Exchange’s user base allegedly increased from 80M to 100M in a matter of months.
With a projected duration of ten years, this sponsorship is valued at ten million dollars.
Sports advertising on crypto.com, a leading exchange in the cryptocurrency ecosystem, is about to increase. Among the exchange’s goals in its quest for international prominence is the expansion of its dominance.
Bloomberg states that Steven Kalifowitz, chief marketing officer of Crypto.com, has acknowledged the company’s intentions to ramp up its approach. The success of this plan depends on attracting new customers from outside the crypto business via sporting events.
Strategic Approach
So far, Crypto.com’s bets have paid off, as the company’s user base allegedly increased from 80 million to 100 million in a matter of months. With the signing of a multi-year contract to rebrand the Staples Center Crypto.com Arena in 2021, the firm first made its mark on the digital advertising market.
The Crypto.com Miami Grand Prix, which takes place in Florida, is mostly sponsored by the firm. With a projected duration of ten years, this sponsorship is valued at ten million dollars. This is in addition to the $100 million, 5-year sponsorship license that Crypto.com has for the Grand Prix on a worldwide scale.
The trading platform is eager to grow this ad license, even if many may think this expenditure is huge. Eminem, a famous American musician, was recently featured in a widely renowned advertisement at the Crypto.com Arena. The Fortune Favors the Bold ads starring Matt Damon, which first appeared in 2021, were revived in Eminem’s advertisement.
There was a period when cryptocurrency competitors saw advertisements during the Super Bowl as a huge competitive advantage. Despite many people’s big marketing spends, the crypto winter quickly followed, drawing widespread criticism.
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