The Authoritative List of Web3 Formula 1 Sponsors in 2024

The 2024 F1 season is well underway, and it appears that web3 sponsors have cemented themself as a mainstay in the sport… and why the hell not? This is one of the most high-profile and elite sports, with a worldwide audience, and a rather affluent fanbase. If you are a crypto project that wants attention, F1 might just be the hottest ticket in town.

Each season brings with it a new slate of web3 sponsors, joining the OGs that have become synonymous with some of the top teams. In this article we will break down the authoritative list of every web3 sponsor in Formula 1.

What Web3 & Crypto Companies Sponsor F1 Teams in 2024?

Let’s dig into it. This list is ordered by 2023 constructor championship standings and includes their past and present crypto-industry sponsors.

But first, we can’t skip over one of the most prominent web3 sponsors in the sport, who is partnered with F1 at the championship series level.

Formula 1 Global Crypto Sponsor: Crypto.com

Crypto.com is in its 4th year as a primary sponsor of the F1 world championships and can be seen on the barriers, billboards, and backdrops of all 24 races this season.

Crypto.com was established in 2016. It now has more than 10 million customers and offers various services like the Crypto.com app, Crypto.com Visa Card, Crypto.com Exchange, and Crypto.com DeFi Wallet. They have also launched Crypto.com NFT, a platform for collecting and trading NFTs from different fields like art, design, entertainment, and sports.

As one of the most trusted, secure, and widely used exchanges in web3, it’s no wonder that they have become so prominent in the sport. In fact, crypto.com has become my fiat on/off-ramp of choice due to their amazing user experience, reasonable fees, and wide range of available assets and supported networks. But my favorite feature of all is their zero waiting period to transfer crypto.

Unlike most other centralized exchanges you can immediately purchase tokens, add an external wallet, and transfer your crypto out in just a few minutes. This is clutch when you are trying to go from fiat to a DEX trade or NFT mint requiring a browser wallet.

Want to try out crypto.com for yourself? Use our link to sign up and when you apply for their Ruby Visa card both you and DRVN will receive $25 in CRO.

01 / Oracle Red Bull Racing

Bybit

In 2022 RedBull signed a $150M 3-year deal with Singapore based centralized Exchange Bybit. At the time it was the single largest Web3 sponsorship seen int the sport.

With their contract ending in the 2024 F1 season it remains to be seen if they will extend their contract into the coming years. However, with RedBull’s dominance in the sport and the volume of assets and collectibles being rolled out from this partnership, Bybit has very good reason to ensure their logo remains large and in-charge on the RB livery.

Bybit / RedBull Collections

Oracle Red Bull Racing Velocity Pass 2.0

$SPEED Token

Lei the Laightning, Azuki Champ

Sui

The layer-1 blockchain and smart contract platform that was born out of Facebook’s ill-fated Diem blockchain project. Mysten Labs’ innovative EVM network, Sui has established itself as a major player in the L1 space.

RedBull Racing and Sui partnered to bring race fans an expanding range of immersive digital experiences. Beginning in 2023, this will be a multi-year partnership. While no collaborative web3 experience has been released yet, it is surely right around the corner.

Tezos

In 2022 the partnership between RB and Tezos was terminated early, after a few seasons with the team. Word on the street is that is was the result of an argument over the size and placement of the Tezos logo. However, in that time they did release quite a few NFT collections via the Sweet Tezos app.

Tezos is an open-source digital-collectibles focused layer-1 blockchain that, for all its IP deals and NFT collections has struggled to gain the mainstream adoption it has been chasing. While their arrangement with the Bulls was no longer amicable, Tezos did sign on for a sponsorship deal with McLaren that persisted through the 2023 season.

Tezos / RedBull Collections

Red Bull Racing NFTs

02 / Mercedes-AMG PETRONAS F1

The 2024 season of F1 has not brough any new web3 sponsors to the once dominant Petronas team. This may well be due to being burned by their partnership with the infamous FTX exchange.

FTX

Swiftly following the massive FTX collapse in 2022, Mercedes suspended their partnership with the exchange and removed their logo from all of their team graphics, cars, website, and merchandise. This resulted in a reported $15M loss for the team. The partnership inked in 2021 lasted less than two seasons. But in that time they did release a collection of FTX backed NFTs.

