Crypto Gathering More Sponsorship Deals
Last night we saw the latest crypto.com sponsorship deal come into play at the UFC 264 last night at the POIRIER VS. MCGREGOR trilogy bout. The deal is looking rather cheap considering it is reportedly worth $175 million over a 10 year period. $17.5 million per year when they have a reported fan base of over 625 million sounds a bargain considering the number of eyes that will be viewing these events. Personally I think Dana White sold himself short but then again he isn't exactly sharing this out with the fighters.
When we throw in all the other deals crypto.com have done just in the last few months they have been really busy and are way ahead of everyone else. Crypto.com has 6 deals covering various global sports costing in the region of $350 million. This is how a brand is built through in your face advertising even if it is fairly subtle.
The deal is for the branding of all fighting uniforms used in the UFC tournaments including the fighters kit plus for referees and officials. Unfortunately the fighters don't get any cut but can negotiate their own branding ambassador deals. I think this is what may cause a problem for UFC going forward as everything is just so one sided in their favor and as the popularity grows surely there has to be a breakaway as the fighters are not earning what they should be.
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The top 5 exchanges by volume and looking down the list look how small crypto.com are in 20th position yet they can afford to be spending millions on sponsorship deals.
What I find surprising about crypto.com is how small they really are yet they are leading the way getting their name out there. One would have thought the likes of Binance would be the one making sure they maintain their majority market share through being proactive. I think that if we look at it we have to presume that retail investors are more likely to join a crypto.com rather than a Binance and why crypto.com have targeted sports sponsorships so aggressively. Binance just looks like it is in a different league and why it will still remain number one. Investors and traders who understand crypto are already in Binance and the top exchanges already and are not the target market for crypto.com.
Binance has had more important things to worry about lately with regulators clamping down on the futures markets with leverage trading being the target. I suppose they also get their share of FUD but believe in this case it is justified however.
Every week something new is happening in crypto and keeping ahead of these things is not possible as things are rolling out that fast.
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Well I like the fact that crypto.com has a specific name that would capture the attention of newbies, unlike Binance which has a more generic name that may be unfamiliar to newbies. All in all, it is a positive and a win for crypto no doubt
Decent coverage out there. Though, are UFC fans crypto fans you think?
Definitely will fit the target market as a majority will be under 30. I think over the next 5 years crypto fans will change as everyone will most likely be wanting a piece of it. I am impressed with where crypto.com is going as 6 major sponsorship deals within 3 months is some going.
Yeah, they have been pushing really hard with the promo of late. Good to see that someone is.
I find this interesting hearing your perspective on branding, I just made a post about rebranding myself and find your perspective helpful
Good to see you around. Will go read your post now.
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appreciate it. Do you still have a show?
Really nice to see lot of people with crypto sponsorship shirt at the UFC game. Crypto dot com seem to do pretty well capturing lot of people attention into the crypto verse.