Why are sports teams investing in crypto?

The multi-million dollar investments in sports deals is mainly aimed at building legitimacy and engagements with sports fans. Crypto deals with sports teams and leagues grew over 100% in 2021 and are expected to reach $5 billion by 2026, according to sports analytics firm, Nielsen Sports.

How much will cryptocurrencies spend on sports sponsorships in 2021?

The total number of deals between crypto and sports companies grew 1,100% between 2019 and 2021, according to Nielsen's latest global sports marketing report. And Nielsen analysts projected that the blockchain companies will spend $5 billion on sports sponsorships in 2026, up 778% on 2021.

How big are sports crypto deals?

Crypto deals with sports teams and leagues grew over 100% in 2021 and are expected to reach $5 billion by 2026, according to sports analytics firm, Nielsen Sports. The Growth of Bitcoin, Dogecoin and Shiba Inu coins can largely be attributed to the massive communities behind the projects.

Will sports advertising help Crypto go mainstream?

Feb 14 (Reuters) - Crypto companies are betting sports advertising will help them go mainstream, and none have made a bigger splash than Crypto.com with a commercial on Sunday's Super Bowl and a $700 million deal last year to rename the Staples Center in Los Angeles as the Crypto.com Arena.