FTX / Mercedes Collections

GP Ticket Stubs & Limited Edition NFTs paired with the physical rear wing of Hamilton and Russel’s cars.

I have not been able to find these collectibles on any of the Solana NFT exchages. When I do, they will be linked here.

03 / Scuderia Ferrari

Another prominent F1 team foregoing web3 sponsorships in the 2024 season is the legendary Scuderia Ferrari. However, they have ventured into the crypto space in previous years with their blockchain partner, Velas.

Velas

Ahead of the 2023 season Ferrari lost their blockchain partner, Velas. This loss resulted in a $30M shortfall for the team. The sponsorship followed the lead of many other teams, with their sites set on a collaborative digital-collectible offering.

Reports say that Velas backed out of the deal after the team was noncompliant with terms required for Velas to create NFT images.

04 / McLaren

OKX

First partnering with the McLaren F1 team in 2022, crypto exchange OKX doubled down on their sponsorship through the 2024 season. This resulted in a larger footprint across the teams brand, and new web3 activations within the OKX ecosystem.

Rumor has it that the success of the OKX Race Club at the 2023 Singaproe GP that brought in over 7,000 attendees and resulted in the creation of 3,000 OKX Web3 wallets was the proof point that CMO, Rafique Haider needed to deepen their relationship.

The partnership has resulted in a number of digital collections.

OKX / McLaren Collections

NFTs not yet available.

Tezos

Starting in 2021 and running through the 2023 season, Tezos sought the partnership with McLaren they hoped they would have with RedBull. Few details are available but it appears that Tezos pulled out of the sport entirely at the end of 2023.

This partnership saw various collectibles minted. However, OKX is now the sole purveyor of NFTs for the McLaren brand.

Tezos / McLaren Collections

McLaren F1 Team 23/23 Collectibles

McLaren Moments

McLaren Racing Collective

05 / Aston Martin Aramco

The third team in the series that is currently not sporting a web3 sponsor on their livery is the British (now Canadian) sportscar manufacturer, Aston Martin.

When it was announced a few months ago that Apecoin DAO was entering F1 by sponsoring one of the top 6 teams, Aston Martin was surely an obvious candidate. Recent new has since proven that assumption to be wrong, leaving Aston fans to wonder if and/or when they will venture back into the web3 space.

Crytpo.com

This partnership led the way for the influx of web3 brands sponsoring F1 teams. First announced in March 2021, Crypto.com was the undisputed champion of crypto-company air time, sponsoring both Aston Martin and the larger F1 series.

Given their stellar reputation, security, and product offerings it is heartening to see them remain in the sport, if even at the F1 Global Partner level. Their presence has done a lot to mitigate the fallout from FTX and the uncertainty of the industries involvement in the sport throughout the 2022-2023 crypto-winter.

Crypto.com / Aston Martin Collections

AMR21

AMR22

Inspire Empower

06 / BWT Alpine

Binance

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure providers. It became one of a handful of unicorns during the 2021 bull run, and while it has had some recent troubles, including the convicton of the CEO, CZ - Binance remains among the top exchanges in the world.
 
Following thier partnership in 2022 Binance, they launched the $ALPINE Fan Token. A utility token that powers the fan experience by unlocking unique “fan moments” through exclusive rewards such as: once-in-a-lifetime experiences, limited edition NFTs, exclusive voting rights on certain club decisions reserved for fans and collectible fan badges.

As of the 2024 season this partnership is still going strong

Binance / Alpine Collections

$ALPINE Fan Token

ApeCoin

Making their debut during the 2024 Miami Grand Prix, ApeCoin and Alpine joined forces to bring the fun back to non-fungible digital-collectibles.

The full scope of this partnership has yet to be realized, but there are lots of hints and allusions to their shared plans laid out in the original Apecoin DAO proposal. Needless to say it was captivating enough for the DAO to approve the sponsorship and commit to an 2 year arrangement worth €5,125,000.

