Crypto.com cryptocurrency platform will be one of the sponsors of the Qatar-2022 World Cup, a symbol of the growing influence of virtual currencies in football, FIFA announced Tuesday in a statement.
The Singapore-based company thus joins the historical sponsors of football’s highest instance, such as the US Coca-Cola and Visa and Germany’s Adidas, although FIFA did not specify the duration of this new contract.
The company “will benefit from significant brand exposure both inside and outside the competition stadiums” and will serve to “significantly increase the visibility of its brand at the most popular sporting event on the planet” that will be held in Qatar from 21 November to 18 December, FIFA was congratulated.
Founded in 2016, Crypto.com is already present in other disciplines such as motorsports, MMA, football, ice hockey and basketball, where the legendary Los Angeles Lakers venue was renamed the company in late 2021, in a deal estimated at $700 million.
This agreement certifies the growing implantation of cryptocurrencies in football, as already demonstrated by the signing of Lionel Messi for Paris SG, which pays part of the Argentine star’s contract with virtual currency.
In autumn (boreal) last year, the study cabinet KPMG reported that since the start of the pandemic a quarantine of teams from the five major European championships have signed sponsorship agreements with cryptocurrency companies.
According to KPMG, Inter Milan, for example, doubled its revenue for its main sponsor by switching to tire manufacturer Pirelli to Socios.com.
DigitalBits, another player in blockchain technology, has been sponsoring AS Roma since July 2021 after signing a three-year contract with the Italian club for an amount of 12.4 million euros.