On Wednesday, March 23, Crypto exchange Crypto.com announced that it will officially sponsor the 2022 FIFA World Cup.
The tournaments to be held in Qatar from November 21 to December 18 are expected to bring in a significant number of potential customers for the exchange as the world’s attention focuses on watching the revered sport.
According to the official blog also featured on the FIFA website, the “sponsorship will boost significant awareness around the cryptocurrency trading platform through brand awareness at the world’s most popular sporting event.”
In addition, the exchange, which will be “the exclusive sponsor of the cryptocurrency trading platform for QATAR2022,” will also greatly benefit from inside and outside the tournament’s stadiums “by providing opportunities for new and existing users to attend matches during the tournament.” or to 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, which will ultimately help grow our beautiful game on a global scale,” said Kay Madati, Chief Commercial Officer from FIFA.
Crypto.com is the third largest cryptocurrency exchange in the world by trading volume after Binance and OKX according to CoinGecko and boasts a user base of more than 10 million customers and more than 4,000 employees worldwide. The exchange has spent hundreds of millions of dollars in advertising with a special focus on sporting events, as the exchanges see that they have the largest number of “high-risk” customers.
“Crypto.com has already demonstrated a commitment to supporting top teams and leagues, major events and iconic locations around the world, and there is no platform greater, or with greater reach and cultural impact, than FIFA’s global football platform,” added Madati.
In addition to enjoying a wide network of high-profile sponsorships in top 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 Kong-based stock exchange also invested globally in strategic properties intended to enhance its public image.
Most recently, the exchange bought the naming rights to the now Crypto.com Arena in Los Angeles for 20 years, bringing in a cool $700 million. The arena that has been the scene of big shots like the Lakers and high-level celebrations is not only one of the exchange’s biggest investments, but one that promises high returns.
That said, it will be interesting to see if other crypto companies, including Binance, which sponsored AFCON, will get on board. Most FIFA sponsors currently fall into the traditional institution category.