Crypto.com has made a move into the mainstream, with a bold deal to become the official sponsor of the new F1 Sprint series during 2021. Already considered to be the fastest-growing cryptocurrency platform in the world, Crypto.com’s F1 deal, puts it in pole position to grow its own user base, while also supporting the whole crypto economy’s mainstream penetration. FI is entering a new era – fuelled by crypto.
Crypto.com Fast Off the Grid with F1 2021 Sponsorship Deal
Prior to the 2021 Formula 1 season, the F1 brand announced a link-up with Crypto.com, which has become the inaugural global partner of the new F1 Sprint Series. The new event, raised the flag at the Silverstone, on Saturday July 17th, during the Formula 1 Pirelli British Grand Prix. According to analysts, the deal between Formula One and Crypto.com, is worth $100 million and gives Crypto.com premium branding opportunities for the duration of the season’s sprint events, with billboard exposure, set to make the platform a household name.
The exciting new ‘sprint format’ was considered to be a brilliant marketing opportunity for the Crypto.com brand – attracting a young, dynamic and crypto-embracing fanbase, across the world. The F1 Sprint Series, sees the world’s best drivers, such as Lewis Hamilton and Sebastian Vettel, duel over 100km on Saturday afternoons on each Grand Prix weekend, with the battle defining the starting grid positions for the following day’s classic Grand Prix race.
Crypto.com Leverages F1 to Grow 10M User Base
Crypto.com is already the fastest-growing crypto platform in the world, with over ten million users across the globe. The brand is hoping that the visibility gained via the F1 Sprint Series deal, will help gain a rush of new customers, from a market that’s rapidly gaining traction, but still in relative infancy.
Crypto.com’s own experts, suggested that there were around 106 million global crypto users, at the start of 2021, up a staggering 16% from the December 2020.
Data from financial advisory experts, deVera, also suggests that 70% of its clients, aged over 55, had already divested into crypto assets, or were planning on doing so, during 2021.
The F1 consumer market, therefore looks an ideal opportunity to target both a young new crowd via the Sprint Series, in addition to the already established (and typically more mature) consumer base.
F1 Delighted to Help Drive Global Crypto Adoption
According to a statement from F1, there are a host of reasons why the brand was delighted to strike an exclusive sponsorship partnership with Crypto.com. Firstly, F1 was keen to partner with a brand who are building the fastest growing crypto platform and a leading crypto App for users of the App Store and Google Play.
Additionally, the fact that Crypto.com’s Visa Card is the world’s most popular cryptocurrency card across the globe, marks the company down as a market-leader in the exciting new digital world: “In addition to building the world’s fastest growing crypto platform and the leading app in both the App Store and Google Play, the Crypto.com Visa Card is the world’s most popular crypto card available in 30+ countries world-wide. Partnering with Formula 1 will ensure Crypto.com continue to grow their brand awareness on an international stage.”
Crypto.com Adds to its F1 Portofolio
Crypto.com’s $100M deal with Formula One, sees the brand building on its previous forays into motorsport in 2021. In March 2021, the brand created a collaboration with the Aston Martin Cognizant Formula One team, to create NFTs to capture the new Aston Martin F1 car on the track for the first time. Crypto.com CMO Steve Kalifowitz, revealed how their team-up with Aston Martin Racing, enabled the creation of NFT collectibles including, the first footage of Sebastian Vettel and Lance Stroll driving the new car.
The foray of crypto brands such as Crypto.com into mainstream sport, isn’t just about growing its customer base – it’s also an opportunity for brands such as F1 teams, to utilise the power of blockchain concepts, such as NFT, for their own marketing and brand evolution. Crypto.com is already looking at deals in other international sports, with a marketing plan to put the brand into the mass consciousness and potentially become the ‘Google of Crypto platforms’.
The Formula One Sprint Series is an exciting new era for for F1 – fuelled by the $100M Crypto.com sponsorship deal for 2021. The exclusive deal, is already putting Crypto.com out to a global audience of hundreds of million, which is predicted to secure the brand’s position, as the fastest growing crypto platform and crypto card provider.