One of the big headlines in the sports world this past week was crypto.com taking over the naming rights for what has previously been called Staples Center. crypto.com spent $700 million over the next 20 years to put their name on the building, starting on Christmas Day.
That’s just one instance of crypto companies jumping all-in on sports advertising.
It’s by far the fastest-growing sponsorship category in sports, and you’ll be seeing logos in many places in the coming months.
FTX is a crypto exchange that spent $135 million for the naming rights of American Airlines Arena in Miami.
SoFi Stadium is the $5.5 billion stadium in Los Angeles that will host the Super Bowl in February. SoFi is a fintech company that offers investing in crypto.
That’s just real estate; the other place crypto companies will be very present is on team uniforms. Both the Trailblazers and Sixers in the NBA already have patches on their jerseys for crypto companies.
The UFC got in early, signing up crypto.com in a nine-figure advertising deal where the logo will show up on all fighters’ apparel.
Experts tell Morning Brew that you better brace yourself for an onslaught of ads coming up on the Super Bowl, as companies will be lining up to spend $6 million or so for a :30 spot.