Organizers of the Miami Grand Prix have signed a new nine-year agreement with the world’s fastest-growing cryptocurrency platform, Crypto.com.
Following its partnership with Formula One, Crypto.com has been announced as the first commercial partner for the event. To become the official global sponsor of the sport, the currency exchange platform agreed to a five-year, $100 million deal in June.
This is just one of several collaborations Crypto.com has been involved in, including a relationship with the Super Bowl LVI. This partnership provided Crypto.com with advertising space in its games, allowing it to reach over 100 million viewers.
Attendees will be able to observe Crypto.com logos throughout the area along with:
- The Crypto.com Terrace hospitality area will include 360-degree views from an exclusive observation platform located at the track’s fourth turn. Fans will be able to participate at the first level.
- The Crypto.com Fan Zone is located in the heart of Hard Rock Stadium and offers a variety of events and entertainment throughout the weekend.
- The Miami International Autodrome will be the site of the event from May 8th to the 10th.
Moreover, it’s also the first commercial partnership revealed ahead of the maiden race at Miami Gardens’ new 5.41km circuit, which will take place as a result of this long-term agreement.
Co-Founder and CEO of Crypto.com Kris Marszalek stated: “We are happy to be the first commercial title partner of the F1 Crypto.com Miami Grand Prix in the city that is swiftly becoming the crypto centre of the United States.”
In addition, the Crypto.com Fan Zone will be located in the middle of the Hard Rock Stadium and will feature entertainment and activities over the whole weekend.
“Technology and innovation are at the heart of what we do and that is strategic to racing, together we will develop fascinating experiences at the junction of Web3 and F1 Racing”, concluded Marszalek.
Consolidation Of Crypto.com Prices Before Resuming Its Uptrend
The price of Crypto.com may retreat and find important support levels before moving higher. On the 4-hour chart, the exchange token has established an ascending parallel channel, suggesting a 26% rise from the topside trend line toward $0.73.
Before the bullish trend continues, CRO may, on the other hand, look at critical lines of defence. In the case of Crypto.com pricing, the first line of defence is the $0.50 four-hour SMA (Simple Moving Average). The 50 four-hour SMA at $0.46 could provide a new vantage point for investors.
Furthermore, Crypto.com price may go for the 78.6% Fibonacci retracement level at $0.52 next, before aiming for the upper limit of the ruling technical pattern at $0.56 if buying pressure increases.
If the current chart pattern’s topside trend line is broken decisively, we can expect a 26% rise to $0.73.
A Surprise Visit To F1 School Students With Hard Rock Stadium Tickets
F1 in Schools was founded in 2000 with the goal of using Formula 1 as a vehicle to introduce students to a variety of design, engineering, project management, and marketing concepts. F1 in Schools is one of the greatest global educational programs dedicated to increasing student and school child understanding of Science, Technology, Engineering, and Mathematics (STEM).
“Formula 1 in Schools will be a fundamental component of our new 10-year engagement with the sport. Hopefully, while they’re still young, our children will be able to learn something that will help them succeed in the fields of science, technology, and engineering.”, says Miami Gardens Mayor Rodney Harris.
Seeking Education Empowers Knowledge program directors won tickets to see Maluma at Hard Rock Live at Seminole Hard Rock Hotel & Casino Hollywood on May 5 as a result of a surprise ticket giveaway. Formula 1 Crypto.com and Lovely’s On The Go, a black-owned business in Miami Gardens, served meals to participants
Conclusion: Final Thoughts!
To meet F1’s goal of net-zero carbon emissions by 2030, as well as the enormous energy consumption required to mine one Bitcoin, the mining industry has become a major contributor to climate change.
Since cryptocurrency investors are looking for global platforms that provide immediate exposure, young, vibrant, and financially secure demographics with a sense of adventure and a thirst for new technology and business opportunities in high-end settings with a dash of “edginess”, Formula One is an obvious choice.