According to a report from Forbes, Pierre Gasly was previously sponsored by Red Bull and is set to enter his fourth F1 season as AlphaTauri’s all-time top point scorer. The company’s partnership with the Formula One driver is the latest move in Fantom’s aggressive partnership campaign. In the past two months, Fantom announced partnerships with Keep3r, Cover, Cream, Frax, Sushiswap, Yearn, FTX, Solana, Serum, Curve, and Graph Protocol.
The company has offered its partners “seamless cross-chain ecosystem integration” with high throughput and increased transaction speed, Forbes reported.
Created by Andre Cronje, the founder of popular DeFi projects YFI and Keep3r, Fantom is a layer-1 blockchain platform built on an aBFT consensus protocol called Lachesis. The protocol was built to overcome the limitations of other consensus algorithms and offer high-throughput, fast finality, and security. Last month, Fantom presented its blockchain ecosystem to the U.N. Digital Currency Global Initiative’s (DCGI) CBDC Architecture Group in a bid to showcase its blockchain’s ability to operate a CBDC.
Since the beginning of the year, Fantom’s native cryptocurrency, the FTM token, saw its price increase by 4,500%, rising from $0.01 on 1 January to $0.46 on 6 April. Alameda Research, the company behind the FTX exchange, recently invested $35 million into Fantom, while Block Tower Capital invested $20 million.
Fantom is the second is the second major company from the crypto and blockchain space to become a sponsor of Formula 1. Last month, crypto trading platform Crypto.com became a supporter of Aston Martin’s return to the F1 stage, after a 61 year absence, and will have its logo appear during the new F1 season.