Following the departure of the team formerly known as the San Diego Chargers to the apparently greener pastures of Los Angeles, I’ve only occasionally checked the scoreboard to see how their season fared. But frankly, my interest in football was starting to wane before then. That’s perfectly fine for the project undergirding Crypto.com Coin (CCC:CRO-USD), which primarily focuses on other sports. The on a CRD-USD basis, the coin has depreciated 16% so far in 2022.
Still, the current NFL season could have been personally interesting for me. Throughout the regular season, I watched a total of, maybe, two or three minutes of NFL coverage — all highlights. In terms of live TV coverage, that figure drops to zero. I know that that puts me among the outliers.
However, I could have been tempted to watch a playoff game featuring the Chargers — had they made it, of course.
Currently, sports media is buzzing about a unique situation that materialized for the final regular-season game between the Chargers and the Las Vegas Raiders. A tie would have sealed a playoff spot for both teams, thus setting into motion the possibility of a farcical matchup. Instead, credit goes to both teams for playing for the win.
However, that also left the Chargers packing. I guess the curse remains, whether they’re in Los Angeles or San Diego.
Still, fans were hoping for a tie as it would create intriguing drama. Instead, the only drama the league is producing is the divisively perceived political kind. That’s bad for the NFL but possibly good for Crypto.com Coin.
As you know, the NFL since last year has taken a strong stance on social justice and equity. It has become more political or ideological than ever. But in its well-intentioned initiatives, the NFL has angered many fans to the point of financial pain. However, Crypto.com Coin is indirectly enjoying the opposite circumstance.
Crypto.com Coin Gunning for the Lead
As I’ve mentioned several times before, the folks behind Crypto.com Coin struck a sponsorship agreement with Formula One, the premiere international auto racing series. Worth over $100 million, the deal is for five years, starting from the recently concluded 2021 season.
Aside from lucrative global coverage, Crypto.com Coin taps into a burgeoning sector. And the manner in which the chips have fallen suggest either incredible luck for the CRO team or some elements of directed genius. Either way, the facts are compelling.
While the NFL generally sheds viewership (though to be fair, viewership is up this year), F1 racing is decidedly on the upward trek. Multiple reports indicated that the North American market for F1 increased dramatically, percentage wise. Further, the series saw 99% growth in social media engagements, turning the lemon of the coronavirus pandemic into lemonade.
It all culminated in a dramatic final race, last lap showdown that’s been talked about repeatedly — pure gravy for Crypto.com Coin.
On the other side of pit lane, you have mainstream sports leagues that will constantly balance their attempts to be on the right side of history with maintaining viable financial growth for their products. However, as Jay Busbee of Yahoo Sports noted, a conspicuously large number of Americans indicated that they are watching less sports because of political and social messaging.
To be clear, F1’s organizers do actively promote inclusivity messages. However, it’s nowhere near as overt as other sports. Plus, individual drivers can express their support for F1’s “We Race As One” initiative in a manner they see fit.
Thus, many drivers chose to stand rather than follow Lewis Hamilton’s lead in kneeling in solidarity for justice. At least a few fans will appreciate F1 not coercing a particular talking point.
Great Product, Great Deal
Finally, the one thing virtually all NFL fans can agree on is that this former nonprofit organization appears to have only gotten greedier over the years. And that goes not just for the league but the team owners as well.
I’m not going to propose the absurd and suggest that F1 is a charitable organization. However, aside from the ridiculously priced merchandise ($60 for a hat, $80 for T-shirt!?), the streaming option is enticing. For about $80, you get complete coverage of F1 — and lower feeder series — for the season, which extends from March to November.
Still, that’s not to say you should go out and buy Crypto.com Coin right now. Virtual currencies are incredibly volatile at the moment, possibly implying more pain ahead. CRO-USD price predictions for Jan. 31 on CoinMarketCap.com show a median upside of 24.4%, as of this morning, with some 4,891 votes collected.
However, if you’re looking for a viable discount following the cryptocurrency winter, CRO seems a smart wager (with money you can afford to lose, of course).
On the date of publication, Josh Enomoto held a LONG position in CRO. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
