FIFA Crypto Sponsorship Agreement with Crypto.com for World Cup 2022

fifa crypto

Welcome back to the Tribe! In this post we dive into the FIFA Crypto sponsorship from Crypto.com!

Nothing should be considered investment or financial advice. Enjoy the ride!

FIFA Crypto

Major cryptocurrency company Crypto.com has reached a sponsorship agreement with the Fédération Internationale de Football Association (FIFA). The non-profit organization is responsible for overseeing the world’s biggest sporting event – the World Cup tournament.

Another Exchange Splurges Cash on Sports Partnership

Financial Times reported that Crypto.com and FIFA have signed a sponsorship deal for the upcoming World Cup football tournament scheduled to start in Qatar, in November 2022. The news broke on Wednesday (March 22, 2022).

According to details from the agreement, Crypto.com will appear on advertising boards inside the tournaments stadiums as well outside the football grounds. As the FIFA World Cup features national teams from all corners of the world, the tournament offers Crypto.com a rare opportunity to reach billions of people in a plethora of international markets.

The deal also highlights the growing link between firms in the cryptocurrency space and the multi-billion dollar sporting industry. Several digital assets startups like the Singapore-based Crypto.com and Bahamian-based FTX have inked a multitude of deals with stakeholders across many categories like football, mixed martial arts, racing, and basketball.

Commenting on the announcement, Chief Executive Officer (CEO) and co-founder of Crypto.com, Kris Marszalek said that sponsorship will aid in expanding the firm’s reach and customer base. Marszalek also added that:

“Through our partnership with FIFA, we will continue to use our platform in innovative ways so that Crypto.com can power the future of world-class sports and fan experiences around the world.”

FIFA’s Chief Commerical Officer (CCO), Kay Madati, added that the football governing body regards the crypto exchange as a key partner for backing sports innovation through digital solutions. Madati emphasized that:

“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.”

Crypto Companies Amp Up Sports-related Deals

This is not the first time Crypto.com has splashed the big bucks to secure a spot on a large sporting stage. Earlier in February 2022, the exchange purportedly spend millions of dollars on a Super Bowl Ad placement.

Following the American football event, the startup experience a massive surge in traffic and user sign-ups. The company also has a deal with the popular martial arts franchise, Ultimate Fighting Championship (UFC)

Indeed, the deal with FIFA marks yet another major sports-related deal for a crypto company. English Premier League (EPL) defending champions Manchester City announced a multi-year global agreement with digital asset exchange OKX.

As previously reported by San Fransisco Tribe, the deal was geared towards bolstering fan experience by offering collectibles powered by non fungible token (NFT) technology, digital tokens, and providing exposure to cryptocurrencies as well.

City neighbors Manchester United also signed a kit agreement with blockchain start-up Tezos.

Other News – Legal Actions Against Binance

Following an account blockade five months ago over suspected money laundering, some Colombian users have taken legal actions against Binance. In other news, the success of Bitcoin in El Salvador is focusing the attention of another South American country on cryptocurrencies, which the government believes will ignite tech investments in the country.