Andretti Formula E announced that Avalanche will be partner with the team to serve as the title sponsor ahead of Andretti’s eighth season of the ABB FIA Formula E World Championship.
The multi-year agreement marks the first title sponsorship from a blockchain company with a Formula E team and features a natural alignment between organizations committed to sustainability. To further the innovative nature of the partnership, Andretti has access to the native token of Avalanche, AVAX, in addition to the traditional US Dollar payment, to finance the sponsorship.
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is blazingly fast, low cost, and eco-friendly. Since launching 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.
Source: Andretti Autosport