The cryptocurrency firm has agreed to a nine-year deal.

South Florida Motorsports has announced a long-term sponsorship deal with cryptocurrency firm Crypto.com which will see the latter become the Official Title Partner of the Miami Grand Prix.

The Miami Grand Prix, which is set to debut in May, will be known as the Formula One Crypto.com Miami Grand Prix, with Crypto.com gaining extensive marketing access throughout the race weekend. 

The nine-year partnership will also see the cryptocurrency platform’s branding feature across the Crypto.com Terrace hospitality area and Crypto.com Fan Zone. The two parties will also collaborate to develop the Web3 internet ecosystem across the venue.

Jeremy Walls, Senior Vice President, Chief Revenue Officer of Hard Rock Stadium and Formula One Crypto.com Miami Grand Prix, commented:

“We are excited for our long-term title partnership with Crypto.com. We share their commitment to innovation and will apply those high standards to the fan experience at the Formula One Crypto.com Miami Grand Prix. This will be an international event and we look forward to growing together on a worldwide scale.”

Kris Marszalek, Co-Founder and Chief Executive Officer at Crypto.com, added:

“Building on our global partnership with Formula 1, we are thrilled to be the first commercial title partner of the Formula 1 Crypto.com Miami Grand Prix in the city that is fast becoming the crypto centre of the U.S. Technology and innovation are at the core of what we do, which strategically aligns with the sport of racing, and together we will create exciting experiences at the intersection of Web3 and F1 Racing.”

Crypto.com’s title partnership with the Miami Grand Prix further expands and strengthens its relationship with Formula One, given it has already served as a Global Partner to Formula One in 2021 and currently sponsors the Sprint series, which was launched in the 2021 season.

The inaugural Crypto.com Miami Grand Prix will be held between the 6th and the 8th of May, 2022, at the Miami International Autodrome inside the Hard Rock Stadium, Miami.