Analysts have recently conducted a study to find out in which industries crypto companies invest the most. As it turns out, large crypto firms, eager to reach new audiences, allocate their own funds in some sectors. Trying to push further into the mainstream, they quickly became the biggest advertisers of sports.
For example, Crypto.com signed a record 20-year, $700 million deal for the naming rights to the Los Angeles arena home to the Lakers, Kings and Sparks, aka the Staples Center. In addition, Crypto.com concluded a contract worth $175 million with the organizer of the Ultimate Fighter Championship (UFC) mixed martial arts tournaments. Its logo will be placed on the athletes' uniforms during the competition. Voyager Digital has signed a multi-year partnership agreement with the US Women's Soccer League. It is already a sponsor of the Dallas Mavericks basketball club and one of the most famous players in US football – Rob Gronkowski.
"What’s really intriguing to me is engaging with women’s sports, and that’s a very important aspect for us because it’s a market that we believe is ripe for education and an opportunity to give these women a stronger foothold on their financial future through crypto," Voyager CEO Steve Ehrlich said.
"You look at the number of people in the world investing in crypto - last year it doubled to 100 million, now it’s estimated to be more than 220 million, and a lot of people expect it to double again next year. When the base customer is growing at that rapid of a trajectory, there is going to be a lot of capital and marketing for brands that want to make sure they are top of mind even before you know that you want to invest in crypto,"Kevin Kane, senior manager of client strategy at sports market research company Navigate, noted.
