jakiro
Author: Prem Reginald, Coingecho; Compilation: Deng Tong, Bitchain Vision World
There is a crazy journey between cryptocurrency world and sports sponsorship.During the bull market in 2021, cryptocurrency companies picked up to sponsor the largest sports teams and events.However, when the market was in trouble in 2022, the amount of sponsorship began to decrease, and the market value of 70-85% of the cryptocurrency was erased.In addition, the closure of the FTX of the main participants in sports sponsorship further accelerated this decline.But did the industry restore the momentum in 2024?
How much cryptocurrency sponsorship in the sports industry?
As of September 2024, from 2021 to 2024, the sports field has signed 92* cryptocurrency sponsorship.The following is the details of the sponsorship agreement signed over the years.
2021: The prosperity of cryptocurrency sponsorship
2021 marks the peak of cryptocurrencies’ participation in the sports field, which is due to the bull market.A total of 33 new sponsorship agreements were reached.This accounts for 35.9%of all sponsorship agreements signed between 2021 and 2024.Among them, FTX and Crypto.com are the main contributors, and have reached more than 5 new protocols throughout the year.The biggest transaction is Crypto.com acquired the right of Crypto.com Arena for $ 700 million, as well as the fascinating $ 210 million sponsorship reached by FTX and e -sports equipment Team Solomid.
Other main cooperation includes Zytara’s $ 100 million in Inter Milan and US $ 135 million in the US Professional Baseball League.These transactions are strategic measures taken by cryptocurrency companies to obtain mainstream attention and adoption.
2022: After the collapse
In 2022, the cryptocurrency bubble ruptured, resulting in only 25 new transactions, and 11 existing sponsorship agreements were still valid.FTX was a key participant in the field of sports sponsorship, but its closure has brought a major blow to the industry, leading to the cancellation of its cooperation with the Miami Heat Team.
However, that year also formed a large -scale sponsorship agreement.Bybit reached a $ 150 million agreement with the Red Bull team, and Vechain and UFC signed an agreement of $ 100 million.However, in general, with the sharp decline in the value of the tokens and the increasing suspicion of the entire industry, companies strive to maintain their livelihoods, and the speed of new transactions has slowed down.
2023: further decline
By 2023, as the cryptocurrency is in a bear market, the prospects will not improve.Only 8 new sponsorship agreements were signed, and the existing agreement renewed 14 copies.The impact of collapse and FTX residue still exists, and investors and companies are extremely cautious about large financial commitments.Nevertheless, OKX reached a $ 70 million transaction with Manchester City.
The reduction of new transactions indicates that the market is still uncertain, but companies such as OKX further invest in long -term partnerships.
2024: Slowly recover
Interestingly, a minor resuscitation appeared in 2024: 26 new sponsorship agreements were signed, and 16 agreements in previous years were still valid.However, this accounts for only 28.3%of all sponsorship agreements signed in the past four years.Crypto.com reached a second sponsorship agreement with the European Champions League, while Blockdag and the German Bundesliga’s Dortmund Football Club (BVB) reached an agreement worth $ 10 million.The number of new sponsorship has not yet exceeded the level of 2021, but the increase in activities shows that cryptocurrencies are slowly returning to the sports field.
Cryptive sponsorship of sports events
football
Since 2021, football has been the main goal of cryptocurrency sponsorship.At that year, there were nine new transactions, and there were 10 subsequent 1022, and fell sharply to only 3 items in 2023, and rebounded to 10 items in 2024.Early adopters include Manchester United, Chelsea, Inter Milan, Manchester City and Galatasare.Cryptocurrency companies will also target global events such as the European Champions League and the FIFA World Cup to attract international audiences with huge football.
Racing
Racing, especially the first -level Formula Racing (F1), is another hotbed for cryptocurrency sponsor.In 2021, there were nine new sponsorship agreements, and in 2022 and 2023, they fell to 6 and 3 respectively.In 2024, only three new agreements were reached.The notable transactions include Crypto.com as a US $ 100 million transaction as the official cryptocurrency partner of the first -class racing car, which is one of the largest contracts in the sport.Bybit’s $ 150 million transactions signed with the Red Bull team in 2022 truly consolidated the connection between cryptocurrencies and racing campaigns.In addition, FTX signed a multi -year agreement with the Mercedes F1 team.
