FIFA has announced that Crypto.com will sponsor the FIFA World Cup 2022, to be held in Qatar in November and December.
Crypto.com will gain a brand presence in and out of the stadium during the soccer tournament. The exchange will also give users the opportunity to participate in matches and win rewards.
Crypto.com will be the exclusive sponsoring crypto exchange of the event. Other sponsors include: Budweiser, McDonald’s, technology company Hisense and smartphone company Vivo.
Kay Madati, FIFA’s Commercial Director, said that FIFA is “delighted to have a global brand like Crypto.com join us as a sponsor” for this year’s professional football tournament.
Madati notes that “there is no bigger platform than… FIFA’s global football platform”. More than 3.5 billion people watched the previous FIFA World Cup in 2018, making the sponsorship deal one that will be highly visible around the world.
Crypto.com is currently the third largest exchange by trading volume, reporting $3.8 billion in volume over the past 24 hours. They claim to serve more than 10 million customers worldwide.
The amount involved in the deal has not been disclosed at this time.
Before that, Crypto.com has launched many other funding deals, they are said to have spent over $400 million on those transactions by the end of 2021.
The company has previously sponsored Aston Martin’s F1 team, the NBA’s Philadelphia 76ers, European football club Paris Saint-Germain and the Ultimate Fighting Championship (UFC). The exchange also purchased the naming rights to the Staples Center late last year.
Several other crypto companies have also formed sports partnerships. FTX is perhaps the most prominent, as they have signed contracts in the NBA and MLB, purchased the naming rights to at least two locations, and negotiated numerous other deals.
Blockchain and stablecoin company Terra also formed a sports partnership this year. In February, they funded MLB’s Washington Nationals in a $38 million deal.