AlphaTauri is not able to advertise Fantom, one of their prime sponsors due to the ban on advertising cryptocurrency in France.
AlphaTauri will not be able to showcase one of its sponsors ahead of the French Grand Prix. This is mainly due to the French market regulators banning the industry from advertising.
The Italian team partnered up with Fantom for the 2022 season. Fantom is a smart contract platform based on blockchain technology. It is an alternative to Ethereum.
Fantom contains cryptocurrencies, and NFTs in its arsenal and is the world’s fastest-growing platform out there. It proudly sponsors AlphaTauri.
The Fantom logo is present on their AT03 car’s nose and halo. Moreover, both Yuki Tsunoda and Pierre Gasly’s helmets and uniforms contain the Fantom logo.
However, the team is actually covering up the logo at the French Grand Prix. Thus, the Fantom logo is nowhere to be visible during the race weekend.
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France’s ban on cryptocurrency advertisements
As per the L’Autorite Des Marches Financier (AMF), cryptocurrency-tied derivatives are speculative and risky in nature. Thus a ban on their advertising. The trading platforms have to abide by this rule and not promote themselves in France due to this particular reason.
Both the AlphaTauri drivers are supportive of the future of money. Pierre Gasly stated: “I have been an ardent supporter of crypto for some time now. The possibilities offered by the Fantom technology are incredibly exciting to me.”
Alpha Tauri team principal Franz Tost added: “We live in a world where cryptocurrencies cannot be ignored. The impact of blockchain technology is everywhere, from finance to supply chain applications, as well as contract management.”
