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Crypto.com 24h trading volume is ~$400m, so they're doing $175B in trading volume every ~450 days. By those metrics, the sponsorship deal doesn't seem unreasona
by axg11 4y ago
Crypto.com 24h trading volume is ~$400m, so they're doing $175B in trading volume every ~450 days. By those metrics, the sponsorship deal doesn't seem unreasonable? Clearly they're not getting $400m in incremental volume as a result of the sponsorship but over 20 years the ROI is in the right magnitude. It's also notable that retail traders (the target audience of a sports sponsorship) are the most lucrative and pay the highest fees.
- Ecco 4y agoSo they spent over a year of revenue on a local marketing stint. That’s pretty far past the reasonable line to me. Now maybe it was a good bullish move, but the article’s point is that so far this has never been the case for every other company that pulled something similar off.
- paxys 4y agoIt is very far from local. NBA has an audience of tens of millions per game and the viewership is growing fast in international markets.
- etempleton 4y agoThey also sponsored the Miami GP and have a larger sponsorship with Formula 1 and other sporting events. Not to mention the tv commercials with Matt Damon. They have easily spent billions of dollars in marketing this year alone.