Sports: crypto's ticket to the mainstream?

[KryptoBull]

Crypto is not only known for the stories of people who have made a fortune by investing in BTC, memecoins, or participating in airdrops, it is also being advertised in an extremely effective way. Although I don't like spot BTC ETFs, I think Google becoming more friendly to crypto and allowing spot BTC ETFs Ads is a big step towards allowing crypto to reach potential investors among Google users ^[1]. Besides that, we also have another potential market with billions of fans worldwide: sports.

I am not a fan of any sport, I am bad at most sports, including e-sports. I used to not know AIG on Manchester United's jersey or Emirates on Chelsea's jersey, but now I know OKX on Manchester City's jersey. My family was surprised to know that their favorite teams are being sponsored by crypto companies: Manchester United - Tezos, Barcelona - Chiliz, Bayern Munich - Bitpanda, Manchester City - OKX ^[2]. Even football legends such as CR7 and Messi have their own NFT collections ^{[3, 4]}. Digging deeper, many crypto companies have sponsored many teams, many tournaments and sporting events including football, basketball, racing... ^[5].

I am not surprised by the strategy of promoting brands through sporting events. The huge profits of crypto companies allow them to sponsor such events to bring their brands to sports fans and followers worldwide. Fans of a team or athlete tend to learn about and favor the brands of sponsors, whether it be brands of shoes, hats, drinks, and especially brands printed on jerseys. I feel that the golden age of banks and airlines in sporting events has ended due to economic instability, and crypto companies have become powerful and replaced them quickly.

I hope that through this new and effective advertising channel, crypto can reach billions of potential investors. I believe that they will have the need to invest to protect their assets and profit from crypto. The market will have new capital to grow and become stronger. I don't see new investors as just fools providing liquidity for more experienced investors. Every investor was once a newbie in the market, and together we can create the maturity of the crypto market.

I would like to know your opinion on the strategy of promoting crypto brands through sports:

• Can sports effectively raise awareness and trust for crypto brands?
• Does sponsorship influence fans to trust the crypto brand associated with their favorite team or athlete?
• Does the frequent presence of crypto sponsorships in sports signal mainstream acceptance and growing popularity of cryptocurrency?

References:
[1] Google Updates Advertising Policy for Crypto, Allows ETF Ads
[2] Most Valuable Crypto-Backed Sports Teams in the World in 2024
[3] The CR7 ForeverZone
[4] Lionel Messi NFT Sold for $1 million on Ethernity
[5] Why crypto companies are scooping up big sports sponsorships
Note:

• My opinion has been presented in a topic, on BitcoinTalk forum.
• This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
• This statement is to avoid accusations of plagiarism.

[MrSpasybo]

I hope that through this new and effective advertising channel, crypto can reach billions of potential investors. I believe that they will have the need to invest to protect their assets and profit from crypto. The market will have new capital to grow and become stronger. I don't see new investors as just fools providing liquidity for more experienced investors. Every investor was once a newbie in the market, and together we can create the maturity of the crypto market.

I would like to know your opinion on the strategy of promoting crypto brands through sports:

• Can sports effectively raise awareness and trust for crypto brands?
• Does sponsorship influence fans to trust the crypto brand associated with their favorite team or athlete?
• Does the frequent presence of crypto sponsorships in sports signal mainstream acceptance and growing popularity of cryptocurrency?

Sports are a beloved and widely followed field, transcending borders and races. Sponsoring sports for advertising has been a long-standing and highly effective strategy. Crypto entered this advertising market later, possibly due to legal issues. When crypto is still a risky asset, it is difficult to participate in sponsoring major events. FTX could be the trendsetter when advertising in the Super Bowl and renaming an entire stadium. Many crypto companies followed suit, leading to the current wave of crypto advertising.

1. Sports events can help crypto companies become more widely known and attract more investors. The emotions of viewers when watching sports can gradually become emotions towards the crypto brand.

2. I doubt this, usually they only care about their favorite team or athlete. But crypto users and investors will trust crypto companies more, because only when they have good financial potential can they sponsor major sporting events.

3. I see exploring a new advertising field as the maturity of crypto: being accepted by the sports world will also improve its reputation and reliability, while also strengthening the trust of users and investors in crypto.

