Virtual and Augmented Reality Gamification Technology on Reinventing the F1 Sponsorship Model not Purely Focused on the Team’s and Car’s Performance

Abstract

Formula 1 economics is highly related with the investments on the F1 cars and their performance. Winning teams have multidimensional benefits that can assure sustainability, development, reputation and profitability. On the other hand, not everyone can be a winner and this reality generates high risk for F1 the F1 investors, the teams, and the F1 itself. This research work aims to identify new sponsorship methods for F1 which are not purely focused solely on the car’s and team’s performance. The paper presents a gamification approach on which an innovative and disruptive Virtual Reality game can be developed to contribute on gaining new fans from all financial and social levels globally. This new fan base can be transformed into the new target group for sponsorships not only on the physical F1ccars but also on the digital ones that can be owned and driven by anyone, anywhere at any time.