Wednesday, March 23, Crypto exchange Crypto.com announced that it will officially sponsor the 2022 FIFA World Cup.
The tournaments which will be held in Qatar from 21st November to 18th December are expected to bring a significant number of potential clients for the exchange as the world’s attention turns to watch the revered sport.
According to the official blog which also reflects on the FIFA website, the “sponsorship will drive significant awareness around the cryptocurrency trading platform through brand exposure at the world’s most popular sporting event’.
Furthermore, the exchange which will be ‘the exclusive cryptocurrency trading platform sponsor for QATAR2022’ will also benefit immensely from within and without the tournament’s stadiums ‘by providing opportunities for new and existing users to attend matches during the tournament or win exclusive merchandise.’
“We are delighted to have a global brand like Crypto.com join us as a sponsor of the exciting and groundbreaking FIFA World Cup in Qatar ultimately helping to grow our beautiful game on a global scale,” said Kay Madati, FIFA’s Chief Commercial Officer.
Crypto.com is the third-largest cryptocurrency exchange in the world by trading volume after Binance and OKX according to CoinGecko and boasting a user base of more than 10 million customers and over 4,000 employees globally. The exchange has been pouring hundreds of millions of dollars into advertisements with a special focus on sporting events as exchanges see them as having the biggest number of “high-risk appetite” customers.
“Crypto.com has already demonstrated a commitment to supporting top-tier teams and leagues, major events, and iconic venues across the world, and there is no platform bigger, or with a greater reach and cultural impact, than FIFA’s global platform of football,” Madati added.
Apart from enjoying a wide net of high profile sponsorships in top tier sports teams such as the Philadelphia 76ers, Formula 1, Ultimate Fighting Championship (UFC), the Canadiens, National Hockey League (NHL) team, and the Aston Martin Racing Formula One team, the Hong Kong-based exchange has also invested in strategic properties worldwide meant to boost its public image.
Most recently, the exchange purchased the naming rights of the now Crypto.com Arena in Los Angeles for 20 years splashing a cool $700 million. The arena which has played host to big shots such as the Lakers and high-level celebrations is not only one of the exchange’s largest investments but one that promises high returns.
That said, it will be interesting to see if other crypto firms including Binance which sponsored AFCON will come on board. As of now most sponsors of FIFA are still in the traditional institutions’ category.