To kick things off, the ApeCoin and Bored Closet released a tool allowing people to outfit any Bored Ape or Mutant Ape with an Alpine race suit. Ownership of a BAYC or MAYC not required.

We will be sure to report on all the future developments of this collab in the Daily DRVN newsletter.

07 / Williams Racing

Kraken

Kraken is one of the world’s longest standing cryptocurrency exchanges, serving over 10 million clients around the world. In the competitive would of F1, fellow sponsors Binance, OKX, and Crypto.com can be seen as their rivals.

In 2023, Kraken boldly took on the role of the presenting sponsor for a multitude of electrifying Williams Racing Fan Zone experiences, and this unwavering commitment will persist well into 2024. These extraordinary fan zones grant unparalleled access to the esteemed Williams Racing F1 team, showcasing captivating driver Q&As, exhilarating autograph signings, thrilling esports competitions, top-notch merchandise, and a plethora of exclusive experiences that can only be unlocked through Kraken's very own Williams Racing Collectibles + Grid Pass.

Kraken / Williams Collections

Williams Grid Pass

08 / Visa Cash App RB

Cash App

In a move that stunned F1 fandom, RedBull Racing’s junior team, Alpha Tauri was renamed for the 2024 season to feature co-title sponsors Visa and Cash App. They now go by Visa Cash App RedBull, or VCARB for short.

The deal was said to be valued at $20M per year. Although it is undisclosed how much Visa and Cash App are contributing respectively.

Cash App is a San Francisco based financial services company specializing in simplified online banking similar to Venmo. While they are not your hardcore crypto-first financial disruptor, they make this list because they offer one of the easiest methods to puchase Bitcoin, and roundup card purchases to DCA into Bitcoin directly through their app.

If you want to try out Cash App for yourself, use the link below to get $5 free when you create your account. Then, I suggest you buy yourself some Bitcoin. Future you will thank me.

09 / Stake F1 Team Kick Sauber

Stake

Following suit with VCARB, Sauber’s outgoing Alfa Romeo title-sponsorship lead to another co-branded tongue twister. Stake F1 Team Kick Sauber. The team will fly this banner until Audi takes over in 2026.

Stake came onboard as a co-title sponsor during the 2023 season, subsequently elevating their status to title-sponsor for the 2024 and 2025 season.

Stake.us is an online casino and sportsbook powered by cryptocurrency. This tracks, given the high-risk high-reward sport of F1 and the similarly stacked world of crypto. So if the daily rollercoaster of crypto prices aren’t enough action for you, try your hand at winning big from their wide selection of games.

Unfortunately Stake doesn’t serve people from the following states: Washington, Nevada, Idaho, New York, Kentucky, Michigan, Vermont.

Everdome

Everdome is revolutionizing the metaverse landscape by spearheading the development of an unparalleled hyper-realistic virtual realm. Their mission is to forge an unrivaled web3 experience, seamlessly merging brands and individuals. With their cutting-edge NFTs, groundbreaking land sales, thriving marketplaces, and top-tier avatars, Everdome is poised to redefine existence in the virtual realm.

In a remarkable display of their enduring partnership that began in 2022, Everdome has unveiled an awe-inspiring showcase within the magnificent Everdome City SPACES. This extraordinary arena has been meticulously crafted to commemorate the remarkable six-year collaboration between the esteemed powerhouses, Alfa Romeo and Sauber Motorsports, in the pinnacle of motor racing.

Floki

While short lived, memecoin Floki sponsored the then Alfa Romeo team for the 2022 season. In addition to the F1 team sponsorship, Floki also sponsored the Alfa Romeo eSports team. The cryptocurrency has not announced any further plans to be involved in F1 beyond the 2022 season.

10 / Moneygram Haas

Rounding out this exhaustive list of web3 sponsors in Web3 is the beloved but beleaguered HAAS F1 team.

To date, the team has never had a sponsor from the web3 sector, but if we at DRVN Labo continue to hit our goals, perhaps we can change that!

Did I miss any past or present sponsors? Let me know and I will be happy to update this article.

For more updated on the crossover of F1 and Web3, as well as weekly recap of the digital vehicle culture, please subscribe to DRVN Culture.