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Crypto.com Says Sports Sponsorships Create Value as CRO Tokens Slide

Crypto.com, will be an official sponsor of the FIFA World Cup Qatar 2022 – Photo: Getty Images
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Crypto.com’s numerous sports sponsorship deals have “created huge brand awareness” for the company, according to the crypto exchange’s COO Eric Anziani, as the CRO token plunged 9% in less than a day.

In an interview with Bloomberg, Anziani said Crypto.com “is very proud of all the prestigious partnerships we have built to elevate our brand.”

He said these moves helped “embed and activate the brand in these sports in a way that spoke to the fan and created tremendous brand awareness.”

Anziani listed all of the sports partnerships Crypto.com has formed, which include naming rights to the current Crypto.com Arena in Los Angeles, and sponsorships with Formula 1 (F1), Ultimate Fighting Championship (UFC ), the National Basketball Association (NBA) equips the Philadelphia 76ers and the French football giant Paris Saint-Germain.

In August 2021F1 has announced the Crypto.com Overtake Award, where the winner of the award will be the F1 driver with the most overtakes in a season.

Crypto.com became the official title partner of the Miami F1 Grand Prix in February 2022.

In November 2021the Staples Center in Los Angeles has been renamed Crypto.com Arena.

The Crypto.com Arena is home to the National Basketball Association (NBA) teams, the LA Lakers and LA Clippers, as well as the National Hockey League (NHL) team, the LA Kings and the Women’s team. National Basketball Association (WNBA). the LA Sparks.

Mixed martial arts organization UFC announced a multi-year deal in July 2021 to allow Crypto.com to put its mark on the fight kit worn by UFC athletes during competitions, as well as on the clothing (shorts, sports bras and hoodies) worn by the personnel training.

The Philadelphia 76ers backetball team has made Crypto.com the official jersey partner of the n September 2021.

Finally, Paris St Germain G made Crypto.com the first official partner of the club’s cryptocurrency platform, also in September 2021.

Crypto.com managed to reach a new milestone of 70 million users worldwide.

USD CRO

Chronos still down

Chronos (CRO) the native cryptocurrency token of Cronos Chain, a decentralized and open source blockchain developed by Crypto.com is still down despite Anziani’s claims that these sports deals have “created huge brand awareness”.

CRO has spent the majority of 2022 in a downward spiral. It started the year at $0.5575 and is currently at $0.1151, an 80% drop, according to CoinMarketCap.

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Hope for a boost for the World Cup

In March 2022International association football governing body FIFA has announced that Crypto.com will be an official sponsor of the FIFA World Cup Qatar 2022.

This makes the crypto platform the exclusive trading platform sponsor of Qatar 2022 and “will benefit from significant brand exposure both inside and outside of the tournament stadiums,” Anziani said.

He said he was also looking forward to the World Cup. He said FIFA had said there would be five billion viewers, so it will be “huge for the industry and huge for Crypto.com.”

The 2022 FIFA World Cup will take place from November 21 to December 18.

When asked who he thinks will win the World Cup, he said that as a Frenchman he was a bit “biased”, but he wanted all the teams to “do well”.

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