- Crypto.com partners with major combat in Las Vegas.
- Exchanges are once again fighting for the spotlight.
- Crypto.com is known for its high-profile partnerships.
After a brief advertising pause during the bear market, crypto is again gaining mainstream visibility. Naturally, exchanges like Crypto.com drive this trend, as they have the most to gain by inviting more people to the crypto ecosystem.
Sponsored
Recently, Crypto.com announced a partnership with the Abu Dhabi Combat Club (ADCC) for the upcoming Submission Fighting World Championship 2024. As one of the biggest in mission grappling, the event will take place in Las Vegas, providing significant visibility for the exchange.
Crypto.com Partners with Abu Dhabi Combat Club
As crypto prices recover, exchanges are again taking steps to boost their visibility in the mainstream. On Tuesday, July 30, Crypto.com revealed its partnership with ADCC for the 2024 Submission Fighting World Championship.
This year, the biennial event will take place in Las Vegas on August 17-18. It will attract elite fighters from various disciplines, such as Brazilian Jiu-Jitsu, Sambo, Judo, and Catch-Wrestling. Thanks to this variety, the event is often referred to as the “Olympics” of the submission grappling sport.
By sponsoring this event, Crypto.com hopes to boost its visibility in the mainstream and attract more people to the crypto market, echoing the mainstream presence of crypto exchanges during the 2022 bull market.
Crypto Once Again Betting Big on Sports
Sports are attractive for crypto exchanges due to their broad appeal and massive audiences. The partnerships become particularly attractive when crypto is in a bull market. At that time, exchanges see a massive earning potential in attracting more people to the crypto market.
In recent years, crypto’s presence in the mainstream peaked during the 2022 bull market. One of the most notable events was the 2022 Super Bowl, often dubbed the “Crypto Bowl,” with multiple ads from crypto exchanges. Companies like Crypto.com, FTX, and Coinbase spent millions 30-second spots to reach the Super Bowl’s massive audience.
The aggressive push for crypto ads slowed down significantly afterward. Following the collapse of FTX and a broader market downturn, crypto companies were notably absent from high-cost advertising slots. In this context, Crypto.com’s advertising push is a sign that they expect further growth in the market.
On the Flipside
- The most high-profile Crpyto.com partnership was likely the NBA’s LA Lakers, NBA’s LA Lakers. The company reportedly bought the naming rights to the Staples Center in Los Angeles for $700 million, renaming it the Crypto.com Arena.
- As crypto gains more mainstream attention, regulators’ pressure increases. This is a significant hurdle in countries that don’t have a clear legal framework for the industry.
Why This Matters
By investing in sports marketing, crypto firms aim to increase the acceptance and adoption of digital currencies. High-profile partnerships also reflect Crypto.com’s positive outlook on the market soon.
Read more about Crypto.com’s recent growth:
Crypto.com Hits 100M Users: How It Stacks Up Against Rivals
Read more about Elon Musk addressing crypto scams:
Elon Musk ‘Won’t Be Promoting Crypto,’ Despite Pumping Doge for Years
