Crypto.com will now be the exclusive cryptocurrency trading platform sponsor for FIFA’s World Cup Tournament 2022, set in Qatar starting in November.
The cost and length of the sponsorship has not been revealed but comes after a string of high-profile advertising deals by the cryptocurrency exchange. Crypto.com recently bought the naming rights to the home of the Los Angeles Lakers and the Los Angeles Clippers, formerly known as the Staples Center, now known as the Crypto.com Arena. That deal cost an estimated $700 million, according to the Financial Times.
In a press release posted on FIFA’s website, Crypto.com says that it is the world’s fastest-growing cryptocurrency platform and boasts over 10 million 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,” Kay Madati, FIFA’s chief commercial officer said in the same press release.
As a result of the sponsorship, the Crypto.com brand will be visible inside and outside of the arena. Crypto.com will also be running contests for users to win tickets to matches during the tournament as well as selling branded merchandise.
Sports sponsorships have been a major part of crypto’s history. The first major instance was in 2014 when Dogecoin users pooled $55,000 to sponsor NASCAR driver Josh Wise for the GEICO 400 at Alabama’s Talladega Superspeedway.
Also in 2014, cryptocurrency payment processor Bitpay bought the naming rights to the St. Petersburg College Bowl, opting to call it “The Bitcoin Bowl” rather than the “Bitpay Bowl” in a purported attempt to promote the entire industry. Bitcoin was accepted as a payment method for tickets and inside the stadium.
More recently, Coinbase and FTX bought Superbowl ads in 2022. The Super Bowl was watched by over 112 million people, a significant increase over the previous year.
As popular as the Super Bowl is in the US, it doesn’t hold a candle to the World Cup, potentially making the Crypto.com World Cup deal the biggest cryptocurrency sponsorship yet. According to FIFA, the 2018 final match was its largest to date, with 1.12 billion viewers tuning in at some point during the contest.