Cryptocurrency is racing ahead with Formula 1

Ahead of the season-ending Abu Dhabi Grand Prix this Sunday, Coin Rivet looks at the impact crypto is having on motorsport

The title-clinching Grand Prix this weekend will be great advertising for the likes of cryptocurrency exchanges and FTX who’ve signed exclusive deals with Formula 1 and the Mercedes-AMG Petronas team.

It’s been sponsorship galore this year between F1 and the top companies in the cryptocurrency industry.

Sunday’s Abu Dhabi Grand Prix will decide the 2021 championship, with reigning champion Lewis Hamilton and  Max Verstappen entering the race level on points.

Lewis Hamilton and Mercedes will certainly have the support of FTX, who signed a long-term sponsorship deal with the racing team, with the FTX logo being displayed on both the cars and drivers.

The contest will undoubtedly draw attention globally, which is music to the ears of the likes of, FTX, with the former inking a $100m deal to sponsor Formula 1. also partnered with the F1 team Aston Martin Cognizant, after a 60-year absence from the sport, as well as launching a collection of NFTs of the first moments of the team’s return to the Grand Prix.

The world’s leading cryptocurrency exchange had certainly planted its roots within Formula 1, leading to the Overtake Award, which rewards the driver who makes the most overtaking manoeuvres throughout the season.



Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Footprint: How decentralised exchanges are reducing slippage and gas fees

Next Article

Coinbase introduces DeFi yields for Dai stablecoin in 70 countries

Read More Related articles