Blockchain leader Avalanche is partnering with Andretti Formula E in a multi-year deal and will serve as the team’s title sponsor from the upcoming ABB FIA Formula E World Championship Season 8.
The deal marks the first time a Formula E team will have a blockchain company as its title sponsor. The partnership is funded by a combination of US dollars and access to Avalanche’s native AVAX token.
“As the founding team of Formula E, we believe in the mission and the future of the series and are delighted to welcome an innovative partner like Avalanche,” said Formula E Director Michael Andretti. ‘Avalanche Andretti. “Not only do we share the goal of winning on the track, but we also share the belief that blockchain technology can have a positive impact on the world of motorsport. This opens up opportunities for new ways to engage with people. fans and a chance to introduce cutting-edge technology to various areas of the team.We’re excited to see where this partnership will go.
Launched in September 2020, Avalanche has become a leader in decentralized finance and non-fungible tokens, with leaders like Topps migrating their digital collectibles efforts to the platform.
“Andretti and Avalanche all prove that high performance doesn’t have to be sacrificed when you choose to be eco-friendly,” says John Wu, president of Ava Labs, Avalanche’s parent company. “We all have a responsibility to tackle the climate crisis, and this partnership aligns pioneers who are leading the charge in their respective industries.”
Andretti has spent seven seasons in Formula E and the last four as a BMW works team, collecting seven wins, 17 podiums and eight poles. Although BMW withdrew from the series at the end of the 2020/2021 season, the team will still wear the BMW Racing eDrive03 transmission next year as an independent entrant, with two-time race winner Jake Dennis returning for pilot entry #27 alongside a second pilot to be named later.
“I am very pleased to welcome Avalanche to the Andretti Formula E family as the team’s new title partner,” said team principal Roger Griffiths. “Right from the start, the energy and enthusiasm shown by the Ava Labs team matched ours. Their ideas and creativity around the partnership demonstrate the kind of thought they put into developing their blockchain technology that sees them as leaders in this field. We hope to match this with our own success by being leaders on the circuit as well! We are all very excited for the first race of the Formula E Avalanche Andretti cars at pre-season testing in Valencia in just a few weeks. »
Season 8 kicks off on January 28 with the Diriyah E-Prix in Saudi Arabia.
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