In the summer of 2021, Formula One announced a partnership with one of the fastest-growing crypto exchanges, with over 10 million users worldwide, as the inaugural global partner of the new Sprint series. This important partnership elevates crypto to mainstream multi-media and introduces crypto to a mass audience who may not have any previous knowledge or awareness on the subject.

Then in February 2022, Formula One world champions, [Red Bull Racing](https://www.redbullracing.com/int-en), announced details of a sponsorship deal with a Singapore-based crypto exchange worth a reported $150 million. Although details on the deal are scant, it is understood to be the largest cryptocurrency sponsorship deal in international sport, signalling continued adoption and legitimacy for crypto.

The three-year deal sees the crypto exchange become a Red]Bull Racing ‘principal team partner’, with the aim to grow fan engagement and manage the issuance of the forthcoming fan token. The deal comes after the company became the main sponsor of the Argentinian national football team in November.

Lewis Hamilton, who is arguably the most famous and successful F1 driver currently racing for Mercedes, is sponsored to wear the branding of another crypto exchange. Further expanding global awareness across the Formula 1 fanbase.

## Fan tokens

Fan tokens are digital assets that enable sports teams, leagues, clubs, associations, and players to strengthen engagement with fans around the world. The rise of this unique area of digital assets is expected to continue throughout the year and into the near-term future, as more and more household names look to get involved. 

Holders of fan tokens are permitted to access a variety of fan-related membership perks such as voting on club decisions, rewards, merchandise design, and unique fan experiences. Fan tokens have the ability to democratise and organise fan engagement while giving the fan the opportunity to feel more involved. Unlike [NFTs](/news/category/nft-news), fan tokens are interchangeable and just like fiat, can be exchanged for merchandise, VIP experiences, and much more.

The world-class football player, Lionel Messi, recently signed a new contract with the French team PSG in which a percentage of his payment is being paid in the PSG Fan token. How long will it be before F1 drivers start getting paid in fan tokens by their teams?

## “At the forefront of technological innovation”
 
In a statement, Red Bull Racing team principal, Christian Horner, stated  that “the team’s passion to exist at the forefront of technological innovation, to set the competitive pace and to disrupt the status quo.” Horner went on to say that the partnership with the crypto exchange would enliven “the fan experience in F1 through digital innovation……  and will help us build a deeper, more immersive, and unique connection with the team for fans around the world.”



Formula One Teams Make Moves in Crypto

McLaren Racing have announced that they are launching their first collection of digital art NFTs on the Tezos blockchain. The collection enables buyers to build their own digital MCL35M Formula One car by purchasing parts of the popular F1 car.

You can unlock your first part of the MCL35M for free when you register through the collections website [here](https://mclarenracingcollective.com/redeem/MXfk65f3-Hsg_UcEdPDWEjojQUBWYGTc?%24web_only=true&_branch_match_id=959817314322695021).

## McLaren and Tezos Partner 

The first collection drop will include 22 digital components, and aims to serve a global community of collectors and fans.

The McLaren Racing team's Official Technical Partner, Tezos, are collaborating with McLaren to create the NFTs. Launching on the Tezos blockchain will ensure energy-efficiency for collectors.

According to the McLaren [website](https://www.mclaren.com/racing/partners/tezos/mclaren-racing-creates-mclaren-racing-collective/), the first collector to complete a full MCL35M digital F1 car will be rewarded with a VIP race weekend experience next year. The initiative hopes to drive long-term engagement with fans.



McLaren Racing Team Launch NFTs

Pierre Gasly has announced that he will be auctioning his own NFTs on the Fantom blockchain. Gasly is a Formula One driver for the Scuderia AlphaTauri team.

The unique NFTs will be redeemable for unique experiences with the driver and merchandise. Some of the prizes include VIP experiences, meet and greet with Gasly and collectable items such as his helmets.

## Gasly's First NFTs

Gasly tweeted: "LAUNCHING MY FIRST NFTs. Super excited to drop my first NFTs with Fantom tomorrow, it has been a very cool project so far, and I’m happy to share it with you now."

Gasly is the first F1 driver to drop a collection of NFTs and with Fantom being a 2021 sponsor of AlphaTauri, what better way to collaborate by combining motorsport with blockchain technology.

You can take a look at Gasly's collection [here](https://gasly.artion.io/#drop).

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