Crypto.com Coin (CCC:CRO-USD) holders have had a pleasant end to their year. The Crypto.com exchange’s token turned out to be a favorite arbitrage play thanks to some savvy marketing schemes by the platform. And coming at the tail-end of this week could be by far the biggest of these catalysts. Crypto.com will be the face of a major piece of sports iconography.
The Crypto.com exchange has been picking up some serious slack in an effort to win the favor of Americans. Of course, a whole grip of exchange plays have been trying to infiltrate the mainstream. Coinbase (NASDAQ:COIN) is the most well-known, due in large part to its status as the only exchange stock sold on Wall Street. Others have taken more creative means to increase exposure to the American audience.
Most notably, these exchanges are making their way to the mainstream audience through professional sports. FTX has its logo on the uniforms of MLB umpires, and it also owns the naming rights to the home arena of the NBA’s Miami Heat. Not to mention, the exchange also boasts NFL great Tom Brady as the face of its TV marketing campaign. Coinbase (NASDAQ:COIN) recently secured a partnership with the NBA as its exclusive league crypto sponsor. While not an exchange, blockchain platform Tezos (CCC:XTZ-USD) is now a partner of the MLB’s New York Mets.
Crypto.com Coin Holds One Last Major Catalyst in its Hand for 2021
It’s quite impressive that crypto exchanges have struck up these major partnerships, especially considering they were all born this year. But Crypto.com Coin might have all of these partnerships beat with its newest deal, which goes into effect on Christmas.
Earlier in the fall, Crypto.com made waves with its primetime television campaign; the commercials are notable for their new spokesperson, actor Matt Damon. But very shortly after that, the exchange made some news that was even larger — such large news that it even had people polarized.
News broke in mid-November that Crypto.com would become the face of a hollowed ground for basketball. The legendary Staples Center, home of the Lakers and Clippers, will become Crypto.com Arena. The name change will be the first ever for the arena, which has housed the NBA giants, as well as NHL and WNBA teams for the last two decades.
The news certainly caught the mainstream’s attention. Many were unfazed by the name change, but some were slow to adopt the change, given the Staples Center’s rich history. Crypto.com Coin, on the other hand, had no problems booming in popularity; the announcement preceded a 350% gain for CRO.
Those gains are expected to continue also, and soon. The name change will take effect on Christmas Day. And with the Lakers set to play the Brooklyn Nets on the same day, there will be a lot of eyes on the newly named arena, and CRO as well.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
