From Soccer To F1, The New Sponsors Are Crypto Platforms

This article was co-written by Giada Palma.

The year 2021 was marked by the entry of cryptocurrencies into the world of soccer. Of all sports, soccer proved to be the most receptive and interested in the opportunity to discover new funding and engagement for their fans. And while soccer players display the logos of cryptocurrency platforms, the world of Formula One is now joining in.

The Early Adopters — Soccer: In 2021, A.S. Roma announced a multi-year partnership agreement worth 35 million euros with Zytara Labs, the fintech company founded by Al Burgio that develops innovative products and platforms.

The agreement, which mixes finance and soccer faith, is supported by the DigitalBits blockchain, which has become the team's official global cryptocurrency.

Later in the year, Inter Milan followed Roma's example by posting a similar announcement on its website. This agreement is worth 85 million euros. Like Roma, the club plans to integrate the access of accounts on Zytara within its own app, while fans will be able to purchase tickets in cryptocurrencies and access featured experiences.

Related Link: Messi, Ronaldo And More: Find Out Which Soccer Players And Teams Have Been Leading The Crypto Charge

So what about F1? Crypto.com closed an agreement with Liberty Media Formula One (NASDAQ: FWONK)  making it the main sponsor of the Formula One World Championship. In addition, eight of the 10 teams are sponsored by digital platforms and Red Bull Racing, the team behind the world champion Max Verstappen, recently closed a three-year deal with Bybit worth $150 million.

Formula One seems ready to become the next colossal marketing platform for projects related to cryptocurrencies, and will seek the opportunity to raise awareness and recognition of its brand with the nearly 50 million followers across social media platforms.

Photo: Screenshot of Vitesse vs. Roma via CBS Sports Golazo Europe YouTube