Crypto.com seems to be on a mission to become the most visible cryptocurrency exchange in sports, signing its latest sponsorship deal in golf.
The company has become the title sponsor of The Showdown, an upcoming two-v-two event featuring Rory McIlroy and Scottie Scheffler against Bryson DeChambeau and Brooks Koepka.
Taking place on 17 December in Las Vegas, the tournament is the first-ever in the sports history with a multimillion dollar purse paid entirely in cryptocurrency, paid for using Crypto.com’s Cronos (CRO) coin.
“Crypto.com’s mission is to accelerate the world’s transition to cryptocurrency and today’s announcement is our latest effort by introducing the world’s first major golf tournament with a purse in CRO cryptocurrency,” said Kris Marzalek, CEO of Crypto.com.
“This is testament to our confidence in the future of the US crypto market and the power of sports to bring fans to the most licensed crypto platform in the world – Crypto.com.”
Cryptocurrency in general has become a common feature of sports marketing and sponsorship activity as various companies in the mulit-trillion dollar sector seek to engage new customers and spread brand awareness.
Blockchain too has become commonplace in sports, with many clubs seeking to utilise non-fungible tokens (NFTs) as a fan engagement tool – though this has fallen off with the widespread decline the sector experienced in 2022 and 2023, but has bounced back to new heights when it pertains to Bitcoin.
Crypto’s sports activities remain resilient, however. Crypto.com has been one of the most visible companies in this field, with partnerships spread across football, combat sports, motorsports and now golf.
The firm is a notable partner of Formula One, with its branding appearing across racetrack billboards. It is also one of the flagship partners of the UFC, the world’s largest MMA promotion and signed a deal with the UEFA Champions League earlier this year.
Furthermore, in arguably its most significantly visible sports marketing strategy to date, it obtained the arena naming rights to the former Staples Centre in Los Angeles, home to the NBA’s Los Angeles Lakers, now named the Crypto.com Arena.
Ian Orefice and Bryan Zuriff, the respective founders of EverWonder Studio and BZ Entertainment – the two organisations which established and managed The Showdown – commented on the new partnership.
“The spirit of the Showdown has always been to unify and innovate the game by bringing together the best to deliver true stakes for the players and excitement for fans around the world.
“With Crypto.com as our title sponsor and a multimillion dollar prize purse in CRO cryptocurrency, this is a transformative moment for the game of golf and a potential blueprint for the future of professional sports.”
