Sponsorship deals have become part of the measures that crypto-related companies employ in widening the knowledge and acceptance of cryptocurrency, one of the recent deals in the Australian Football League (AFL) and Crypto.com.
The majority of sponsorships are for sports teams. There is more emphasis on basketball and soccer.
This deal comes as the number 1 primary crypto sports sponsorship for AFL as this deal with Crypto.com will be backing its women’s league (AFLW).
This sponsorship deal is valued at $25 million and will be in place for five years. This is an increase on the $18.5 Toyota sponsorship deal.
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The first time that Crypto.com has sponsored an Australian team is through its partnership with AFL Also, it stands as the initiating move from the crypto exchange in supporting an elite women’s sports competition globally.
Kylie Rogers responded to the milestone achieved by sponsorship and said she was proud to be part of it.
The general manager said that the AFL is proud of receiving the honor as the first Australian Sports league and the global elite women’s competition to partner with Crypto.com. They are excited to work with companies with similar passions, she said. For the advancement and sustainability of technology and elite sports.
The Reasons Behind Crypto.Com Sponsorship Deal
Karl Mohan (general manager, Asia and Pacific, Crypto.com) is also on his side. He revealed that his company’s attraction came from the high volume of interested women in cryptocurrency.
Mohan claimed that they had just done a survey of their Australian customers and found over 53% were female crypto investors. According to Mohan, such an encouraging discovery was quite positive.
Mohan said that this means crypto adoption in Australia is widespread across the board, without regard to gender or cultural barriers. Crypto.com will be their platform of choice for all their crypto-related activities.
In August, a survey from CNBC disclosed that women’s participation in crypto investments is far below half of their male counterparts. It was revealed that 16% of male participants were participating, but only 7% were.
Crypto.com, a Singapore-based crypto trading platform, offers many cryptocurrency services. They include crypto-backed debit and credit cards as well as digital wallets.
The crypto exchange also has several sponsorship deals with sports brands in the last month, totaling more than $1.55 billion.
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In June, Crypto.com secured a sponsorship deal worth $100 million with Formula 1. It was closely followed by its $175 million partnership with UFC in July.
In mid-November, the company reached a new deal to rename the Staples Center Los Angeles to Crypto.com Arena. This deal, worth more than $700 million, is anticipated to last for the next twenty years.
Featured image taken from Pixabay. Chart from TradingView.com