The Most Popular Crypto Sponsorships In Motorsport


Because most of the big championships conclude around the end of the year, it`s always thrilling for motorheads. Fans will be riveted to their televisions for the last few months of the year as they watch their favorite drivers compete for victory on some of the most illustrious circuits in the world.

It`s a great time of year for advertising as well since they get more visibility during periods of fierce competition.

Fans will see hundreds of various company logos while watching, including those on the vehicles, the helmets and overalls of the drivers, the side of the racetrack, and even the on-screen visuals during TV broadcasts.

But if you pay closely, you`ll also see that numerous crypto enterprises have joined these brands.

Due to the emergence of cryptocurrencies in recent years, several exchanges and even individual coins have been able to get sponsorship and promotion arrangements, with some even suggesting they may replace traditional sponsors in the racing industry.

Source - Sponsors Formula1

The largest cryptocurrency sponsorship agreements are taking place in Formula 1.

This makes sense considering that F1 draws close to two billion television viewers throughout the course of its season, making it the biggest and most popular racing series on the globe. Additionally, the sport is the ideal partner due to its standing as a source of technical advancements and adventure.

The agreement reached between the competition itself and is the most noteworthy cryptocurrency sponsorship in Formula 1. The worldwide cooperation arrangement, which was finalized in June 2021, apparently has a five-year value of $100 million.

In return, each Grand Prix of Formula One has branding for all over the track. Additionally, to further increase its visibility, the business serves as the major sponsor for each and every Sprint Race that is held at particular occasions throughout the year.

The F1 teams also have gotten involved. Early in 2022, Red Bull and cryptocurrency exchange Bybit reached a $150 million agreement that is believed to last for three years. This increased the team`s already-existing sponsorship deal with the NFT project Tezos.

Though not the first to form a partnership of this kind, the current champions are. Eight of the 10 Formula one racing teams on the grid have partnered with cryptocurrency companies in recent years. This includes the agreements Alpine has with Binance, Velas at Ferrari, and Fantom with AlphaTauri. Alfa Romeo even used Floki sponsor advertising during the winter testing at Barcelona, not to be outdone.

There still remains a lot of money moving through the cryptocurrency market despite the recent downturns. In the upcoming years, it`s conceivable that we`ll witness even more accords.

F1 Tobacco Revolution

As cigarette advertising was outlawed, new craze categories entered the fray: financial institutions, computers and technology start-ups, wine and liquor labels. When one or more of these brands appeared on certain automobiles, others followed suit, lemming-like. It was inevitable: when beer brand Bitburger sponsored Benetton, its rivals in the market, Veltins and Warsteiner, respectively, were shown on the sides of Williams and McLarens.

The same applies to HSBC, RBS, Credit Suisse, Santander, or Dell, HP, and Lenovo. Therefore, it should come as no surprise that the newest trend in Formula One is related to blockchains, cryptocurrencies, and non-fungible tokens, with a number of teams currently boasting support from at least one such platform. The latest of the majors to follow that path is Ferrari, which supports Velas and uses the platform`s emblems in place of PMI`s "spacing."

Not to be beaten, Red Bull this year welcomed Bybit to their roster of NFT sponsors, joining Tezos and McLaren. The contract is reportedly worth $150 million over the course of three seasons. Mercedes is linked with the FTX App, and Aston Martin is supported by, an F1 corporate sponsor and owner of the naming rights to F1`s Sprint events, in a collaboration that parallels Marlboro`s dual F1 and squad agreements.

During testing in Barcelona, Red Bull team manager Christian Horner stated, "We`ve secured substantial deals over the winter. "The world is changing and expanding, and the entire cryptocurrency industry is intriguing. You can see it more and more in all sports," said the author.

Most Formula One Teams Have Joined The Celebration

A growing number of Premier League (or comparable) football clubs have ties to the industry, and notably for F1, eight of the ten teams in existence now have financial backing from one or more of the categories, with Fantom supporting AlphaTauri. While Alpine is associated with Binance, Sauber (running as Alfa Romeo) has already`s sponsorship and just announced the inclusion of the bitcoin meme Floki.

According to Sauber Team Principal Fred Vasseur in Spain, "Crypto and decentralized finance are some of the latest areas that have attracted interest in recent years, and they provide a tremendous potential area to build a company."

Even though Williams and Haas don`t have this support (yet? ), any sponsor agents deserving of the designation will sooner or later fill in the gaps. In fact, the previous squad is rumored to be looking towards adding a cryptocurrency sponsor, provided the company satisfies the club`s many conditions.

Similar to tobacco, there are growing legal, regulatory, and sustainable development concerns, but given that the total value of these sponsorships is estimated at $500 million, Formula One is unlikely to voluntarily reject what may soon amount to a billion dollars in support as a) more such crypto brands emerge, b) they "grow" and raise the sponsorship bar, and c) legislative interference closes off alternative marketing channels.

LGBCoin Joke Token

At the end of October, the NASCAR Cup Series will come to a conclusion, and according to odds comparison website OddsChecker, Chase Elliott is presently in the driver`s seat for the title.

Though his teammate Brandon Brown began the year debating whether he would be permitted to advertise the joke token LGBcoin, the favorite to win the greatest reward in stock car racing isn`t presently sponsored by a cryptocurrency firm. Let`s Go Brandon is what the "LGB" stands for.

Voyager Digital, the first NASCAR sponsorship to receive payment in bitcoin, declared bankruptcy in July. If not, a partnership may have persisted.

Even while a large portion of NASCAR`s audience falls inside the target market for blockchain-based currency, sponsorship arrangements connected to cryptocurrencies have actually been fairly scarce.

Earnity - Indycar’s New Crypto Sponsorship

IndyCar, NASCAR`s cousin, has seen more cryptocurrency sponsors donate money in return for publicity.

In fact, Ed Carpenter Motorsports has two distinct cryptocurrency arrangements. The group also declared in February that it has teamed up with Earnity, a cryptocurrency community and trading platform, in addition to having previously signed a contract with BitNile, a soon-to-be-launched cryptocurrency exchange.

Michael and Nicholas d`Orlando`s involvement in the Indy Toronto tournament back in July was supported in part by the cryptocurrency wallet company Totality Wallet.



*Cryptocurrency involves an element of financial risk and may be addictive please use RESPONSIBLY at your own risk

If You Like This Story, Support NYOOOZ



Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Related Articles