Crypto.com to sponsor Aston Martin’s Formula 1 team

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Cryptocurrency alternate service Crypto.com has inked a partnership take care of automobile maker Aston Martin to sponsor the latter’s Formulation 1 group.

Based on a report by Enterprise Insider, the collaboration is a multi-year sponsorship on the event of the British automobile producer’s return to the F1 circuit in 2021 after a 61-year absence. Nevertheless, the precise monetary particulars of the sponsorship deal haven’t been made public.

With the deal in place, Aston Martin’s F1 vehicles will probably be emblazoned with the Crypto.com brand presumably offering important publicity for the cryptocurrency alternate. According to Autoweek, the common viewing viewers for the 2020 F1 season was 87.4 million followers.

As beforehand reported by Cointelegraph, Crypto.com crossed five million users for the primary time again in October 2020. The alternate’s buyer base has since doubled to 10 million.

Commenting on the importance of the sponsorship take care of Aston Martin, Crypto.com co-founder and CEO Kris Marszalek mentioned:

“The truth that a cryptocurrency firm can go on the market and make a press release like this, and align with such a well-respected model with such an enormous custom as Aston Martin, it makes a press release that the trade is maturing.”

Aside from having its brand on Aston Martin’s F1 vehicles in the course of the 17-race season, Marszalek says the crypto alternate is trying to leverage the collaboration in selling different cryptocurrency-related merchandise.

Based on Jefferson Slack, business managing director of Aston Martin’s F1 division, the carmaker is keen to work with Crypto.com to achieve a greater understanding of the cryptocurrency house.

The Aston Martin government additionally revealed that the carmaker well-known for being featured within the James Bond collection can also be excited about markets like nonfungible tokens and fee programs.

Certainly, Crypto.com is likely one of the contributors within the expanding cryptocurrency debit card scene. Again in Could 2020, the corporate claimed that’s Visa playing cards have been the most widely available.

Crypto.com’s sponsorship take care of Aston Martin is just the most recent instance of a cryptocurrency agency collaborating with a sports activities enterprise. From Nascar to the English Premier League, digital forex corporations proceed to increase their business footprint in organized sports activities.