The Fedration of FIFA finally accepted crypto after implementing several bans over the years. FIFA Adds Singapore-based company Crypto.com as Qatar World Cup official Sponsor. The deals mark the first move in the Cryptocurrency space.
- The Singapore-based company named the exclusive cryptocurrency trading platform of the FIFA World Cup.
- It will cost Crypto.com around $40 million to be part of this deal.
- Crypto.com already has deals across soccer, basketball, MMA, and motorsport
- Other World Cup sponsors include Budweiser, Hisense, and Vivo
Fifa global governing body has named Crypto.com as the exclusive cryptocurrency trading platform of this year’s World Cup in Qatar.
As an official sponsor of the 32-team tournament, the Singapore-based company joins Budweiser, Hisense, McDonald’s, Mengniu Dairy, and Vivo in the tier below Fifa partners. Those top-tier sponsors include Adidas, Coca-Cola, and Visa.
Financial Terms behind Crypto.com and FIFA deal
The deal is activated Crypto.com can mention themselves as official sponsors of the World Cup. It will cost Crypto.com around $40 million to be part of this deal.
Crypto.com claims to have more than ten million customers globally. It also employs around 4,000 people across the Americas, Europe, and Asia. This partnership with FIFA will benefit the brand exposure both inside and outside tournament stadiums in Qatar.
It also plans to activate its partnership by creating opportunities for users to attend matches or win exclusive merchandise.
In agreeing on a deal to sponsor the 2022 World Cup, Crypto.com is the latest company to sign up for a tournament that has been beset with controversy related to Qatar’s treatment of migrant workers and scheduling complications caused by the country’s summer heat.
The event is scheduled to get underway on 21st November, with the final due to take place on 18th December.
The deal continues Crypto.com’s aggressive expansion into sports sponsorship. At the end of last year, it agreed to a 20-year deal worth a reported US $700 million for the naming rights to the home venue of the Los Angeles Lakers, Sparks, and Kings.
The company also has major partnerships with the likes of Formula One, the Ultimate Fighting Championship (UFC), and Paris Saint-Germain, as well as the Australian Football League (AFL), the Philadelphia 76ers, and the Fnatic esports organization.