Sponsorship deals have become part of the measures that crypto-related companies employ in widening the knowledge and acceptance of cryptocurrency, one of the recent deals in the Australian Football League (AFL) and Crypto.com.
Most of these sponsorships have been on sporting teams, with more football and basketball.
This deal comes as the number 1 primary crypto sports sponsorship for AFL as this deal with Crypto.com will be backing its women’s league (AFLW).
The sponsorship deal, about $25 million, is expected to last for five years. It depicts an increase from the current $18.5 sponsorship contract AFL has with Toyota.
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This Crypto.com partnership with AFL represents its first sponsorship for an Australian sports team. Also, it stands as the initiating move from the crypto exchange in supporting an elite women’s sports competition globally.
Reacting to the milestone created by the sponsorship, Kylie Rogers confirmed that she is proud to be a part of it.
The general manager said that the AFL is proud of receiving the honor as the first Australian Sports league and the global elite women’s competition to partner with Crypto.com. She stressed their excitement in working with a company with the same passion. And for the progress and sustainability of elite sports and technology.
Reason Behind Sponsorship Deal With Crypto.Com
Karl Mohan, the general manager of Asia and Pacific of Crypto.com, is on his part. He revealed that his company’s attraction came from the high volume of interested women in cryptocurrency.
Mohan stated that their latest research on their Australian customers revealed female investors in cryptocurrencies were over 53%. The general manager mentioned that such a discovery is quite encouraging.
According to Mohan, this indicates that crypto adoption in Australia cuts across all levels without any inhibition from either gender or background. So, Crypto.com is pleased to serve as their beck-on-call platform for any of their crypto-related activities.
In August, a survey from CNBC disclosed that women’s participation in crypto investments is far below half of their male counterparts. The report indicated that while 16% of men were involved, only 7% were recorded.
The Singapore-based crypto exchange, Crypto.com, provides many crypto services to its customers. These include digital wallets, crypto-backed debit cards, and others.
In addition, the crypto exchange has had several sponsorships deals from sports brands within the past few months which amounts to more than $1.5 billion.
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Crypto.com, in June ending, bagged a $100 million sponsorship deal with Formula 1. This was followed closely with its July partnership with the UFC worth over $175 million.
Furthermore, mid-November saw the company with a new agreement of renaming the Staples Center in Los Angeles to the Crypto.com Arena. The deal worth over $700 million is expected to cover the next 20 years.
The total crypto market cap stays below $2 trillion | Source: TradingView.com
Featured image from Pixabay, chart from TradingView.com
