F1 and Crypto.com Partner for NFT's
Hong Kong-headquartered crypto platform Crypto.com has signed a multi-year deal to sponsor Aston Martin Cognizant Formula One Team, becoming its Official Global Partner - to "work together" on crypto-related products connected to payment systems and non-fungible tokens (NFTs).
Per Insider, Aston Martin F1's commercial managing director Jefferson Slack said that they aim to position themselves "at the forefront of innovation and technology," therefore also signing a sponsorship deal with American IT firm Cognizant - hence the official name. Slack reportedly suggested that the Crypto.com deal will not only result in its branding emblazoned on the car, but that they are also "planning to work together on products in the crypto space."
Furthermore, Slack was quoted as saying: "There are things called NFTs, which is where we want to push this, there are payment systems. We want to be with Crypto.com to understand this space."
He added in the press release that the partnership with Crypto.com puts Aston Martin Cognizant Formula One Team "at the forefront of the boom in cryptocurrency and blockchain technology."