League’s Miami Dolphins, to sponsor the event. Now officially known as the Formula 1 Crypto.com Miami Grand Prix, it will be the second US round, joining Austin and Texas, whose races report record crowds and up to 400,000 attendants.

Crypto.com will get some of the top-tier slots for advertising at the qualifying rounds and during the upcoming Miami Grand Prix campus. In addition to prominent signage across the circuit, Crypto.com branding package includes hospitality areas that feature 360 degrees views of the track, including an exclusive observation deck at Turn 4, it says.

“We are excited for our long-term title partnership with Crypto.com. We share their commitment to innovation and will apply those high standards to the fan experience at the Formula 1 ® Crypto.com Miami Grand Prix. This will be an international event and we look forward to growing together on a worldwide scale,” said Jeremy Walls, Senior Vice President, Chief Revenue Officer of Hard Rock Stadium & Formula 1 ® Crypto.com Miami Grand Prix.

Crypto.com is no stranger to racing

Crypto.com is no stranger to Formula One as they struck a sponsorship agreement last year for a reported $100 million. Even before that, the five-year-old cryptocurrency exchange signed a multi-year deal with Aston Martin Cognizant Formula One Team in March 2021. In both cases, the sponsorship deal brought exclusive experiences to Crypto.com fans, which also received branding on Aston Martin’s 2021 cars.

Crypto.com, which boasts Hollywood superstar Matt Damon as the face of the exchange, is said to have 10 million users. The exchange is portraying itself as a one-stop shop for everything crypto. Its range of services includes crypto trading, a Visa-branded physical card, staking, payments solutions, and an NFT marketplace.

Crypto.com CEO Kris Marszalek comments: “Building on our global partnership with Formula 1, we are thrilled to be the first commercial title partner of the Formula 1 Crypto.com Miami Grand Prix in the city that is fast becoming the crypto center of the US. Technology and innovation are at the core of what we do, which strategically aligns with the sport of racing, and together we will create exciting experiences at the intersection of Web3 and F1 Racing.

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