Aston Martin Red Bull Racing has announced a new partnership with FuturoCoin.
It is the first time a cryptocurrency has sponsored a team in Formula 1.
Aston Martin Red Bull Racing team principal Christian Horner said: “In recent years, the rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula 1 team to embrace this, through our partnership with FuturoCoin.
“Secure digital currencies are on the leading edge of technological development, and we are very excited to be part of this revolution.”
The agreement will see FuturoCoin branding feature on the Aston Martin Red Bull Racing RB15 car, team transporters, and drivers’ overalls.
Roman Ziemian, co-founder of FuturoCoin, added: “Cryptocurrencies and Formula 1 are very similar and their values are much alike; speed, technology, and being ahead of their time.
“I’m a huge fan of motorsport and F1 has always intrigued me. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of FuturoCoin.”
Paulina Woźniak, CEO of FuturoCoin’s management company, said: “We are very proud that FuturoCoin will be the first cryptocurrency in the world to appear on a Formula 1 car.
“In addition, we are looking forward to working alongside Aston Martin Red Bull Racing, a prestigious brand that is recognised across the world.”
In 2014, Dogecoin sponsored a NASCAR race car. The community came together to raise $55,000 for the sponsorship.