Crypto.com, a leading cryptocurrency exchange, has entered into a sponsorship partnership with the Fédération Internationale de Football Association (FIFA). The non-profit organisation is in charge of the world’s largest athletic event, the World Cup.
According to the Financial Times, Crypto.com and FIFA have agreed to sponsor the future World Cup football competition, which will begin in November 2022 in Qatar. On Wednesday, the news broke (March 22, 2022).
According to the terms of the deal, Crypto.com will display on advertising boards both inside and outside the tournament stadiums. Due to the fact that the FIFA World Cup contains national teams from every continent, the event provides Crypto.com with an unprecedented chance to reach billions of consumers in a variety of worldwide marketplaces.
The transaction also demonstrates the increasing relationship between cryptocurrency startups and the multibillion-dollar sports sector. Numerous digital asset businesses, including Singapore’s Crypto.com and the Bahamas’ FTX, have negotiated a slew of partnerships with stakeholders in a variety of sports, including football, mixed martial arts, racing, and basketball.
Kris Marszalek, Chief Executive Officer (CEO) and co-founder of Crypto.com, commented on the development, stating that sponsorship would assist in extending the firm’s reach and consumer base. Marszalek also stated:
“Through our relationship with FIFA, we will continue to innovate with our platform, enabling Crypto.com to power the future of world-class sports and fan experiences globally.”
FIFA’s Chief Commercial Officer (CCO), Kay Madati, noted that the football governing body views the cryptocurrency exchange as a critical partner in advancing sports innovation through digital solutions. Madati stressed the following:
“Crypto.com has already proved its commitment to top-tier teams and leagues, important events, and famous locations worldwide. And there is no platform larger or more influential in terms of reach and culture than FIFA’s worldwide football platform.”
Cryptocurrency Companies Expand Their Sports-Related Deals
This is not the first time Crypto.com has spent a significant amount of money to gain a seat on a major athletic platform. In February 2022, the exchange is said to have spent millions of dollars on a Super Bowl advertisement spot.
The business saw a tremendous increase in traffic and user sign-ups after the American football match. Additionally, the corporation has a licencing agreement with the famous mixed martial arts brand, Ultimate Fighting Championship (UFC)
Indeed, the agreement with FIFA is yet another significant sports-related contract for a cryptocurrency startup. Manchester City, the reigning English Premier League (EPL) champions, announced a multi-year worldwide deal with digital asset exchange OKX.
As previously reported by San Francisco Tribe, the agreement aimed to enhance the fan experience by supplying collectibles driven by non-fungible token (NFT) technology, digital tokens, and exposure to cryptocurrencies. Neighboring cities Additionally, Manchester United announced a kit deal with blockchain start-up Tezos.
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