Crypto.com continues to push with its heavy investments in the sports sector as a marketing strategy. The exchange has inked a nine-year deal with the Formula 1 Miami Grand Prix.
This partnership deal comes a few days before a Crypto.com ad airs during the Super Bowl. Crypto.com joined other exchanges such as Coinbase in buying ads during the Super Bowl to promote their brands in front of the over 90 million people who watch the sporting event.
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Formula 1 Crypto.com Miami Grand Prix
A press release states that the F1 Miami Grand Prix promoter, South Florida Motorsports (SFM), has selected Crypto.com as the official title partner for the Miami Grand Prix.
“Deepening our global partnership with F1, we’re proud to be the first official title partner of the Formula 1,” Crypto.com said. The name of this event will now feature Crypto.com, boosting the exchange’s brand in the global Formula 1 fan base.
The deal will also allow Cryopto.com to feature its logo in the Miami International Autodrome facility. The logo of this event will also feature the exchange. The Crypto.com logo will also appear on the trophies and the podium. A Crypto.com Fan Zone will also be created as part of the deal to host other activities.
This deal will run for nine years. This is not the first time for the firm to partner with F1. In 2021, the exchange was the inaugural global partner in the Sprint series.
Crypto and sports
Cryptocurrency exchanges have been tapping into the sports sector to boost crypto awareness and attract new users. As aforementioned, Coinbase, FTX and Crypto.com have purchased ads during the Super Bowl.
Last year, FTX purchased the naming rights to the California Memorial Stadium, which has since been renamed the FTX arena. FTX has also partnered with Major League Baseball. Coinbase has also secured several deals in the sports industry, including being the official cryptocurrency exchange for the NBA.
Exchange giant, Binance, was the official cryptocurrency exchange for the Africa Cup of Nations (AFCON). Binance also entered into the Super Bowl hype urging new users not to be compelled by the many crypto ads during the event but to make informed investment decisions.