2 Crypto Companies Are Spending Massive Amounts On Sports Sponsorships: 6 Of The Biggest Deals

Zinger Key Points
  • Investors who are interested in knowing which crypto companies are pushing the industry forward should consider the sponsorships opened by these two crypto exchanges.
  • a 20-year deal valued at $700 million.
2 Crypto Companies Are Spending Massive Amounts On Sports Sponsorships: 6 Of The Biggest Deals

Venture capitalists spent a record $33 billion on crypto and blockchain startups in 2021, more than all prior years combined, according to data by Galaxy Digital Research.

$22 billion of the total went to fundraising rounds with deal sizes above $100 million. Crypto and blockchain startups received almost 5% of the venture capital deployed in 2021.

An important metric: We know that growth in an industry can be signified by the amount of external investments being poured into the industry, but taking it a step further: how many investments are being made to promote the industry?

Investors who are interested in knowing which crypto companies are pushing the industry forward should consider the sponsorships opened by these two crypto exchanges, Crypto.com and FTX.US.

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  • Crypto.com purchased the naming rights to the Staples Center in Los Angeles in a 20-year deal valued at $700 million.
  • FTX.US inked a long-term partnership with the MLB to promote and advertise the company's branding.
  • Crypto.com spent $175 million on a 10-year deal with the UFC for "fiight kit" sponsorship that will promote the company’s logo on fighter apparel.
  • FTX purchased the naming rights to the Miami Heat's arena in a 19-year deal worth $125 million.
  • Crypto.com closed a five-year, $100-million sponsorship with Formula 1 racing, allowing the exchange to promote its website at F1 races globally.
  • FTX purchased the naming rights to esports team TSM for $210 million, renaming the team to TSM FTX.

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