Formula 1 popularity is at an all-time high, as the league outpaced any other major sports league in terms of growth in 2021. According to a report from Formula 1, “The season finale in Abu Dhabi drew 108.7m viewers, +29% higher than the same race in 2020 – and the highest viewing figures for a race during the season.” beating the Super Bowl LVI in simultaneous viewer numbers.
After this historical milestone had been reached, the world of F1 was treated to another surprise, as Crypto is seen all over Formula 1: Crypto.com. Formula 1 has just announced Crypto.com as its inaugural global partner of the F1 Sprint series:
“As F1 continues to explore new ways for fans to engage and become more immersed in the sport, Crypto.com will also become the Official Cryptocurrency Sponsor and NFT partner of F1.”
Additionally, Aston Martin NFT drops have been announced in conjunction with Crypto.com – a drop of 3 tiers, which increase in rarity and open more exclusive rewards at higher price levels.
It can be argued that the year 2022 is the year for Formula 1 fans, as they can look forward to even more growth around Formula 1, bigger budgets, and more Netflix series.
The company Formula X is following this growth with the goal of bringing F1 fans closer to the front rows of the fast-growing sport through their NFT collections.
Formula X is a collection of 8,888 utility-packed Formula 1 racing helmets with realistic designs and varying degrees of rarity.
The first Formula X collection is set to disrupt the so-called “rarity scale” of the NFTs by giving the owners control. According to the project’s founders, “the worth of an NFT should not simply be tied to the number of traits it has.” The Formula X NFT holders will have the ability to influence the rarity of their Formula X Helmet via rarity points, called the “X-Score”, which can be earned in different ways e.g. by getting likes on their unique NFT. The one with the highest X-Score will be leading the rarity race, hence unlocking VIP F1 experiences.
Additionally, the holders will become part of 10 different teams, sponsored by racing-related companies delivering utility and perks to the team, thereby providing a unique opportunity for real-life companies to tap into the digital world of NFT technologies with their businesses.
More information about Formula X is available on the company’s official website.