Following the ‘crypto-sports’ marketing tradition, Crypto.com has partnered yet again with Formula 1 to become the official title partner of the new Formula 1 Crypto.com Miami Grand Prix, as revealed by an official statement.
In Brief:
- Formula 1 Crypto.com Miami Grand Prix logos will feature on the podium and winners’ trophies.
- Crypto.com has signed a nine-year deal for naming rights to F1’s newest race.
- Crypto.com had also bought a spot in the Super Bowl LVI to air an ad.
Formula 1 Crypto.com Miami Grand Prix logos will feature on the podium and winners’ trophies. The deal will also see the exchange’s brand displayed on the Crypto.com Terrace, with views over the track and an exclusive observation deck at the race’s fourth turn.
Interestingly, this development comes right before the airing of the Super Bowl LVI, which is one of the most popular and most watched sporting events in the US. Crypto.com has bought a spot in the event too to air an ad that could be seen by tens of millions.
Reportedly, NBCUniversal, part of Comcast Corp., sells 30 seconds of ad space during the game for about $6.5 million which is a million more than the previous year’s cost. Having said that, there has been no concrete information as to how much Crypto.com paid for its ad space as of yet.
Excited about the collaboration, Kris Marszalek, Co-Founder and Chief Executive Officer at Crypto.com, said “Building on our global partnership with Formula 1, we are thrilled to be the first commercial title partner of the Formula 1 Crypto.com Miami Grand Prix in the city that is fast becoming the crypto center of the U.S.”
He further added that ‘the intersection of Web3 and F1 Racing’ will create exciting experiences.
The third-largest crypto exchange, Crypto.com, was also in news last month when the firm lost $34 million in January after the firm’s security was breached by hackers.
