Cryptocurrency stock market Crypto.com, added a new one to its global sports partnerships. Borsa İstanbul announced that it will be the official sponsor of the 2022 FIFA World Cup.
Crypto.com Name to Be Displayed in Qatar During World Cup
As part of the sponsorship agreement, the company’s brand will be displayed throughout the tournament in Qatar. Among the areas where the brand’s logo will be located, there will be the broadcast area of the stadium where the cameras will shoot. However, the total value of the sponsorship deal was not disclosed.
Steven Kalifowitz, CMO of Crypto.com, said in a statement about the new deal:
“No sport brings the world together like football, and no sporting event brings the world together like the FIFA World Cup. Only a few brands have the opportunity to attend this event as official sponsors. That’s why we didn’t want to miss the opportunity to be the first brand to represent the cryptocurrency industry at this historic month-long event.”
Crypto.com also came to the fore in November when it bought the naming rights to the iconic Staples Center in Los Angeles and changed its name to Crypto.com Arena. The deal at that time was worth $700 million, making it the largest naming rights sponsorship deal in sports history.
Crypto.com was founded in 2016 under the name “Monaco”. In 2018, the company bought its Crypto.com domain name from Matt Blaze, a cryptography researcher and professor. The acquisition is thought to cost between $5 and $10 million. The company has been making a name for itself with high-cost sponsorship deals lately.
The sponsorship of such large organizations by cryptocurrency exchanges is considered very beneficial for industry awareness.
*Not investment advice.