Turkish cryptocurrency exchange, Bitci.com has inked a sponsorship deal with McLaren Racing, becoming the official partner of the Formula One racing team of the British car manufacturer.

The official announcement made on Wednesday detailed that the two inked a long-term partnership without specifying the exact period of the deal. Under the freshly-inked partnership, the logo of the crypto exchange will feature on the racing cars as well as on the helmets of the two drivers.

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Commenting on the deal, McLaren Racing Chief Commercial Officer, Mark Waller said: “We are delighted to announce Bitci.com as an official partner of our McLaren F1 team. This long-term partnership with the brand and our introduction of a fan token will be the first of its kind in this sport.” 

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“We look forward to working with Bitci.com and seeing the brand for the first time on the MCL35M at the start of the 2021 Formula 1 season in Bahrain this weekend.”

Fan Token for Racing

Furthermore, McLaren in collaboration with its new crypto exchange partner will launch its official fan token, which will work on the Bitci Chain. Though fan tokens have become very popular in sports like Football, this is the first fan token issued by any motor racing sport.

“Formula 1 is among the most acclaimed and watched sports in the world,” said Çağdaş Çağlar, Chairman at Bitci Technology. “The fact that McLaren Racing, one of the most outstanding teams and considered as one of the legends of Formula 1 all over the world with its successes, has chosen to work with a Turkish blockchain company for this project is very significant as this is the solid proof for the global success of Turkish entrepreneurs, engineers and software developers.”

Earlier, Aston Martin’s Formula One team inked a similar sponsorship deal with Crypto.com.

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