Cryptocurrency sport sponsorships saw a whopping total deals value of $605 million in 2021, compared to just $16.86 million in 2020, according to GlobalData, a leading data and analytics company, with leading properties in world sport securing partnerships from brands in this sector.

Patrick Kinch, Sport Analyst at GlobalData, comments: “Cryptocurrency has enjoyed a breakout year in 2021, with crypto firms such as Socios and Crypto.com putting their name to some of the biggest properties in sport worldwide. While the start of the year saw crypto brands secure partnership roles among well-known properties in European soccer, more high-profile inventory has been secured by this sector in recent months.”

Crypto.com has expanded its branding deal with the UFC until 2030, which is estimated to be worth $50 million annually. Crypto.com has also secured title sponsorship of one of the US’s most well-known venues, taking over title sponsorship of the LA Laker’s Staples Centre in a $700 million deal, running until 2040.

Kinch adds: “The NBA itself has also partnered with Coinbase in a federation deal worth $25 million a year, showing that the biggest properties in world sport are now embracing a growing, yet largely unregulated, sector that is becoming increasingly mainstream.”