Formula 1 has revealed Crypto.com has joined its roster of sponsors and will be the partner of the championship’s Sprint series.
Crypto.com’s logos will have a trackside presence at each of the remaining Formula 1 races this season.
As part of the collaboration Crypto.com will also become the Official Cryptocurrency Sponsor and NFT Partner of Formula 1.
A brand-new award, presented by Crypto.com, will be announced ahead of the Belgian Grand Prix in August.
Crypto.com has previously outlined a pledge to become carbon negative by the end of 2022, focusing on addressing the carbon generated through cryptocurrency trading.
“We are thrilled to announce Crypto.com as a Global Partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year,” said Formula 1 Director of Commercial Partnerships Ben Pincus.
“We will rely heavily on their expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence.
“Crypto.com are revered in the industry and their experience was key in the decision to partner with them, as well as the company’s commitment to becoming carbon negative, as we continue to move towards sustainability goals of our own.”
Formula 1’s first Sprint Qualifying is due to take place at next month’s British Grand Prix, when a 100km race taking place on Saturday afternoon to determine the grid for the grand prix.
Sprint Qualifying is also scheduled to be part of the format for the Italian Grand Prix and the Brazilian Grand Prix, though the proposed Interlagos trial is due to be shifted to the United States Grand Prix.