Cronos

<p>Crypto.com, the Singapore-headquartered cryptocurrency exchange platform, has outlined that it has seen significant growth thanks to high-profile sports sponsorship and advertising.</p><h2 id="header-0">Reaping the rewards</h2><p>The company has established advertising partnerships with Formula 1 (F1) motor racing and the Ultimate Fighting Championship (UFC). These lucrative sponsorship deals have propelled the exchange into the spotlight of two massive fan bases, contributing to its expansion.</p><p>In an <a href="https://cointelegraph.com/news/crypto-com-f1-ufc-partnerships-drive-user-growth" rel="noopener noreferrer nofollow">interview</a> with Cointelegraph last week, Eric Anziani, president and chief operating officer of Crypto.com, discussed the company’s successful advertising campaigns with F1 and the UFC, as well as its naming rights deal for the Crypto.com Arena in downtown Los Angeles.</p><p>In 2021, what was then the Staples Center was <a href="https://www.espn.com/nba/story?_slug_&#61;staples-center-become-cryptocom-arena-rich-naming-rights-deal&amp;id&#61;32650662" rel="noopener noreferrer nofollow">renamed</a> to the Crypto.com Arena in a $700 million naming rights deal. Anziani expressed gratitude for these partnerships, emphasizing the importance of staying top of mind for users in the competitive cryptocurrency market.</p><p>That same year, the company <a href="https://en.psg.fr/teams/club/content/cryptocom-becomes-psg-official-cryptocurrency-platform" rel="noopener noreferrer nofollow">signed</a> a multi-year partnership deal with leading French football club Paris Saint-Germain (PSG), rolling out various PSG-related <a href="https://coinnesslive.page.link/GnM1LCumo7tmNDQE7" rel="noopener noreferrer nofollow">marketing activities</a> since then.</p><h2 id="header-1">Brand recognition benefits</h2><p>Market surveys conducted by Crypto.com indicate a high level of global awareness and brand recognition among retail cryptocurrency users. The exchange’s logo prominently displayed during F1 races and UFC events has helped it reach millions of fans worldwide.</p><p>ESPN reports an average of 1.11 million viewers per race for the 2023 F1 season in the United States alone, with global viewership exceeding one billion over the entire race calendar. Similarly, the UFC boasts a global audience, with some of its biggest fights attracting millions of pay-per-view viewers.</p><p>Anziani highlighted the effectiveness of these partnerships in bringing people into the cryptocurrency space.</p><h2 id="header-2">User base approaching 100 million</h2><p>These partnerships have significantly contributed to Crypto.com’s growing user base, which is approaching 100 million users in 2024, up from an estimated 80 million in the previous year.</p><p>Anziani discussed the factors that drive users’ choice of exchange platforms, emphasizing the importance of compliance, security, convenient access to cryptocurrency and competitive fees. He noted that different users prioritize different aspects based on their trading preferences and requirements.</p><p>The firm is not alone in pursuing high-profile sports sponsorship deals. Rival platform OKX has an ongoing <a href="https://coinnesslive.page.link/Dre3vHcXGGa9rQ828" rel="noopener noreferrer nofollow">sponsorship deal</a> in place with Manchester City Football Club in the English Premier League (EPL). It also has <a href="https://coinnesslive.page.link/PhaV5jqPiyvwtuZVA" rel="noopener noreferrer nofollow">doubled down</a> recently on the sponsorship of F1 racing team McLaren. Other notable partnerships include crypto gambling platform Stake.com’s sponsorship of Sauber F1, crypto exchange platform Kraken’s deal with Williams F1 and BingX’s sleeve sponsorship <a href="https://coinnesslive.page.link/5Ccqfm8zYVPrdT6s9" rel="noopener noreferrer nofollow">agreement</a> with Chelsea football club in the EPL.</p><p>High-profile marketing initiatives are alive and well, although in a much more sober way than in 2022 when six crypto companies featured in Super Bowl advertising in the United States. Kraken’s chief marketing officer, Mayur Gupta, recently <a href="https://cryptonews.com/news/kraken-exec-questions-efficacy-of-crypto-ads-at-super-bowl-despite-global-reach.htm" rel="noopener noreferrer nofollow">stated</a> that the Super Bowl is no longer an effective means of promotion for crypto companies.</p>

High-profile sports sponsorships driving Crypto.com user base expansion

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