[Faisal2202]

I feel that the golden age of banks and airlines in sporting events has ended due to economic instability, and crypto companies have become powerful and replaced them quickly.

You Noticed a good point but I don't really think that's the case, because advertising your brand on sports is very expensive, and big airlines already have enough funds that they are advertise themselves on some other sports, and if we speak of small airlines, or banks they don't have enough funds, to manage to advertise themselves on such sports. So crypto didn't replace them, instead the money these crypto people have replaced them. besides, if you look closely not only a crypto platform is advertising, but many other companies also put their ads on the sides and on the shirts as well.

I would like to know your opinion on the strategy of promoting crypto brands through sports:

• Can sports effectively raise awareness and trust for crypto brands?
• Does sponsorship influence fans to trust the crypto brand associated with their favorite team or athlete?
• Does the frequent presence of crypto sponsorships in sports signal mainstream acceptance and growing popularity of cryptocurrency?

Yes, crypto will raise a lot of awareness and trust among traditional people who were not aware of it before. To be honest, when the first time I saw crypto being advertised on football and some other sports, I was also shocked and realized that now there is no way back for BTC and other crypto platforms. Now is the only uptrend that we will see. Crypto is there to stay longer than few expected. 

[TomPluz]

When something is being followed by myriad of people even on a global scale then it can be a good venue to showcase or advertise something...and certainly sports fall into this category. I see many sports personalities and many events with sponsorship from crypto-related companies and I guess this is a good way to push the industry to the mainstream population. Of course, we also heard of bad stories like famous personalities made to endorsed projects which later on turn out to be frauds or scams but those are exemptions to the norms. In many cases, top exchanges who are making solid revenues are advertising via sports events and/or specifically working with known players to push for their brands. And with ETFs on the play, there is a good chance they can also be looking at how sports can be utilized to further their business and get more client base. Known figures like Aaron Rodgers, Shaquille O'Neal, Odell Beckham Jr., Trevor Lawrence, Tom Brady,  Cristiano Ronaldo and many more got involved with crypto sponsorships one way or another and this is telling us that there is big money here opening up solid opportunities for these people to cash in with.

[Cryptsafe]

I believe that nothing goes for nothing. I have seen all these sponsorship as an indirect means of advertisement which the sponsorship brands do benefit from because doing that alone is projecting their names and image to the whole world and that always attract fans of the club's they sponsor to their product. You could imagine an exchange sponsoring a club that has millions of supporter fan base globally I believe you know what that means. They end up getting traffic to their website with new sign ups and patronise. It is all a win win thing for both parties involved.

[joniboini]

1. I'm not sure how to calculate how effective advertising is, but seeing that companies use this method they probably get the result they want. I doubt they will continue sponsoring sports teams if it does not affect their brand. That being said, I know one brand that managed to snatch a sponsorship deal in La Liga, but they went bankrupt soon after that, so there's no easy answer to this question.
2. I believe it depends on the brand and the users' prejudice against them. If the users dabble in crypto and they know the brand beforehand, it will probably affect their perception of that brand to be more positive. On the other hand, if a user already believes crypto is useless, no amount of ads will change their beliefs in the short term.
3. Probably indirectly. It is better to assume that crypto companies have grown significantly so they have big capital to spend on sponsorship deals with mainstream sports teams. At the end of the day, as long as the business is not illegal, I'm pretty sure any brand can bid an ad slot. CMIIW.

[robelneo]

I would like to know your opinion on the strategy of promoting crypto brands through sports:

• Can sports effectively raise awareness and trust for crypto brands?

Sports and entertainment are the most followed industries just look at the amount companies and platforms are paying entertainers and actors, because they know that teams, actors, and sports personalities have a huge impact in any industry.

• Does sponsorship influence fans to trust the crypto brand associated with their favorite team or athlete?

Yes they do, just look at Crypto.com and Stake.com, they reached their leadership status in the industry they are representing because of sponsorships and they can continue to do this

• Does the frequent presence of crypto sponsorships in sports signal mainstream acceptance and growing popularity of cryptocurrency?

Absolutely sports and gambling have contributed a lot so we can say sports and gambling platforms are partners in both of their popularities.

