Crypto.com Secures Sponsorship Role for 2022 FIFA World Cup

Crypto.com's logo and branding will be highly visible throughout the World Cup venues.

On March 22, Singapore-based cryptocurrency platform Crypto.com announced its official sponsorship of the 2022 FIFA World Cup, set to kick off in November in Qatar.

Highlights

• Crypto.com is an official sponsor of the 2022 FIFA World Cup.
• The platform's branding will be prominently displayed at event locations, offering users chances to attend matches and win exclusive merchandise.
• Recent major sponsorships include deals with the Staples Center, Australian Football League, Formula 1, and UFC.
• Crypto.com forecasts that global crypto ownership will exceed 1 billion by the end of 2022, up from approximately 300 million in 2021.

This partnership ensures Crypto.com's presence at key tournament sites and provides its over 10 million customers with unique opportunities to participate in World Cup events and promotions.

"Football unites the world unlike any other sport, and the FIFA World Cup is the pinnacle of this unity," said Steven Kalifowitz, Crypto.com's Chief Marketing Officer, in an interview with CoinDesk. "We are honored to be the first crypto brand to join this historic month-long event as an official sponsor." The financial details and contract duration between Crypto.com and FIFA remain undisclosed.

Expanding Sponsorship Portfolio

Over the past year, Crypto.com has significantly increased its investment in high-profile sports sponsorships. In November, it secured naming rights for the Staples Center in Los Angeles, rebranding it as Crypto.com Arena under a deal valued at approximately $700 million over 20 years.

The company also maintains a $25 million partnership with the Australian Football League (AFL) and lucrative sponsorship agreements with Formula 1 and the Ultimate Fighting Championship (UFC). Additionally, Crypto.com joined major crypto competitors Coinbase and FTX by purchasing premium advertising slots during the recent Super Bowl, which attracted an audience of 167 million viewers.

Industry Insight

NBC reports that some advertisers paid as much as $7 million for a 30-second commercial during this year's Super Bowl.

Driving Global Cryptocurrency Adoption

In January, Crypto.com published its "Crypto Market Sizing" report, highlighting the rapid growth of cryptocurrency ownership worldwide. The number of crypto holders rose to nearly 300 million in 2021, with projections exceeding 1 billion by the end of 2022. Moreover, Crypto.com's blockchain network, Cronos, has experienced remarkable expansion. Data from Defi Lama shows that total value locked (TVL) in decentralized finance (DeFi) protocols on Cronos surged from $5 million in early November to over $330 billion by late March.

Understanding DeFi

Decentralized finance (DeFi) leverages secure distributed ledger technology, similar to cryptocurrencies, to eliminate intermediaries like banks, offering financial products and services directly to users.

By sponsoring the World Cup, Crypto.com leverages soccer's global popularity to broaden its international reach. FIFA's audit revealed that the 2018 World Cup in Russia attracted over 3.5 billion viewers worldwide, with 1.2 billion watching the final match between France and Croatia.

Have a news tip for Investopedia? Email us at tips@investopedia.com.

Discover engaging topics and analytical content in Company News as of 28-03-2022. The article titled " Crypto.com Secures Sponsorship Role for 2022 FIFA World Cup " provides new insights and practical guidance in the Company News field. Each topic is meticulously analyzed to deliver actionable information to readers.

The topic " Crypto.com Secures Sponsorship Role for 2022 FIFA World Cup " helps you make smarter decisions within the Company News category. All topics on our website are unique and offer valuable content for our audience.