As crypto continues to break into several sectors of society, the latest world to feel the storm of the digital asset is the Motorsport world with its partnership with Crypto exchange firm, crypto.com.
Crypto.com recently partnered with car maker Aston Martins Formula 1 team to become its official sponsor.
The collaboration is a multi-year sponsorship as the car makers return to the F1 tracks this year having been absent from the tournament for over 60 years. Both Aston Martins and Crypto.com, however, did not make the detail of the partnership public.
What we know after the partnership is that Aston Martins Formula 1 cars would carry the logo of the crypto exchange firm. That way the F1 team provides more exposure for the exchange firm and crypto generally. Autoweek reports that the average viewing audience of F1 during the 2020 season was 87.4 million fans.
The audience is a large one for crypto.com that recently just crossed five million users for the first time in 2020. Its user base has doubled since then, however, as it now serves more than 10 million users.
Aston Martins excited about partnership with exchange firm
Both firms’ management expressed excitement about the new deal they were able to ink.
Crypto.com co-founder and CEO, Kris Marszalek spoke highly of crypto after the deal. He said for a crypto firm to align with such a big and respected brand with a huge tradition like Aston Martins, its an evidence the industry is growing.
He further revealed that apart from having its logo on Aston Martins F1 cars, the exchange is looking at promoting other crypto-related products.
Jefferson Slack, managing director of Aston Martins F1 division, they are eager to work with crypto.com to better understand the cryptocurrency space. He revealed that they are also interested in markets like nonfungible tokens and payment systems.
Crypto.com partnership is only the latest example of a crypto firm collaborating with a sporting outfit. Digital currencies have been expanding their commercial footprints into the organized sports sector with partnerships in the English Premier League and NASCAR among others.
— Crypto.com (@cryptocom) March 2, 2021
Crypto and sports
Blockchain firm, Sorare has been the frontrunner aligning digital assets with sports. The blockchain firm has tokenized several football teams like Bayern Munich, Barcelona, Paris Saint-Germain, Atletico Madrid, Juventus among others on Ethereun 2.0 blockchain. It developed NFTs towards improving the relationship between these teams and their football fans.
It also developed fantasy games where football stars like Messi, Lewandowski, Mbabpe, and Neymar are present such that these NFTs are expended on these players in the fantasy game.