Crypto.com Says Sports Sponsorship Builds Value As CRO Token Slides

Crypto.com’s many sports sponsorship deals have “created tremendous brand awareness” for the company, according to the crypto exchange’s chief office officer, Eric Anziani, as the CRO token plunged 9% in less than a day.

In an interview with Bloomberg, Anziani said Crypto.com “is very proud of all the prestigious partnerships we have built to elevate our brand.”

He said the moves help “embed and activate the brand in these sports in a way that speaks to the fans and has created tremendous brand awareness.”

Anziani listed all the sports partnerships Crypto.com has formed, which include the naming rights to the now Crypto.com Arena in Los Angeles, and sponsorships with Formula One (F1), the Ultimate Fighting Championship (UFC), the National Basketball Association (NBA) team the Philadelphia 76ers and the French football giant Paris Saint-Germain.

In August 2021, F1 announced the Crypto.com Overtake Award, where the winner of the award will be the F1 driver who has made the most overtakes in a season.

Crypto.com became the official title partner of the F1 Miami Grand Prix in February 2022.

In November 2021, the Staples Center in LA was renamed the Crypto.com Arena.

Crypto.com Arena is home to the National Basketball Association (NBA) teams the LA Lakers and the LA Clippers, as well as the National Hockey League (NHL) team, the LA Kings and the Women’s National Basketball Association (WNBA). LA Sparks.

The mixed martial arts organization UFC announced a multi-year deal in July 2021 to allow Crypto.com to place its brand on fight uniforms worn by UFC athletes during competition, as well as on clothing (shorts, sports bras and hoodies) used in training. staff.

The basketball team Philadelphia 76ers in made Crypto.com the team’s official jersey partner in September 2021.

Finally, Paris St Germain G made Crypto.com the club’s first official cryptocurrency platform partner, also in September 2021.

Crypto.com has managed to reach a new threshold of 70 million users globally.

CRO to USD

Cronos still down

Cronos (CRO) the original cryptocurrency token of Cronos Chain, an open-source decentralized blockchain developed by Crypto.com, remains down despite Anziani’s claims that these sports deals have “created enormous brand awareness”.

CRO has spent most of 2022 in a downward spiral. It started the year at $0.5575 and is currently at $0.1151, an 80% drop, according to CoinMarketCap.

Hoping for a WC boost

In March 2022, the international governing body of football’s governing body, FIFA, announced that Crypto.com will be an official sponsor of the 2022 FIFA World Cup Qatar.

This makes the crypto platform the exclusive trading platform sponsor of Qatar 2022 and will “benefit from significant brand exposure both inside and outside the tournament’s stadiums,” Anziani said.

He said he was also looking forward to the WC. He said FIFA has said there will be five billion viewers, so it will be “massive for the industry and massive for Crypto.com”.

The FIFA World Cup 2022 will take place from November 21 to December 18.

Asked who he personally wants to win the World Cup, he said as a Frenchman he was a bit “biased” but he wanted all the teams to “do well”.

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