Crypto.com has been a leading name in the cryptocurrency market and already boasts an active sports sponsorship portfolio of 17 partnerships, which GlobalData estimates has an annual value of $220.25 million.

The leading data and analytics company found that over the past 15 months Cryptocurrency brands have been heavily investing in sport as a means of building consumer awareness and establishing their names as industry leaders. GlobalData notes that since the start of January 2021, Cryptocurrency brands have been involved in 324 unique sports sponsorship deals.

Jake Kemp, Sports Analyst at GlobalData, comments: “Crypto.com have made another huge statement in its latest partnership, as it guarantees a substantially large global audience with the FIFA World Cup becoming its sixth announced deal in 2022. The previous FIFA World Cup in Russia was watched by 3.572 billion people in 2018, with its Final alone watched by a combined 1.12 billion fans.

“The brand’s rate of investment in the market shows no signs of slowing down upon news of this latest addition. Other deals signed this year includes partnerships with the new Miami Grand Prix and basketball superstar LeBron James.”

Given the rate of crypto investment in sport in recent times, a partnership with the biggest sporting event of 2022 was always on the cards for a competitive industry such as cryptocurrency.

Kemp adds: “For these brands, it is all about a race to the top, establishing a solid foundation in the market before many struggle to stay active and compete in what is an over-populated market at present. Crypto’s approach to sponsorship has been to target the biggest properties which can offer it the greatest exposure, whilst its diverse collection of partnerships ensures an even wider audience.”

The long-term sustainability of brands in the crypto space remains a question mark for the market as a whole, but as these multi-million-dollar deals continue to be agreed, its immediate future appears somewhat stable and settled. Crypto.com has invested heavily on marketing and partnerships and in doing so has already established itself as one of leading brands in the space, if not the most well-known.