The Crypto.com (CRO) platform has signed a 9-year agreement to obtain the naming rights for the F1 Grand Prix of Miami. As part of the agreement, the race will be officially named under the Crypto.com brand and the company’s logo will appear on the podium and winners’ trophies.
Crypto.com signs new agreement with F1
On its Twitter account, cryptocurrency platform Crypto.com (CRO) announced the signing of a new agreement with F1.
From now on and for a period of 9 years, the exchange will hold the naming rights of the brand new F1 race: the Miami Grand Prix.
With this agreement, the race will be officially named “Formula 1 Crypto.com Miami Grand Prix”. In addition, the Crypto.com logo will appear on the podium and the winners’ trophies.
In addition, a Fan Zone will be set up in the center of Hard Rock Stadium and will feature various entertainment and activities throughout the weekend.
The race is new to the Formula 1 calendar. It is the fifth round of the campaign and will take place from May 6-8, 2022, at the Miami Gardens circuit with a distance of 5.41 km.
“We are excited about our long-term partnership with Crypto.com. This will be an international event and we look forward to growing together on a global scale,”said Jeremy Walls, Hard Rock Stadium’s Chief Revenue Officer.
Crypto.com, a pioneer in sports sponsorship
The cryptocurrency platform has become important in the Formula 1 industry. Indeed, Crypto.com has signed various agreements with teams and the organization.
Last summer, the exchange signed a 5-year deal with F1 for $100 million. As part of this collaboration, Crypto.com displays its brand at Formula 1 races and helps the organization develop non-fungible tokens (NFTs).
Another example is the multi-year agreement with the Aston Martin F1 team, which is making a comeback after a 60-year absence. The Crypto.com logo now appears on Aston Martin’s F1 cars and the companies are also working on creating products related to NFTs.