The Federation of International Football Association, in short FIFA, is the main international governing body of the major football tournaments, has declared that the crypto coin exchange platform crypto.com is going to be the official sponsor for the Football World Cup in Qatar this year.
Through an announcement on Monday, the association has stated that the branding of Crypto.com will be exhibited both outside and inside of the stadiums for the 2022 FIFA World Cup that is scheduled to begin in November. As a part of this sponsorship, the cryptocurrency exchange platform will offer opportunities for the users of their platform through which they will be able to attend live matches from the stadium and win official merchandise as part of their sponsorship agreement.
Kay MAdati, the chief commercial officer of FIFA, has stated that with this deal, the game can definitely grow on a larger scale because of Crypto.com’s partnership with other companies and entities. The exchange platform completed a deal in November last year with a Los-Angeles based entertainment and sports venue to rename their Staples Center as Crypto.com arena for 20 years. The Australian Football League has also joined Crypto.com in a 25 million dollars deal; another 100 million dollars deal was completed by Crypto.com with Formula 1 and has completed a 10-year sponsorship deal worth 175 million dollars with the Ultimate Fighting Championship.
The country’s central bank has imposed bad on cryptocurrencies, including the Bitcoin (BTC), since 2018 and the decision has been reaffirmed two years later in January 2020 by the Qatar Financial Center Regulatory Authority. But Crypto.com is aiming at the international crowd because of the tremendous popularity of the game on the international stage.
According to a report by FIFA, the number of people who have watched the 2018 FIFA World Cup is more than 3.5 billion. The final match between Croatia and France was viewed by more than a billion people. There are less than eight months remaining since the start of this big event, but the whole situation is right now being overshadowed by the proclamation of bribery and corruption in the bidding process.
The United States Department of Justice has connoted that three individuals were connected to the payments and kickbacks for the selection of the country to organize the grand event, including the previous Russia World Cup in 2018 and the Qatar tournament, which will be held this year. Human Rights Watch, the non-governmental and international organization, has complained about the slavelike condition and abuse the workers who have been hired to construct the infrastructure in the project have been facing.