Will Crypto Profit From the FIFA World Cup?
- The 2018 World Cup had an estimated viewership of over 2 billion people.
- Crypto.com was announced as the official sponsor of the World Cup in May.
- Blockchain could gain massive exposure with crypto ads set to be displayed during games.
The FIFA World Cup is only hours away, and football fans are bracing up for a special moment. However, human rights concerns have marred this year’s tournament, with host country Qatar allegedly condoning abuse of foreign workers. Regardless, football fans are willing to focus solely on what goes on on the pitch.
The World Cup, which is held every four years, is seen as the chief event in the football world. Fans from all qualified nations enjoy the thrill of watching their teams battle against other countries as they gun for the top prize.
These games are watched by millions worldwide, more than any other sporting event. The 2018 finals between France and Croatia had 1.1 billion viewers, making it one of the most-watched soccer games in the world.
But aside from the chance to see new players shine and older players bow out in glory, the 2022 FIFA World Cup could also be a time for the cryptocurrency industry to gain massive exposure to billions of viewers. Crypto.com, a cryptocurrency exchange, sponsors this year’s event. Experts expect the 2022 World Cup to trigger a new wave of adoption for the crypto industry, as Crypto.com ads will feature during games and be watched by millions of sports fans.
FIFA launched its own NFT platform on the Algorand blockchain in September, which will also be featured at the World Cup. Blockchain seems fairly well represented at the global event, with several integrations and partnerships. For example, in May, Algorand was selected to be FIFA’s official blockchain partner and will sponsor the Women’s World Cup, which begins in 2023.
Regardless of the FTX situation, the FIFA World Cup could be the much-needed break the crypto market has been looking for. Fan tokens for both Portugal and Argentina saw huge surges hours ahead of the opening games on Sunday. This could be a sign of things to come.