To attract non-cryptocurrency viewers, leading digital exchange Crypto.com plans to boost its sports advertising budget globally and concentrate on Formula One racing. The plan was validated by Chief Marketing Officer of Crypto.com Steven Kalifowitz, who noted that the company successfully grew its user base from 80 million to 100 million in a matter of months.
“What makes me most proud is that we’ve crossed the 100 million user mark and are now leading the industry in global licenses and registrations, making our platform the most heavily regulated in the business,” stated Steven Kalifowitz.
Crypto.com’s strategy differs from that of other companies, like FTX Exchange, which was accused of fraud, despite previous concerns during the cryptocurrencycurrency winter. The company’s recent ad at Crypto.com Arena featuring Eminem is indicative of its return to the cryptocurrencycurrency advertising scene.
Notable Agreements
Renaming the Staples Center as Crypto.com Arena and sponsoring the Crypto.com Miami Grand Prix for ten years at a cost of $10 million each, together with a five-year, $100 million global sponsorship of Formula One events, are two noteworthy agreements.
The augmented sports advertising expenditure by Crypto.com signifies a calculated attempt to get a larger viewership and profit from the resurrection of cryptocurrencycurrency advertising tendencies.
While cryptocurrencycurrency advertisements on major athletic events were competitive in the past, they drew flak during the Crypto Winter. But with cryptocurrencycurrency advertisements becoming more popular, especially from companies that issue Bitcoin ETFs like Hashdex, BlackRock, and Grayscale, Crypto.com hopes to bring this practice back.
Also Read: Crypto.com Initiates its South Korea Presence Post Exchange Acquisition
