In one of the most high-profile sponsorship deals to date, Crypto.com has been announced as a sponsor for this year’s FIFA World Cup in Qatar.
According to the athletic authority, the exchange “will benefit from enormous branding exposure both within and outside the tournament’s stadiums.”
It’s the trading platform’s latest big-money sponsorship effort, coming months after the legendary Staples Center in Los Angeles was renamed as the Crypto.com Arena in a multi-year contract.
When the World Cup kicks off in November, Crypto.com will provide its customers the chance to attend matches and win “unique items,” implying that non-fungible tokens will be used.
The agreement, according to FIFA’s chief commercial officer Kay Madati, would “help expand our beautiful game on a worldwide scale,” adding:
“Crypto.com has previously proved its dedication to sponsoring top-tier clubs and leagues throughout the world, as well as important events and historic locations, and there is no platform bigger, or with a broader reach and cultural influence, than FIFA’s worldwide platform of football.”
Crypto firms and sports organizations are forming stronger relationships, and it’s increasingly usual to see the logos of prominent exchanges on the uniforms of top-tier soccer and rugby teams.
This week, tennis sensation Naomi Osaka announced that she is investing in FTX and would be compensated in cryptocurrency in her new role as a worldwide ambassador. Meanwhile, in an effort to combat inflation, UFC flyweight competitor Matheus Nicolau is receiving his compensation in Bitcoin.
NFL Relaxes Sponsorship Rules
In other news, the National Football League has announced that it will relax its rules for teams seeking sponsorship from digital asset companies… in a way
While clubs would be barred from “directly promoting cryptocurrencies,” they will be permitted to work with select blockchain technologies.
It might be claimed that the NFL is losing money as a result of this attitude, especially when the NBA recently secured a four-year contract with Coinbase worth $192 million. Joe Ruggiero, the NFL’s chief of consumer products, told CNBC:
“We have a lot of faith in blockchain technology. We believe it has a lot of potential to drive innovation and audience engagement in the following decade.”
Because of the extreme heat in Qatar throughout the summer months, the FIFA World Cup is being hosted later than normal this year.