Football’s international governing body, FIFA, announced on Tuesday, March 22, 2022, that crypto exchange, Crypto.com would be the official sponsor for the World Cup, the biggest football tournament in the world.
FIFA made the announcement via press release. The Association mentioned that Crypto.com’s branding would appear inside and outside of stadiums for the FIFA World Cup scheduled for November 2022 in Qatar.
As part of its sponsorship, Crypto.com plans to provide opportunities for its loyal users to get match tickets and win official merchandise from the tournament.
According to Kay Madati, the Chief Commercial Officer at FIFA, “We are delighted to have a global brand like Crypto.com join us as a sponsor of the exciting and groundbreaking FIFA World Cup in Qatar, ultimately helping to grow our beautiful game on a global scale.”
FIFA reported that the last World Cup in 2018 held in Russia had more than 3.5 billion viewers, with more than a billion watching the final between France and Croatia.
This is good news for Crypto.com, as their main reason behind sponsoring the world cup would be to showcase the brand to as many people as possible.
In November 2021, the exchange completed a deal to rename the Los Angeles-based sports and entertainment venue Staples Center to the Crypto.com Arena for 20 years.
It has also entered into a partnership with the Australia Football League in a $25 million deal, signed a $100-million sponsorship agreement with Formula 1, and signed a 10-year $175 million sponsorship agreement with the Ultimate Fighting Championship (UFC).
FIFA has always been surrounded by much controversy, especially due to their choice of Russia as the hosting nation in 2018 and now Qatar in 2022. There have been allegations of corruption and bribery during the bidding process for hosting the tournament.
In April 2020, the United States Department of Justice arrested three persons connected to “the payment and receipt of bribes and kickbacks” for FIFA’s selection of countries to host the World Cup, including Russia in 2018 and the upcoming tournament in Qatar.
Crypto.com is sure to get value for their money as half of the world will probably be tuned in to watch the world cup at the end of the year. Every football fan has been waiting since 2018.
