Cryptoactives roll in Formula One with sponsorship of the Red Bull team.
The Red Bull Racing team will become the first of the Formula One to be sponsored by a cryptoactive project. The team, four times champion of the world, made public this Tuesday, February 5, a multi-year agreement with representatives of FuturoCoin (FTO), a little known cryptocurrency within the crypto ecosystem.
The deal will be maintained during the 2019 and 2020 campaigns, and includes exposure of the crypto-active brand in the RB15 cars driven by Max Verstappen and Pierre Gasly, as well as in the own clothing of the pilots, mechanics and team leaders, according to Red. Bull through a statement.
On the agreement, Christian Horner, sports director of the team, said that cryptocurrencies and all the technology behind them, have grown significantly. In addition, he pointed out that the crypts “are at the forefront of technological development and we are very excited to be part of this revolution.” The financial details of the deal were not disclosed.
It is striking that a little known project of the crypto ecosystem reaches a society in the advertising arena with a Formula One team, one of the most expensive sports and that mobilizes millions of people in the world.
At the time of writing this article, FuturoCoin was ranked 1799, on the CoinMarketCap list, that is, in a lagging place without showing its market capitalization.
The volume of commercialization of the cryptoactive, in the last 24 hours, was 325,000 US dollars, with a price of 4.95 USD and an advance of 0.33% between Monday and Tuesday. In your repository the project has 9 tools available.
For Roman Ziemian, co-founder of FuturoCoin, the intention of the deal is to “generate awareness about the cryptoactive”, which was presented in November 2017, with a maximum emission of 100 million units. Other executives who lead the project are Stephan Morgenstern and its CEO, Paulina Woźniak.
Although it is the first time that cryptoactives have reached Formula One, in the past other user groups have sponsored racing teams in the United States or Mexico. One of the most emblematic cases was that of DogeCoin, which in 2014, appeared in the US Nascar category.
On that occasion, a group of users of reddit developed a fundraising campaign to reach the $ 50,000 needed by pilot Josh Wise to participate in one of the valid championships.
In Mexico, a vehicle belonging to the Telmex team, a participant in the Nascar Mexico Series, wore the AirBit Club brand in 2017, a company that has been accused by the National Securities Market Commission of Spain (CNMV) of operating without the due to registration, which has indicated it as a potential ponzi scheme.
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