Crypto.com Buys Super Bowl Airtime after First U.S Soccer Sponsorship Deal
Crypto.com is a crypto platform designed to support the trading of cryptos and all crypto-related services. Not just a trading platform, Crypto.com also allows users to earn, spend, and borrow against cryptos.
This week, Crypto.com had hit the news wires, announcing the sponsorship of professional U.S women’s football team Angel City FC. Angel’s City FC’s founders include Natalie Portman, Serena Williams, Alexis Ohanian, Jennifer Garner, Eva Longoria, and Casey Neistat. Former members of the female U.S National soccer team are also amongst the founders.
Crypto.com and Sport
Crypto.com appears to have its eyes on he U.S crypto market. Following its sponsorship deal with Angel FC, news hit the wires today of Crypto.com’s purchase of Super Bowl 2022 airtime.
Super Bowl LVI will take place on 13th February 2022 at SoFi Stadium Los Angeles, which is the home of the San Diego Chargers and the Los Angeles Rams.
To put it into perspective, Super Bowl LV attracted 96.4 million viewers and this was reportedly the lowest number since 2007. The 2015 Super Bowl drew the largest TV viewing of 114 million, equivalent to one third of the entire U.S population.
According to the Wall Street Journal, the cost of an ad at Super Bowl LVI is $6.5m for 30 seconds. Last month, Crypto.com had paid $700m for the naming rights to the Staples Center, home of the LA Lakers.
The foray into sports is aligned with Crypto.com’s ambitions to become a top 20 consumer brand within the next 3-5 years.
Crypto.com’s focus has not just been on U.S sporting franchises. Additionally, Crypto.com has sponsored South America’s Conmebol, French football team PSG, the Coppa Italia, and Formula 1.
CRO Price Action
Year-to-date, Crypto.com Coin (CRO) is up 836%, supported by a 235% surge in November alone.
At the time of writing, CRO was up by 0.45% to $0.5391 versus a November ATH of $0.9550. Crypto.com’s brand ambitions should bring $1.00 levels back into play. Near-term, a break back through a current month high $0.7697 would support a run at November’s AHT.
Looking at the Daily candlesticks, the EMAs continue to deliver a bullish signal, with the 50 and the 100 pulling away from the 200 EMA. Avoiding a return to sub-$0.50 levels will be key to any breakout, however.