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- Aston Martin partners with Crypto.com, exposing both companies to new audiences, hopes to bring better opportunities and help develop a fresh perspective.
- McLaren joins Bitci.com to unveil their first fan token soon, and this weekend, the McLaren MCL35M race cars will represent Bitci.com at the 2021 Formula 1 season in Bahrain.
- Through Chiliz/Socios.com, an increasing number of significant soccer teams are now boarding the token fan bandwagon.
Racing is one of the few too many industries facing immense loss due to the COVID-19 pandemic. Derailed schedules and the lack of spectators have worsened fan engagement and deteriorated ticket sales. Although Grand Prix racing is planning a complete 23-race calendar this year, compared to the pre-COVID stats, the businesses still seem to be struggling.
To overcome that, the companies are now looking for better revenue streams, treading new waters to reinstate their fan engagement. A newfound solution to achieve both goals is digital “fan tokens,” and many big hitters have been readily embracing the idea, including Aston Martin and now McLaren too.
Aston Martin gains front-seat Tickets to Crypto-space
Aston Martin reentered Grand Prix racing just last year and is now establishing a strategic partnership with the leading cryptocurrency exchange Crypto.com. Chairman of Aston Martin Cognizant Formula One Team, Lawrence Stroll, believes, baring both companies to new audiences, the partnership will bring better opportunities and help develop a fresh perspective for both.
With similar beliefs, Jefferson Slack, Managing Director of the F1 team’s Commercial and Marketing unit, said the collaboration ensures Aston Martin a front seat ticket in the crypto industry. Slack acknowledges crypto and blockchain as moving towards its mainstream adaptation at an increasingly fast pace. As “an innovative Formula One team”, it excites them to partner with a firm leading in such an “important sector”. This addition will play significant support for the firm to achieve its vision of using motorsport to engage generations of fans while showcasing technology and innovation.
McLaren joins Bitci.com to launch F1’s first-ever Fan Tokens
Following Aston Martin, the Formula One constructor, McLaren has joined hands with Turkish crypto-firm Bitci.com and plans to launch its official fan token, the first-ever of its kind Formula 1 racing space. Turkey’s first native blockchain platform, Bitci Chain, was developed by Turkish engineers and software developers within Bitci Technology and will host the soon-to-be-unveiled token.
Delighted with the collaboration, McLaren Racing’s Chief Commercial Officer, Mark Waller, is looking forward to “working with Bitci.com” and representing their brand on the McLaren MCL35M race cars and driving accessories “at the start of the 2021 Formula 1 season in Bahrain this weekend.”
Sporting Firms Exploring Crypto-space
Meanwhile, several other sporting companies have also been exploring the crypto-space. Chili with Socios.com has led the sports-based fan tokens, and their partners include the Ultimate Fighting Championship (UFC) and the Professional Fighters League (PFL). Through Chiliz/Socios.com, an increasing number of significant soccer teams are now boarding the token fan bandwagon. The list includes, but isn’t limited to, Manchester City, FC Barcelona, Juventus, AC Milan, Paris Saint-Germain, AS Roma, Atlético Madrid and Galatasaray.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
