How Crypto.com is betting big on sports partnerships to reach a billion users

February 15, 2022 Singapore Blockchain Industry Updates

Crypto companies are betting sports advertising will help them go mainstream, and none have made a bigger splash than Crypto.com with a commercial on Sunday’s Super Bowl and a $700 million deal last year to rename the Staples Center in Los Angeles as the Crypto.com Arena.

Little known a year ago, the privately owned Singapore company ran a flashy Super Bowl ad alongside mega brands such as Budweiser, GM (GM.N) and Pringles, as well as rival crypto platforms, in a push to dramatically grow its user base.

Other crypto platforms FTX, Bitbuy and eToro also ran Super Bowl ads – with varying results. Coinbase (COIN.O) had a surge in traffic following its ad which resulted in the app crashing briefly over the weekend.

For Crypto.com, the adv was just the latest publicity push.

Last year, it launched a $100 million advertising campaign across 20 countries starring actor Matt Damon, inked sponsorship deals with the Philadelphia 76ers, the Ultimate Fighting Championship and Formula 1 Racing, and got 20 years of naming rights to the former Staples Center. On Thursday night, the Crypto.com Arena hosted the Super Bowl Music Fest.