Crypto.com has become a global partner of Aston Martin’s Cognizant Formula One team ahead of the 2021 F1 season.
The luxury vehicle manufacturer returns to Formula 1 some sixty years after it first entered and competed in the World Championship and is set to unveil its new car on March 3 – ahead of the start of the 2021 F1 season at the end of the month.
Aston Martin first entered a team in the F1 back in 1959 but following two seasons where they failed to score any points decided to leave the sport at the end of the 1960 season. Six decades later the brand is now back in the world’s premier racing competition thanks in part to driver Lance Stroll leading an investment into Aston Martin, which saw the Racing Point F1 team rebranded to Aston Martin Cognizant this year. Four-time F1 World Champion Sebastian Vettel and Stroll will drive the team’s car’s in the 2021 F1 season.
The Aston Martin F1 Team website lists Crypto.com as one of 12 global partners, making the Hong Kong-based firm one of the biggest sponsors of the Stroll-led F1 team. The Daily Chain has confirmed that the sponsorship agreement is a three year contract and that F1 fans will see the Crypto.com logo on the Aston Martin Cognizant F1 car during the 2021 season.
The partners are set to collaborate and bring unique experiences to both fans of F1 and the vibrant cryptocurrency community. There has been much fanfare in the past when cryptocurrency firms have been involved in major sports sponsorships and this will be the first time a Formula 1 team has been sponsored by a company from the crypto space.
Aston Martin Cognizant commercial and marketing managing director Jefferson Slack said that the partnership showed that the new beginning for Aston Martin in the F1 has led to it embracing the attitude of companies that are at the forefront of innovation.
“This partnership with Crypto.com really puts the Aston Martin Cognizant Formula One team at the forefront of the boom in cryptocurrency and blockchain technology. It is an industry that is fast becoming mainstream and it is hugely exciting that we – as an innovative Formula One team – are building a strong relationship with a company that is leading the way in this important sector.”
Crypto.com taking crypto to a new audience
As the cryptocurrency space continues to enjoy growth in 2021 and markets maintain the exponential growth seen in recent months, a new audience is set to be introduced to cryptocurrencies via the Crypto.com logo visible on Stroll and Vettel’s Aston Martin Cognizant’s F1 cars.
The firm looks set to onboard more customers that might be drawn to its exchange, mobile app, crypto-friendly Visa cards and its recently launched DeFi wallet. It already serves over 10 million customers around the world
According to the official Formula 1 website, the audience figures of the 2020 F1 season were close to parity with the 2019 season despite dropping four races due to the Covid-19 pandemic.
The average audience per individual Grand Prix race in 2020 was touted to be around 87.4 mln people and the cumulative audience numbers for the season was rounded off to 1.5 billion people.
Should the 2021 Formula 1 season see an increase in viewership as the world slowly begins to overcome the Covid-19 pandemic, Crypto.com may well benefit from a sponsorship deal that attracts a large audience around the world.