Cryptocurrency is racing ahead with Formula 1

The title-clinching Grand Prix this weekend will be great advertising for the likes of cryptocurrency exchanges Crypto.com 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 Crypto.com, FTX, with the former inking a $100m deal to sponsor Formula 1.

Crypto.com 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 Crypto.com Overtake Award, which rewards the driver who makes the most overtaking manoeuvres throughout the season.