E -sports
E -sports has also aroused a lot of interest in cryptocurrencies.The new transactions in 2021 and 2022 remained unchanged in four transactions, and then fell to a transaction in 2023.However, a positive turnaround has appeared this year, reaching up to 7 new transactions.One of the prominent transactions is the $ 210 million sponsorship reached with Team Solomid in 2021.Coinbase also cooperated with Blast Premier to sponsor a large counter -terrorist elite: Global Offensive (CS: Go) Championship to recognize its profound influence in the game community.In 2023 and 2024, Thunderpick was the main sponsor that supported Evil Geniuses and Heroic teams while organizing the “Counter -Strike 2” championship.
basketball
Basketball, especially NBA, flourished in encryption sponsorship in 2021, with 6 new sponsorship agreements.However, no new agreement was reached in 2022, and only one agreement was signed in 2023 and 2024.Nevertheless, when Crypto.com purchased the title of Staples Center at a price of $ 700 million in 2021, the movement received huge sponsorship.Before the closure of the Miami Heat Fire Team, the FTX signed a $ 135 million in crown agreement with the Miami Heating Team Stadium, and Coinbase also added this trend to sponsor the men’s and women’s league.The cryptocurrency exchange also signed an advertising agreement with Kevin Durant.
Sports with the most sponsors of cryptocurrencies
From 2021 to 2024, sports that ranked according to the number of cryptocurrencies sponsorship are as follows: as follows:
Major transactions and partnerships
FTX: The most active sponsorship
Before the closure in 2022, FTX was one of the most active cryptocurrency companies in the field of sports sponsorship.In 2021, the FTX signed a milestone agreement, including a $ 210 million sponsorship agreement reached with Team Solomid (e -sports) and a US $ 135 million agreement with the American Professional Baseball League (MLB).The FTX also cooperated with the NBA team to reach a $ 135 million crown agreement with the Miami Heating Team’s arena and sponsored the Golden State Warriors for $ 10 million.In addition, the FTX also entered the racing sports and reached a first -class equations with Mercedes.However, the closure of FTX has caused many such partnerships to be confused, and sports organizations are scrambling to fill this gap.
Crypto.com’s extensive influence in the field of sports
Crypto.com has become one of the most dominant participants in the field of sports sponsorship, and has established a partnership relationship in multiple sports projects and regions.The company’s investment covers various fields from racing to basketball and football:
basketball
In 2021, Crypto.com obtained the title right of the Los Angeles Lakers at home with a historical transaction of $ 700 million, which is one of the largest sports sponsorship ever in history.
Racing
Crypto.com strengthened the connection with the racing movement by cooperating with Aston Martin’s first -level Formula team and sponsoring the first -level equations itself at a price of $ 100 million in 2021.They also sponsored the first -level Formula Miami Grand Prix in 2022, further consolidating their position in the field of racing sports.
football
Football has become another focus of Crypto.com.In 2021, they sponsored the Italian Cup, the wonderful clips between Atlanta and Juventus were also cast and caused NFT.Their football sponsorship lasted until 2022. The company supports the FIFA World Cup and the Australian Football League, and became the official sponsors of the European Champions League in 2024.
Fighting movement
Crypto.com is also involved in fighting and reaching an agreement with UFC in 2021, highlighting their interest in hybrid martial arts.
Bybit and Red Bull Team
In 2022, Bybit and the first -level equations red bulls reached a $ 150 million sponsorship agreement, consolidating its position in the racing industry.The three -year cooperative relationship has made Bybit one of the largest cryptocurrency sponsor of the sport.
Coinbase
Coinbase expanded its influence in various sports, and signed a number of sponsorship agreements in 2021 and 2022.In 2021, Coinbase entered the e -sports world by reaching a sponsorship agreement with Blast Premier and signed a contract with NBA star Kevin Durant.Coinbase further entered traditional sports, cooperated with women’s NBA, and reached a sponsorship agreement with Dortmund (BVB) in 2022 to increase the popularity of European football.
