Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
A good example of a cryptocurrency company attempting to increase its profile through professional athletics is Crypto.com’s sponsorship of the 2022 FIFA World Cup in Qatar.
FIFA and Crypto.com have struck a new deal to promote the exchange inside and outside the World Cup stadiums. As a reminder, the competition will occur in Qatar from November through December.
A Few Words about Crypto.com
Presently, Crypto.com includes over 10 million users, and more than 4,000 staff spread throughout the Americas, Europe, and Asia. The company’s service solutions aim to expedite the worldwide implementation of cryptocurrencies and put security, safety, and accountability at its core.
Crypto.com signed a historic naming rights deal for the Los Angeles arena. You will probably have heard that the stadium’s name is now “Crypto.com Arena.” The company also became Australia’s official crypto portal and trading system for both the country’s national and state-level professional football leagues.
Many tactics will see Crypto.com promote its FIFA World Cup Qatar 2022 official sponsor status. Among these, new and existing customers may have a chance to win products or attend matches.
An Interesting Market for the Crypto Industry
Over half of the world’s population (3.6 billion people) tuned in to watch at least some of the 2018 World Cup. The tournament’s final match broadcast gathered together over 1 billion people.
For crypto enterprises, the goal is to get their brands in front of as many people as possible. In this year’s Super Bowl, five cryptocurrency exchanges ran ads that drew in 101.1 million viewers in the United States.
Crypto.com was already a prominent sports sponsor before signing a World Cup agreement. For example, the NBA’s Philadelphia 76ers, the Paris Saint-Germain soccer team, and Formula 1 racing worked with Crypto.com in 2021.
LeBron James appeared in a Super Bowl ad to cap off the company’s marketing efforts.
Currently, other crypto firms are also investing in sports. For example, FTX signed multi-million dollar arrangements with sports entities in 2017. Notably, the company placed its mark on both the Miami Heat and Berkeley’s Football teams. Lastly, major League Baseball has agreed to put FTX patches on their uniforms for five years.
Crypto.com, through its CEO, released a few comments on this new deal. For instance, the company’s management is more than happy to sponsor one of the most prominent competitions globally. Crypto.com is aware that these events can help anyone raise additional exposure for a business on a global scale.
Additionally, the exchange claimed that the FIFA collaboration would allow it to leverage its network in new ways. The management firmly believes that, through these operations, the experience for sports fans can improve.
Crypto.com Sponsor – Bottom Line
Crypto.com became one of the FIFA World Cup sponsors for the next global competition. The public events where sports fans see the “Crypto.com” logo pop up are increasing.
We will see the new F1 Grand Prix in Miami with a unique Crypto.com sponsorship in a few days. Crypto mass adoption is discovering the power of the sports industry, a marketing channel we cannot ignore.