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Crypto.com Becomes First Cryptocurrency Company to Sponsor Football World Cup

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Exchange Crypto.com has been confirmed as an official sponsor of the 2022 Football World Cup. The announcement was made on Tuesday (22) according to the FIFA official website the entity that organizes the tournament.

Crypto.com, sponsor of football World Cup

The deal grants the exchange exclusivity as the cryptocurrency company that will sponsor the tournament, as well as great brand exposure. According to FIFA, the Crypto.com logo will be prominently displayed inside and outside the eight stadiums that will host the games.

“Crypto.com has already demonstrated a commitment to supporting top teams and leagues, major events and iconic venues around the world. In that sense, there is no platform larger, or with a greater reach and cultural impact, than FIFA’s global football platform,” said Kay Madati, FIFA Commercial Director.

The exchange’s entry into the World Cup comes as a culmination for the exchange’s recent strategy. Created in 2016, Crypto.com has seen its repercussions increase after its entry into several global sports leagues.

For example, the exchange was already an official sponsor of Formula 1 and several teams in the United States Basketball League (NBA). One of the largest sports gyms in the country, the former Staples Center, had its naming rights acquired by the exchange and is now called Crypto.com Arena.

In the case of the World Cup, the exchange will not name any of the eight stadiums in the tournament. On the other hand, it will promote a series of engagement actions, especially for new users.

According to the contract, at least two actions can be performed in the tournament. The first includes the possibility of drawing tickets for the games. Neither the exchange nor FIFA have revealed details, but the action should benefit anyone who registers for the first time on the exchange.

Another action is the raffle of exclusive Cup products created by Crypto.com. Kris Marszalek, co-founder of the exchange, said the focus will be on user experiences during the tournament.

“We couldn’t be more excited to sponsor the FIFA World Cup, one of the most prestigious tournaments in the world. Through our partnership with FIFA, we will continue to use our platform in innovative ways so that Crypto.com can power the future of sports experiences.”

Qatar paradox

The FIFA World Cup will be held between the 21st of November and the 18th of December. The short duration and the change of term are the big news. Traditionally held in June, the tournament will go to the end of the year to alleviate the strong temperatures in Qatar, the host country of this edition.

It should be noted that despite Crypto.com’s sponsorship, cryptocurrency operations are prohibited in Qatar. In 2018, the country’s central bank made it illegal to buy and sell cryptocurrencies on its territory.

That is, it is likely that Qatari fans will not be able to access the benefits of Crypto.com. Even so, the exchange hopes to succeed in exposing its brand globally, given the tournament’s large audience. The 2018 World Cup final, for example, was watched by more than 1.1 billion people.

Founded in 2016, Crypto.com today serves over 10 million customers and has over 4,000 employees.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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