Crypto.com and Formula 1: The Miami Grand Prix Sponsorship,…
By Damilola Esebame
AI summary of the source article
Crypto.com initially entered a reported $100 million, five-year global partnership with Formula 1 in June 2021 as its first cryptocurrency sponsor. The relationship expanded to include a nine-year title partnership for the Miami Grand Prix, where cryptocurrency payments were introduced via the Crypto.com App for select food and beverage merchants. The partnership also created the fan-voted Crypto.com Overtake Award, recognizing outstanding on-track passes. In December 2024, Formula 1 extended the agreement through 2030. During the partnership period, Crypto.com reported its user base expanded tenfold, growing from 10 million users at the deal's inception to over 100 million by 2024.
Why it matters
Formula 1's growing demographic of younger, digitally native fans provides crypto platforms broad global brand visibility and opportunities to integrate real-world merchant cryptocurrency payments.
Key facts
- Crypto.com signed a reported $100 million deal with Formula 1 in June 2021 and extended it through 2030.
- The exchange secured a nine-year title partnership for the Miami Grand Prix, introducing crypto payments at select vendors.
- Crypto.com's user base reportedly grew from 10 million at the deal's launch to over 100 million by 2024.