Red Bull inks Formula 1 sponsorship deal with Crypto firm

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The famed racing car constructors company, Red Bull recently announced its deal with cryptocurrency firm – FuturoCoin. This partnership is first of its kind for Formula 1 racing company to get sponsorship from cryptocurrency tech firm

Notably, there are other players in the racing arena who have embraced blockchain tech. If not through sponsorship but in some way or the other the virtual currency is used. For instance, Haas driver Romain Grosjean has attracted backing from SoccerCoin, whose logos will appear on his helmet this year

Certainly, the announcement from Red Bull Aston Martin  is going to attract lot of other professional sports to follow the same trend and explore this niche technology.

FuturoCoin Partnership with Red Bull

Reportedly, the Red Bull sponsor list  for 2019 Formula 1 Season will include FuturoCoin. As noted on popular racing publishing site TheCheckerdFlag, the energy drink company is all set to embrace the digital asset firm and popularize this trend.

On the promotional side, the digital asset firm FuturoCoin is claiming that with its wallet users can transact in four second duration and low fixed fees. Also, the base of this digital currency is forked from DASH.

The delighted Team Prinicipal of Red Bull Christian Horner commented that,

In recent years, the rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula One team to embrace this, through our partnership with FuturoCoin,

With the upcoming trend of decentralized technology, the Red Bull team is happy to be part of it. and Horner said – “Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution. ”

On the same lines, the elated and optimistic CEO of FuturoCoin,  Paulina Woźniak quoted that,

We are very proud that FuturoCoin will be the first cryptocurrency in the world to appear on a Formula One car. In addition, we are looking forward to working alongside Aston Martin Red Bull Racing, a prestigious brand that is recognised across the world

Apart from Formula 1 we can see that, cryptocurrency is becoming more popular other sports as well. The NBA team, Sacramento Kings became the first professional sports club to mine digital assets from their own stadium in June 2018.

This certainly is the rise of crypto across various platforms and great news for all crypto lovers out there.

Are you a F1 fan? What are your thoughts on this sponsorship? Share your thoughts in the comment section below.