[Trongduy]

• Can sports effectively raise awareness and trust for crypto brands?
• Does sponsorship influence fans to trust the crypto brand associated with their favorite team or athlete?
• Does the frequent presence of crypto sponsorships in sports signal mainstream acceptance and growing popularity of cryptocurrency?

1. Sports is a field with billions of fans, and appearing on television and real-world tournaments can really help these crypto brands become famous and attract more users.

2. Fans will be more aware of the brand, but trust will depend on the brand's reputation in the crypto market. For example, even though FTX has advertised or renamed the stadium, FTX's reputation in the market is still very bad.

3. Clearly, being advertised more frequently at major events and on television is a recognition for crypto, making it more credible to investors in the financial market.

[Lucius]

Sport is something that is followed by a lot of people in the world, although it should be noted that not all sports are equally popular (represented) in all countries. In some countries, such as the US, we know that the main sports are basketball, hockey, baseball or American football, while in Europe the number 1 sport is definitely football, with the exception of some countries where hockey is extremely popular.

There is no doubt that sport is a very good promoter of cryptocurrency, but it often happens that some smaller sports clubs promote something very dubious that later turns into a scam - and that is certainly not something that should happen. Also, a few years ago, a well-known sports center in the US was renamed after a certain CEX (if my memory serves me well) who bought the right to it, and that did not really meet with the approval of the local audience.

What I want to say is that sport as a promoter of crypto-currencies and everything related to it can be very effective, but all those who are in sport should not lightly accept every offer they receive because it can have bad consequences in the long term.

[Jating]

Lest we forget, one of the first use case of Bitcoin is gambling right? So why would a crypto enthusiast be surprised that up to this point, many sports club are being sponsored by crypto based platform? So for me I'm not shock by it, majority of top crypto has been represented by football clubs. There were even a basketball home court in Los Angeles called Crypto.com (formerly called Staples Center). I will be stun if by this time, sports + gambling + crypto is not aligned themselves as sports and gambling are a billion dollar industry and at some point they will venture together to make more money, simply as that.

[Google+]

Lest we forget, one of the first use case of Bitcoin is gambling right? So why would a crypto enthusiast be surprised that up to this point, many sports club are being sponsored by crypto based platform? So for me I'm not shock by it, majority of top crypto has been represented by football clubs. There were even a basketball home court in Los Angeles called Crypto.com (formerly called Staples Center). I will be stun if by this time, sports + gambling + crypto is not aligned themselves as sports and gambling are a billion dollar industry and at some point they will venture together to make more money, simply as that.

Cryptocurrencies can be used anywhere as long as they provide positive things, many people will talk about them. With gambling and sports, cryptocurrency can indeed be used as an alternative for making transactions on online gambling sites and is easier than using Fiat, therefore cryptocurrency has top priority on gambling sites.

[KryptoBull]

Sport is something that is followed by a lot of people in the world, although it should be noted that not all sports are equally popular (represented) in all countries. In some countries, such as the US, we know that the main sports are basketball, hockey, baseball or American football, while in Europe the number 1 sport is definitely football, with the exception of some countries where hockey is extremely popular.

There is no doubt that sport is a very good promoter of cryptocurrency, but it often happens that some smaller sports clubs promote something very dubious that later turns into a scam - and that is certainly not something that should happen. Also, a few years ago, a well-known sports center in the US was renamed after a certain CEX (if my memory serves me well) who bought the right to it, and that did not really meet with the approval of the local audience.

What I want to say is that sport as a promoter of crypto-currencies and everything related to it can be very effective, but all those who are in sport should not lightly accept every offer they receive because it can have bad consequences in the long term.

I also do not expect sports fans to easily trust and invest in projects that appear on advertisements or sports events. The crypto market is actually much riskier than traditional investors can imagine. At least, they also have the opportunity to know and learn about crypto, then only a few percent of them actually become crypto investors, then the ads have completed their task.

I think the big impact will be on people who are already investing in crypto: when they see familiar brands in sports events, they may be more confident in that brand and continue to use or invest more in the future. The purpose of ads is not only to help brands reach new customers, but also to build loyalty and trust with existing customers!