Crypto Sponsorship in the Sports Arena

bullrun2024bro

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Sports sponsorship by various crypto companies has been growing steadily since 2020. By now, various deals have been signed. Some of the sums involved are in the hundreds of millions or even billions. The space is growing faster than ever. Some of the biggest deals were e.g.:

Binance sponsoring the Copa Argentina
Crypto.com - $100m for a TV ad with Matt Damon (Crypto.com Looks to Cash In on Bull Market With $100M Advertising Campaign)
Crypto.com - $700m for a 20 year deal to rename Staples Center in Los Angeles to Crypto.com arena
Crypto.com, Coinbase and FTX Superbowl 2022 ads for €100+m in total
Crypto.com becomes official sponsor of the World Cup 2022 in Qatar
Floki sponsoring Bayer Leverkusen (German Bundesliga)

The biggest spenders in the US are FTX (18.3%) and Crypto.com (57.7%). For more information, please check this Bloomberg article that compares the total spending of different crypto companies since January 2020. A very interesting read: Crypto Exchanges Make Their Super Bowl Debut at Critical Time

Source: https://www.bloomberg.com/news/articles/2022-02-08/crypto-exchanges-make-their-super-bowl-debut-at-critical-time

Darker45

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Quote from: aoluain on April 01, 2022, 01:45:13 PM

Quote from: ultrloa on April 01, 2022, 09:14:59 AM

Quote from: mk4 on April 01, 2022, 02:29:11 AM

Quote from: logfiles on March 31, 2022, 11:44:14 PM

There have even been lawsuits against Mayweather because of the shitcoin that dropped in value after shilling it.

Though I doubt it, I sure wish they actually end up paying a price. Because whatever let them advertise bad cryptocurrencies(as there are bad businesses), but it's very different when they're advertising blatant obvious scams.

I also doubt that case will go forward since we know how influence will matter in this kind of situation. This is reminder to anyone that even though how the project look good and who are those famous guys promoting those coins we cannot still guarantee that we can earn with it. Its better to stick on what we believe and learn from experiences, rather than believing on fake promises and get scam by them.

And the trouble in these scenarios where $hitcoins are being advertised rather
than a service like exchanges and gambling sites, they are associated with a sports
team or individual so they are seen as reputable. The case above proves just because
its advertised it isnt necessarily healthy.

There's not much difference between shitcoins and shady centralized exchanges and gambling sites.

But there's always Caveat emptor. It reminds us that marketing or promotional ads are simply paid ads. The teams and individual players wearing these brands on their sleeve or in front of their jerseys do not vouch for whatever products and services they offer. In the same manner that bitcointalk is a reputable forum but it doesn't vouch for shitcoins and scam exchanges and scam gambling sites that are being promoted here.

aoluain

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Quote from: ultrloa on April 01, 2022, 09:14:59 AM

Quote from: mk4 on April 01, 2022, 02:29:11 AM

Quote from: logfiles on March 31, 2022, 11:44:14 PM

There have even been lawsuits against Mayweather because of the shitcoin that dropped in value after shilling it.

Though I doubt it, I sure wish they actually end up paying a price. Because whatever let them advertise bad cryptocurrencies(as there are bad businesses), but it's very different when they're advertising blatant obvious scams.

I also doubt that case will go forward since we know how influence will matter in this kind of situation. This is reminder to anyone that even though how the project look good and who are those famous guys promoting those coins we cannot still guarantee that we can earn with it. Its better to stick on what we believe and learn from experiences, rather than believing on fake promises and get scam by them.

And the trouble in these scenarios where $hitcoins are being advertised rather
than a service like exchanges and gambling sites, they are associated with a sports
team or individual so they are seen as reputable. The case above proves just because
its advertised it isnt necessarily healthy.

ultrloa

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Quote from: mk4 on April 01, 2022, 02:29:11 AM

Quote from: logfiles on March 31, 2022, 11:44:14 PM

There have even been lawsuits against Mayweather because of the shitcoin that dropped in value after shilling it.

Though I doubt it, I sure wish they actually end up paying a price. Because whatever let them advertise bad cryptocurrencies(as there are bad businesses), but it's very different when they're advertising blatant obvious scams.

