FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be the official sponsor of its next World Cup in Qatar.
In an announcement on Wednesday, the federation said Crypto.com’s branding will appear both inside and outside stadiums for the FIFA World Cup Qatar 2022, which is set to begin in November. The crypto exchange offers its users the opportunity to participate in games and win official goods as part of sponsorships.
According to FIFA Chief Commercial Officer Kay Madati, the agreement will help expand the games “on a global scale,” citing Crypto.com’s partnerships with other companies around the world. In November the exchange signed a renaming agreement 20 years from the Staples Center in Los Angeles to the Crypto.com Arena. Crypto.com also has Partnership with the Australia Football League in a $25 million deal, signed a $100 million sponsorship deal with Formula 1 and signed a 10-year, $175 million sponsorship deal with the Ultimate Fighting Championship.
Although trading cryptocurrencies including bitcoin (Bitcoin) has been largely illegal in Qatar since the country’s central bank announced a ban in 2018 – and reiterated in January 2020 by the regulator of Qatar’s financial center – that given football’s popularity in the world, Crypto.com is likely to reach an international audience Stage. FIFA reported that more than 3.5 billion people watched the 2018 FIFA World Cup in Russia and more than a billion watched the final between France and Croatia.
With less than eight months to go until the start of the World Cup, the event has been overshadowed by allegations of corruption and bribery stemming from the Qatar 2022 bid process. In April 2020, the United States Department of Justice determined charged three people linked to “the payment and receipt of bribes and kickbacks” for the selection of FIFA countries to host the World Cup, including Russia 2018 and the upcoming tournament in Qatar. There is also the international non-governmental organization Human Rights Watch allegedly Abuse and slave-like conditions for workers hired to build infrastructure for the event.
Naturally #FIFA wants to develop football further #Qatar – it’s an endless stream of revenue straight into their pockets, never mind #Corruptionhuman rights violations and everything else. https://t.co/OEMXjkxjxC
— Irina Tsukerman (@irinatsukerman_) March 22, 2022
https://cointelegraph.com/news/crypto-com-becomes-official-sponsor-of-2022-fifa-world-cup-in-qatar Crypto.com becomes an official sponsor of the 2022 FIFA World Cup in Qatar