Fantom Blockchain Announces Formula One Sponsorship

AlphaTauri driver Pierre Gasly teamed up with Fantom and Quantum Fintech Group for the 2021 Formula One season. Gasly was beforehand sponsored by Red Bull and is coming into his fourth F1 season as AlphaTauri’s all-time high level scorer after securing two podium finishes, together with a maiden win at Monza in 2020. Gasly is scheduled to race on the Emilia Romagna Grand Prix 2021 in Italy on April 16th to 18th.

On Twitter Gasly acknowledged, “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.”

Fantom blockchain is a layer-1 platform constructed on an aBFT consensus protocol, known as ‘lachesis.’ The Fantom Foundation website states that Fantom’s “speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications as well as real world uses.” In February, Fantom has yielded over 1500% returns for its buyers. Quantum Fintech is a crypto hedge fund primarily based in Abu Dhabi, led by Harry Yeh, a supporter of the Fantom Foundation, who personally led the sponsorship efforts.

“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, one other early Fantom investor.

The listing of Fantom’s buyers and supporters appears to continue to grow. Most not too long ago, Sam Bankman-Fried’s Alameda Research invested $35 million into the project, adopted by a $20 million investment by Block Tower Capital, led by Ari Paul. 

Fantom’s know-how was initially architected by Andre Cronje, the founding father of widespread DeFi tasks YFI and Keep3r. In truth, among the good contract options of Keep3r have been migrated over to Fantom, considerably chopping down transaction prices.

In what is maybe one of the fast partnership campaigns within the historical past of blockchain, within the final two months Fantom has introduced partnerships with Keep3r, Cover, Cream, Frax, Sushiswap, Yearn, FTX, Solana, Serum, Curve and Graph Protocol. Fantom claims to supply these tasks seamless cross-chain ecosystem integration with elevated through-put and transaction velocity.

The Gasly sponsorship is certainly one of a number of “crypto to celebrity” collaborations over the past 12 months. Just final week Dapper Labs, the corporate behind the favored NBA Top Shot digital collectibles platform, stated it closed a $305 million funding spherical which included from Michael Jordan and Will Smith, whereas Paris Hilton and Lindsey Lohan have develop into lively members NFT house.

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