Formula 1's relationship with Crypto

Are there any other F1 fans in this sub?

I'm quite fascinated by how almost every team has or had some marketing deal with a crypto affiliated company that inevitably went south. I guess every team needs to secure additional funding through sponsorship deals, but most of these deals just don't make any business sense. F1 is a pretty niche sport, and I hardly think the fanbase is the ideal target market, so what is the real value proposition of these deals?

Perhaps I'm overthinking it and I have very little knowledge of how marketing deals are structured, but it just seems like the F1 team has more to lose in these types of deals, unless of course funding is secured upfront and in full. However if funding is released in tranches, the risk is that the crypto company goes belly up due to market volatility and the F1 team is left without much needed funding for a portion of the season.

What are your thoughts on this?