Crypto.com, a leading exchange in the cryptocurrency ecosystem, is set to increase its sports advertising efforts in its quest for international dominance. Bloomberg reports that Steven Kalifowitz, the chief marketing officer of Crypto.com, has acknowledged the company’s intentions to ramp up its approach and attract new customers from outside the crypto business through sporting events.
Crypto.com has already seen success in its strategic approach, with its user base allegedly increasing from 80 million to 100 million in just a few months. The company made its mark on the digital advertising market by signing a multi-year contract to rebrand the Staples Center as the Crypto.com Arena in 2021.
The firm is also a prominent sponsor of the Crypto.com Miami Grand Prix in Florida. This sponsorship is valued at ten million dollars and is projected to last for ten years. Additionally, Crypto.com holds a $100 million, 5-year sponsorship license for the Grand Prix on a global scale.
Despite the significant expenditure, Crypto.com is eager to grow its advertising license. The company recently featured famous American musician Eminem in an advertisement at the Crypto.com Arena. The advertisement, which revived the Fortune Favors the Bold ads starring Matt Damon, gained widespread recognition.
In the past, cryptocurrency competitors saw advertisements during the Super Bowl as a major competitive advantage. However, this was followed by the crypto winter and widespread criticism, leading many to question the effectiveness of such marketing spends.
In today’s highlighted crypto news, Charles Hoskinson hints at a potential collaboration between Cardano and Bitcoin Cash.
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