Applications and Use Cases

Fantom Blockchain Signs Official Sponsorship Deal with Formula One

April 06, 2021

Fantom Blockchain has announced a new sponsorship deal with AlphaTauri driver Pierre Gasley for the 2021 Formula One season. The deal further solidifies blockchain’s rise in the mainstream, and acts as a significant step for bringing further global exposure to the growing technology.

The announcement comes at a monumental time for both Fantom and blockchain as a whole. Fantom has been a rising star in the blockchain space, due to the company reputation for providing an affordable and efficient platform for the technology. This past February, Fantom reportedly brought investors a 1500% return on their investments. Along with the company’s success, blockchain technology has seen an enormous rise in popularity over the course pandemic, largely due to the skyrocketing value of bitcoin and other cryptocurrencies.

“In 2017, I looked at technologies that could overcome the limitations of earlier blockchain platforms, specifically scalability issues that would hinder a wider adoption. I identified in Fantom, that features a revolutionary aBFT consensus fully compatible with Ethereum, an ideal candidate for a blockchain platform that could scale and serve millions of users with almost instant and almost free transactions,” says Stelian Balta of Hyperchain Capital, another early Fantom investor.

Gasley also announced the deal on his official Twitter page,stating: “Very happy to be part of the Fantom Foundation adventure together with the Quantum FinTech Group. Fantom is the world's first smart contract platform ready for mass adoption, allowing instant transactions and nearly zero cost.”

The 2021 season marks Gasleys fourth year in Formula One, and was  previously sponsored by Red Bull. Fantom will officially begin its new deal at the Emilia Romagna Gran Prix 2021, which will be held in Italy on April 16th through April 18th.

Edited by Maurice Nagle



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