I also doubt that case will go forward since we know how influence will matter in this kind of situation. This is reminder to anyone that even though how the project look good and who are those famous guys promoting those coins we cannot still guarantee that we can earn with it. Its better to stick on what we believe and learn from experiences, rather than believing on fake promises and get scam by them.

hugeblack

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I saw some Binance advertisement in the African Cup^[1] a while ago, and I also saw some advertisements for them in several teams.

Personally, I do not like such promotion. They are trying to increase the user base in all possible ways to increase their profits without having sufficient compliance. For example, I was surprised that my unverified account still accepts deposits, there are many problems and they only care about profit, the large expansion will bring them the eyes of scrutiny and if If this platform is audited, they will often find many violations.

[1] Binance to Become Crypto Sponsor of Africa Cup of Nations

Beerwizzard

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These ads are pretty efficient since such events like a serious tennis game are making the service look more legit. But it doesn't seem like this type of ads is moderated by at least someone. I've recently read that there is a well-known russian semi-scam betting website 1xBet and one time their service was advertised by Barcelona FC. So if it works like that with high level players then I guess that they wiukd advertise anyone who pays required amount of money. No matter if it is a crypto exchange or a local bakery.

Bttzed03

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https://bitcoincleanup.com/

Quote from: mk4 on March 31, 2022, 10:08:20 PM

Crypto.com was also a sponsor for multiple sports, though mostly plastered literally everywhere in the UFC.

Before that, Litecoin (LTC) was once introduced as the official cryptocurrency in one of their events (UFC 232).

mk4

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Quote from: logfiles on March 31, 2022, 11:44:14 PM

There have even been lawsuits against Mayweather because of the shitcoin that dropped in value after shilling it.

Though I doubt it, I sure wish they actually end up paying a price. Because whatever let them advertise bad cryptocurrencies(as there are bad businesses), but it's very different when they're advertising blatant obvious scams.

Strongkored

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Leading Crypto Sports Betting & Casino Platform

Ajla Tomljanovic Australian tennis star who got sponsors from crypto exchange btc market, this sponsor for 2 tournaments that took place in Australia earlier this year.
https://www.cryptopolitan.com/australias-largest-crypto-exchange-to-sponsor-tennis-star-ajla-tomljanovic/

Ac Milan sponsored by BitMex mid-last year the BitMex logo will be on the player's sleeve
https://www.acmilan.com/en/news/articles/sponsor/2021-08-10/bitmex-joins-ac-milan-as-first-ever-sleeve-partner

crypto companies are pretty much sponsoring in sports

logfiles

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Quote from: mk4 on March 31, 2022, 10:08:20 PM

...and shitcoins(freakin HEX) on Nascar as well.

Speaking of shitcoin sponsorships, I saw a one EthereumMax token appearing in a couple of boxing matches involving Floyd Mayweather. In fact, the events planners stopped so low to an extent of making people use EthereumMax tokens to buy the tickets for one of the boxing matches.

There have even been lawsuits against Mayweather because of the shitcoin that dropped in value after shilling it.

mk4

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Crypto.com was also a sponsor for multiple sports, though mostly plastered literally everywhere in the UFC.

Also, I've seen a lot of legitimate crypto platforms(Cash App, Voyager, ByBit, etc) and shitcoins(freakin HEX) on Nascar as well.

rat03gopoh

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Binance signed a partnership with AFA as main sponsor for Argentina’s powerhouse national soccer team for five years. Perhaps this means the binance logo will also appear at any soccer match that is being held in Argentina, including club matches.

https://www.cryptotimes.io/binance-sponsors-argentinas-national-soccer-team-along-with-fan-tokens/

aoluain

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There are two sports I watch regularly, Tennis and Rugby. This year I think is the first
year I have seen sponsorship of a Rugby team by a crypto service, this was Bitpanda's
sponsorship of the Italian Rugby team.

https://blog.bitpanda.com/en/italian-rugby-national-team-scores-try-bitpanda

Watching Tennis tonight and Osaka for the first time at Miami I realised she is sponsored
by FTX

https://www.totalsportal.com/news/naomi-osaka-joins-ftx/amp/

I realise a lot of crypto gambling sites as an example sponsor Soccer teams and
I think some crypto services team up with some motorsports.

It would be interesting to know if any other sports teams or persons are sponsored by
crypto services providers, Altcoin projects or endorse any Bitcoin specific projects.

Topic: Crypto Sponsorship in the Sports Arena (Read 159 times)