Crypto News: The Revival of Sports Sponsorships in 2024
The Recovery of Crypto Sports Sponsorships
Crypto news reflects a cautious resurgence in sports sponsorship as brands forge 26 new deals in 2024. Despite this progress, the sector remains below the peak activities seen in 2021, which recorded an unprecedented boom with 42 new sponsorship agreements.
The Landscape of 2024
Reflecting the increased market stability, firms are once again allocating funds for marketing via sports sponsorship. Notably, Crypto.com sealed a major deal to sponsor the UEFA Champions League, highlighting the growing trend. Furthermore, Bitget solidified a partnership with LaLiga, aiming to bolster crypto adoption across various global regions.
Challenges and Opportunities
However, the road to recovery was marred by challenges, as 2022's downturn slashed the new deals significantly. The aftermath of major incidents like the FTX collapse left sponsorship activities on hold but improved prospects have begun surfacing. The emergence of key players securing substantial agreements indicates the sector's potential for innovation and growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.