Aston Martin Red Bull have announced a two-year deal with FuturoCoin to secure Formula One’s first ever cryptocurrency sponsorship.
The agreement will see the global cryptocurrency’s branding featured on the UK-based motorsport team’s cars and transporters as well as on the overalls of drivers Max Verstappen and Pierre Gasly.
The financial terms of the arrangement, which was co-brokered by WH Sports Group and CAA Sports, were not disclosed.
“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,” said Aston Martin Red Bull Racing team principal Christian Horner.
“Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution.”
FuturoCoin founder Roman Ziemian added: “Cryptocurrencies and Formula One are very similar and their values are much alike; speed, technology and being ahead of their time.
“I’m a huge fan of motorsport and Formula has always intrigued me. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of FuturoCoin.”
Red Bull finished third in last year’s constructors’ championship, and will be looking to challenge for their fourth title when the new season begins on 17th March.