Crypto.com $700 million sponsorship deal with Lakers is a ‘coming of age’ for the sector, says GlobalData

Following today’s news (Wednesday, November 17) that Crypto.com has taken on the title sponsorship of the iconic Staples Center in Los Angeles;

Conrad Wiacek, Head of Sport Analysis at GloblaData, a leading data and analytics company, offers his view:

“The rate and size of cryptocurrency partnerships in the sport sector is simply impressive. Crypto firms are taking on significant partnerships with iconic properties for vast fees, and Crypto.com’s $700 million deal to become title sponsor for one of the most iconic arenas in US sports, as well as partnerships with the LA Lakers and LA Kings, just reinforces that crypto and blockchain companies will be the most significant growth area for sports sponsorships over the next decade.

“Crypto.com now joins FTX as a title sponsor in the NBA – to add to its sponsorship of Formula One and UFC – while the NFL’s New England Patriots has just announced a partnership with fan token site Socios, a first for the NFL.

“With the legalization of sports betting across much of the US adding another sector to the sponsorship landscape, Cryptocurrency firms such as Crypto.com have moved quickly to secure iconic properties on long-term deals.”

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