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  • Writer's pictureIsabelle Korman

Formula 1 and FuturoCoin; why the Crypto Market Should Pay Attention

F1 season is upon us and you might have noticed an interesting new sponsorship for Aston Martin Red Bull Racing, newcomer cryptocurrency FuturoCoin, during yesterday's race in Melbourne. It is the first time that a crypto has sponsored a team in Formula 1, which sparks some major excitement in the industry.

With Max Verstappen finishing third after overtaking two-time defending Australian GP champion Sebastian Vettel halfway through the season-opening race, FuturoCoin has definitely hit the ground running. As of today, their price is $3.15, up 0.17% since yesterday's race. Chris Harfield, who spearheaded the sponsorship, says "Cryptocurrencies, as of right now, are cutting the edge. The technology is futuristic. And what Formula One does, it pioneers things in the automatic sector. Things that are for the future."

Being that the competition in the cryptocurrency market has very little room for gutless participants, the next few months should bring some insight as to how it will react to the recent FC/RBR partnership and what kind of platforms might be used for mass-market exposure. The current total crypto market cap is around $140bn with 2,108 cryptocurrencies currently on the list.

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