Cryptocurrency companies with the most sports sponsorship
From 2021 to 2024, the top cryptocurrency companies with the most sports sponsorship are as follows:
Success and failure partnership
Successful case
Although the cryptocurrency market is facing fluctuations, some partnerships have become long -term successful cases, indicating that cryptocurrency companies can still have a long -lasting impact in the sports industry.The following are the reasons why these booming cooperation and their standing out:
Crypto.com’s diversified investment portfolio and continuous global influence
Crypto.com has established its position as a global power in the field of sports sponsorship.Its sponsorship agreement is not limited to one sport, but covers multiple aspects, and is consistent with top sports such as first -class racing, UFC, and football leagues with a large number of international fan bases.These transactions enable Crypto.com to interact with millions of fans around the world and establish a strong brand loyalty.Despite the collapse of the market, many of the partnerships continue to exist, highlighting the toughness of the brand’s strategic investment.
The steady status of Bybit in the first -level equations
The $ 150 million sponsorship agreement reached with the Red Bull team in 2022 was a major victory for cryptocurrency exchanges.As the first -class equations are becoming more and more popular globally, this cooperation has given Bybit a fan base of wealthy and proficient technology, helping it to consolidate the market position.
OKX’s strategic measures to enter football
Despite the decline in the cryptocurrency market, OKX successfully signed a major sponsorship agreement with Manchester City in 2023.Through the alliance with one of the largest clubs in the world, OKX has increased its brand awareness in Europe and the world.
Failure partnership
FTX’s collapse and consequences
FTX is one of the most active participants in the field of sports sponsorship, but its dramatic collapse in 2022 has led to a breakdown of multiple partnerships.Team Solomid is the most affected because their huge amounts of transactions failed.In addition, after the FTX terminated $ 135 million in transactions, the Miami Heat’s Arena had to find new sponsors.The US Professional Baseball Grand League’s US $ 135 million in transactions ended in failure, affecting its source of income from cooperation.
Voyager’s sponsorship of NASCAR
The cryptocurrency lending company Voyager faced bankruptcy in 2022, causing its sponsorship agreement with NASCAR to terminate.Voyager’s closure not only caught its customers into financial dilemma, but also invalidated its transactions with NASCAR, marking another failed cooperation in the encryption sports field.
Terra’s sponsorship of the Washington National Team (baseball)
After Terra closed down, the 38.2 million US dollars reached by the Terra and Washington National Team transactions in 2022 became a bubble.The partnership is designed to promote Terra’s stable currency $ USS, but because the company announced bankruptcy, the partnership has never been fully realized.
Why does cryptocurrency company sponsor the sports team?
Since 2021, cryptocurrency’s sponsorship has surged, which can be attributed to several key motivations.Although traditional sponsorship is usually aimed at increasing brand awareness and customer participation, there are unique reasons for cryptocurrency companies to enter the sports field.The following is the subdivision of the core driving factors behind these partnerships:
Brand awareness and popularity
One of the main reasons for the cryptocurrency company sponsoring sports team is to increase its brand awareness of the majority of audiences around the world.Sports competitions, especially the first -level Formula, European Champions League, NBA and FIFA World Cup, etc., attracting millions of audiences around the world.By maintaining consistent with these major events, cryptocurrency brands can display their logo, information and identity in front of different audiences.
Legality and trust
The cryptocurrency industry has been questioned by the public for a long time because it is volatility and is related to high -risk investment and scams.Sponsoring well -known sports teams or events provides a halo of legitimacy for cryptocurrencies.Cooperation with well -known sports brands allows cryptocurrency companies to show themselves as credible and stable companies.
Fan participation and adoption
Sports fans are full of passion and high participation, which makes them the ideal audience of cryptocurrency companies that want to establish a deeper connection and promote their products.Through sponsorship, the encrypted platform can directly promote NFT (intangible homogeneous tokens), fan tokens and other blockchain products to fans.This enables them to set up a bridge between sports enthusiasts and digital assets to encourage fans to participate in the encryption platform.
Global influence
Cryptocurrencies are essentially global, sponsoring sports with international fans so that these companies can develop new markets.Sports sponsorship provides an unparalleled global audience access to help encrypted brands break through geographical obstacles and expose customers outside the traditional technology circle.
Innovative marketing opportunities
Sponsorship also enables encrypted companies to explore innovative marketing opportunities, such as providing sports fans with exclusive NFT, discounts or encryption bonuses.In turn, these interactions have created new contact points, and potential customers can explore cryptocurrencies in a more approachable and more attractive way.
