TL;DR Breakdown
- Crypto.com has signed a 5-year partnership with AFL and AFLW.
- The deal is worth over $18m.
- The company has also announced a $200m funding for web3 projects.
Crypto.com, the popular cryptocurrency exchange has formed a 5-year partnership with the Australian Football League. With this landmark partnership, Crypto.com will now become an official partner of all competitions hosted by the AFL and AFLW.
With the addition of AFLW (AFL Women), Crypto.com has become the first-ever cryptocurrency trading platform to sponsor a women’s sports competition. The partnership will also give the platform exclusive naming rights of “Crypto.com AFL Score Review”.
Since last year, the popular exchange has been ramping partnerships with major sports competitions worldwide. Recently, the platform has also formed partnerships with the UFC, F1 (Formula 1), and NBA team Philadelphia 76ers.
Crypto.com is promoting crypto across the global sports industry
In November last year, the crypto exchange signed one of the biggest deals in its history, after acquiring the naming rights of the Staples Center. Since then, the iconic venue has been known as the Crypto.com Arena. With the latest AFL partnership, the leading crypto exchange is ramping up its presence in the global sports industry.
According to the platform CEO, this partnership will help the popular exchange to become of the leading service providers for wider cryptocurrency adoption in Australia. The country has recently opened the doors for massive crypto adoption across the board. Recently the Commonwealth Bank of Australia has announced plans to allow cryptocurrency trading on its banking platform.
Australia is most likely to be the next haven for cryptocurrencies, and Crypto.com will become a key service provider in the Australian crypto space.
What’s next for this crypto exchange?
With increasing sports deals and partnerships, the platform is set to target the metaverse and web3 applications next. Yesterday, Crypto.com capital announced the latest $200 million funding for Web3 projects in the coming months.
The company has also appointed veteran journalist Jon Russell as a general partner. Going forward, we can expect the popular crypto exchange to expand into metaverse projects and even NFTs.
Yesterday, there was a potential hack reported by the exchange. Some customers reported suspicious activities, leading to the suspension of withdrawal services on the platform. Since then, the services were restored.
