Crypto Sports Sponsorships Hit $565M in 2024
🏈 Crypto exchanges are storming the sports world with record-breaking sponsorships, pushing crypto sports sponsorships to $565 million in 2024.
⚽ Crypto sports sponsorships have surged by 20% compared to last year, reaching a massive $565 million in total spending, according to the latest data from sports marketing agency SportQuake. This trend marks a strong rebound in crypto marketing efforts across elite sports, especially in football and Formula 1.
💼 At the forefront of crypto sports sponsorships is Crypto.com, investing a staggering $213 million across high-profile deals, including the UEFA Champions League and Formula 1. Their aggressive strategy has cemented their place as the most visible crypto brand in global sports.
📈 Coinbase and OKX also made notable contributions to crypto sports sponsorships, further strengthening their brand visibility in football and motorsport. However, it was Gate.io that made headlines, entering the sponsorship arena with a bang by spending $53 million in its debut year.
🏁 Formula 1 has seen a dramatic rise in crypto sports sponsorships, with six crypto exchanges now backing F1 teams—up from four the previous year. These deals contribute to a $174 million annual spend in the sport alone, highlighting its increasing appeal to crypto brands targeting global audiences.
⚽ Football remains the crown jewel of crypto sports sponsorships, accounting for 20 of the 34 new deals signed this year. Gate.io’s partnerships with Red Bull Racing and Inter Milan mark a new chapter in how crypto firms are embedding themselves into the fabric of European football.
💬 According to Matt House, CEO of SportQuake, “Crypto.com solidified its leading position by adding the Champions League to its impressive sports sponsorship portfolio.” His remarks underline the scale and strategic intent behind these crypto sports sponsorships, especially as brands vie for dominance in a competitive and evolving sector.
📊 Despite the total falling short of the 2022/23 peak of $685 million, crypto sports sponsorships are on track to break new records by the 2025/26 season. This growth is expected to be driven by both expanded commitments from current sponsors and the entry of new crypto firms into the market.
👕 One of the biggest shifts expected in crypto sports sponsorships is the rise of crypto brands as front-of-shirt sponsors in football. With the Premier League’s 2026/27 ban on betting firms in these positions, crypto exchanges are in prime position to take over as the next wave of lead sponsors.
🚀 As crypto sports sponsorships mature, brands are increasingly aligning with clubs and leagues that offer deep engagement and global reach. From sleeve deals to trackside branding, crypto companies are embedding themselves in ways that go beyond simple logo placement.
🌐 With such high visibility and cross-border appeal, crypto sports sponsorships have become a cornerstone of Web3 brand building. This shift reflects the sector’s ongoing evolution from speculative hype to mainstream legitimacy through real-world partnerships.
