Cryptocurrency Shines at the Qatar 2022 World Cup
Since its founding in 2016, Crypto.com has grown exponentially, now serving over 70 million users while setting benchmarks for regulatory compliance and security in the crypto industry. Being named the official sponsor of the Qatar World Cup in March 2022 was a landmark moment, placing cryptocurrency in the spotlight of one of the world’s most-watched sporting events.
Crypto.com’s collaboration with VISA on an exclusive NFT collection featuring iconic World Cup goals further connected the football world to cryptocurrency. Enthusiasts eagerly engaged with these NFTs, while others used crypto for transactions during the tournament. Charter flights to Qatar accepted crypto payments, and select hotels allowed crypto bookings, providing fans with diverse ways to spend their digital assets.
Fan Tokens Surge During World Cup Activities
Fan tokens saw a massive surge in popularity leading up to the World Cup. Chiliz, the token behind Socios, experienced a growth of over 50% as fans sought tokens for their national teams. These tokens allowed fans to engage directly with their favorite teams and even participate in certain decisions.
The World Cup further boosted fan token engagement, with values often fluctuating based on match outcomes. Tokens representing teams like Portugal, Argentina, and France gained significant traction as the tournament progressed. This newfound popularity has extended into club football, reflecting the ongoing influence of the World Cup.
Football Icons Drive Crypto Engagement
Cristiano Ronaldo teamed up with Binance to launch exclusive NFTs, fostering greater crypto adoption. Ronaldo emphasized the unique ability to connect with fans through these NFTs, which experienced growing demand during the tournament, even as Ronaldo played a limited role in his World Cup farewell.
Meanwhile, Lionel Messi led Argentina to an unforgettable World Cup victory despite an initial upset against Saudi Arabia. His partnership with Bitget in campaigns like “The Perfect 10” and “Make It Count” aligned with his triumphant performance. This collaboration restored investor confidence in crypto after a challenging period marked by FTX’s collapse and a bear market. Bitget leveraged the partnership for its KCGI tournament, which drew record participation, with winners sharing over half a million Tether in rewards.
Growing Interest in Crypto Casinos
The bear market prompted many crypto holders to explore crypto casinos as an avenue for utilizing their assets. Online casinos capitalized on the World Cup’s excitement, integrating crypto payments and enabling betting on matches featuring the 32 competing teams. With many platforms already offering sports betting, the World Cup enhanced opportunities for both players and operators. This growing interest is expected to continue into club football, potentially cementing crypto casinos as a mainstream option.
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World Cup’s Role in Expanding Crypto Adoption
The Qatar World Cup, with over 26 million viewers, significantly raised crypto awareness thanks to Crypto.com’s sponsorship. This visibility showcased the industry’s offerings and benefits. Recently, Crypto.com celebrated Eric Anziani’s promotion to President while retaining his COO responsibilities, furthering its commitment to growth and innovation.
