Crypto.com has become the first cryptocurrency platform to secure an exclusive partnership with the UEFA Champions League.
The multiyear partnership, which will see the centralized crypto exchange become an official global sponsor of the UEFA Champions League, was announced on Aug. 14.
Partnering with one of the most popular sports leagues in the world is a significant step for the crypto exchange, said Steven Kalifowitz, chief marketing officer of Crypto.com. He wrote:
“We have successfully built the Crypto.com brand and community by producing innovative and groundbreaking moments and events in a way that others have not been able to replicate. Connecting our brand with engaged sports fans around the world has effectively grown our user base to over 100 million in pursuit of our mission of cryptocurrency in every wallet.”
Large sporting events can bring cryptocurrency awareness to millions of new mainstream adopters, which could introduce newfound capital into the crypto market. Onboarding new mainstream users can significantly increase the future valuation of cryptocurrencies.
Crypto.com partners with UEFA. Source: Crypto.com
Why mainstream crypto adoption matters
Following the adoption curve of new technologies like Bitcoin can offer investors insights about its potential valuation.
Bitcoin’s (BTC) price could reach an “ultimate price” of $700,000 if the adoption curve surpasses the 16% threshold, according to popular Bitcoin analyst Willy Woo, who wrote in an Aug. 1 X post:
“16% is the early majority, 50% is the late majority. Wealth management is somewhere in this sector. So figure out when BTC adoption enters 16%-50% world adoption based on the yellow line.”
BTC adoption s-curve. Source: Willy Woo/X
It took Bitcoin over 15 years to be adopted by 4.7% of the world’s population as of Aug. 1. Yet Bitcoin’s adoption rate could see an acceleration if it follows the path of the internet’s adoption, which saw a significant uptick after the first 15 years.
Related: $35T US national debt could bolster Bitcoin’s adoption as ‘hard money’
UEFA partnership will accelerate mainstream crypto adoption: Crypto.com CMO
The crypto platform’s new partnership is another sign of its commitment to “aggressively grow” in its second-largest market, Europe.
The large number of UEFA fans will significantly contribute to overall crypto adoption, according to Kalifowitz, who told Cointelegraph:
“UEFA is also the biggest sports league in the world, reaching 3 billion fans worldwide. I have no doubt that adding UEFA to our already world-class portfolio of partners will accelerate the adoption of crypto through Crypto.com.”
Top 13 crypto exchanges by trading volume. Source: CoinMarketCap
Crypto.com is currently the world’s 13th largest exchange, with a daily trading volume of over $2.7 billion, compared to Binance’s $11.4 billion, which is the world’s largest crypto exchange, according to CoinMarketCap data.