Crypto.com is the latest cryptocurrency exchange trying to appeal to esports fans. Today it announces that it has signed a sponsorship deal with the team, Fnatic.
$15 Million Agreement
The five-year deal is worth more than $15 million in total and makes Crypto.com the team’s ‘Global Cryptocurrency Partner’. London-based esports team Fnatic is best known for its League of Legends European Championship (LEC) team. Furthermore, it is known for successful teams competing in games such as Counter-Strike: Global Offensive and Dota 2.
The Crypto.com logo appears on Fnatic team jerseys. The team also offers unspecified rewards and exclusive deals to Crypto.com users. It also wants to partner with plans to launch Fnatic-branded NFT collectibles. In addition, the companies will collaborate on content initiatives, including those focused on cryptocurrency education and financial literacy.
Fnatic’s deal comes after a number of recent partnerships between cryptocurrency exchanges and popular esports teams. FTX signed a 10-year naming rights deal of $210 million with TSM in June. Coinbase joined Evil Geniuses and Uniswap sponsors Team Secret.
In addition, FTX is a cooperation entered into with League of Legends developer Riot Games to sponsor its esports tournaments, while Coinbase sponsors tournaments from organizer ESL.
In addition to the stability provided by the five-year deal, Fnatic Partnerships Director George Mead said plans for digital branded products and Crypto.com’s commitment to going carbon negative were the key drivers in the partnership.
“Crypto.com’s sustainability and long-term approach is great for Fnatic and the esports industry as a whole,” said Mead. “They work with some of the biggest sports brands in the world. We are thrilled to be their first partner in esports.”
As Mead mentioned, this is just the latest announcement in a long line of sports industry sponsorship deals for Crypto.com. The exchange also works with brands like the UFC, the Formula 1 and F1 team Aston Martin, the NHL’s Montreal Canadiens and the football team Paris Saint-Germain.
The approach is in line with that of the FTX exchange, which has also signed a series of sports sponsorship deals in recent months. For example, FTX has signed a deal with NFL star Tom Brady and NBA star Stephen Curry. These great sports deals have, according to data, made the FTX exchange more popular than ever.
Will this strategy do the same for Crypto.com? The company did not provide specific details when asked about the impact of its sports sponsorship. Kris Marszalek, CEO of Crypto.com, only commented:
“We are blown away by how well all of our partnerships have been received by fans around the world.”