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<ul class="wp-block-list news-points">
 <li>Crypto sports sponsorships dipped 38% since 2021 but show signs of recovery in 2024.</li>
 <li>FTX’s collapse in 2022 triggered a major pullback in crypto sports sponsorship deals.</li>
 <li>2024’s uptick of 26 crypto sponsorships hints at a cautious market rebound.</li>
</ul>
Crypto companies have a history of turning to sports sponsorships to grab the public’s attention. But the game has changed a lot since the peak in 2021. A Coingecko <a href="https://www.coingecko.com/research/publications/crypto-sports-sponsorships" target="_blank" rel="noopener noreferrer nofollow">report</a> shows that the downfall of big players like FTX and the sharp market downturn in 2022 caused a major decrease in new deals. In 2024, with 26 new sponsorships signed, is the relationship between cryptocurrency and sports on the rebound?
<h2 class="wp-block-heading" id="h-the-rise-and-fall-of-crypto-sponsorships">The Rise and Fall of Crypto Sponsorships</h2>
In 2021, the crypto bull market fueled a boom in sponsorship deals. Crypto companies secured 33 new partnerships, making up 35.9% of all deals between 2021 and 2024. Some notable deals included Crypto.com’s $700 million naming rights agreement for the Staples Center and FTX’s $210 million sponsorship with Team SoloMid in esports. These sponsorships aimed to make crypto a credible mover in mainstream sports.
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The post <a href="https://coinedition.com/are-crypto-sports-investments-still-a-good-bet-insights/" rel="noopener noreferrer nofollow">Are Crypto Sports Investments Still a Good Bet? Insights</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Are Crypto Sports Investments Still a Good Bet? Insights

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