LeBron James Joins Crypto.com: In Its $1 Billion Bid To Become As Big As Instagram

https://twitter.com/cryptocom/status/1487047811401076742

Basketball star LeBron James is the latest celebrity to team up with cryptocurrency exchange Crypto.com on its splashy marketing blitz that already includes actor Matt Damon and naming rights for a Los Angeles sports arena. On Friday, Crypto.com and James’s nonprofit, the LeBron James Family Foundation (LJF), announced a multiyear partnership to support Web3-related “educational and workforce development opportunities” that help students and families build a “strong foundation in Web3 and…blockchain-based decentralized applications.” Web3—or Web 3.0—refers to what some envision to be a fairer and more equitable internet. Supporters pitch it as decentralized, thereby giving users more control.


Crypto.com’s partnership with James continues its major marketing offensive of recent months, which has roped in Hollywood stars and cost the firm more than $1 billion. In November, the Singapore and Hong Kong–headquartered exchange inked a $700 million deal to emblazon its name on the former Staples Center—home to the NBA’s Los Angeles Lakers (James’s team) and Clippers. With the arena naming rights deal, the company receives a portion of audience transactions at the venue—more if the transactions are made through Crypto.com’s app. In October, Crypto.com premiered TV commercials starring Damon, an investor in the company who’s become the face of the brand. The company spent $100 million to produce the Damon-led series of ads, which will also feature NBA star Carmelo Anthony, mixed martial artist Ronda Rousey, and South Korean rapper Lee Chae-rin, aka CL. Crypto.com had no comment on whether James, under the new partnership, would appear in a commercial. The company has also poured another $400 million into various sports endorsement deals, according to Bloomberg, including with the Ultimate Fighting Championship (UFC), motor racing championship Formula 1, and elite ice hockey, football, and soccer clubs.


Basketball star LeBron James is the latest celebrity to group with cryptocurrency exchange Crypto.com on its splashy promoting blitz that already includes actor Matt damon and naming rights for a la sports arena. On Friday, Crypto.com and James’s nonprofit, the LeBron James Family Foundation (LJF), declared a multiyear partnership to support web3-related “educational and workforce development opportunities” that facilitate students and families build a “strong foundation in Web3 and…blockchain-based decentralized applications.” Web3—or Web 3.0—refers to what some envision to be a fairer and more equitable internet. Supporters pitch it as decentralized, thereby giving users more control. Crypto.com’s partnership with James continues its major promoting offensive of recent months, that has roped in Hollywood stars and value the firm over $1 billion. In November, the Singapore and Hong Kong–headquartered exchange inked a $700 million deal to emblazon its name on the previous Staples Center—home to the NBA’s la Lakers (James’s team) and Clippers. With the theater naming rights deal, the company receives some of audience transactions at the venue—more if the transactions are created through Crypto.com’s app.


In October, Crypto.com premiered TV commercials leading Damon, an capitalist within the company who’s become the face of the brand. the company spent $100 million to supply the Damon-led series of ads, which can additionally feature NBA star Carmelo Anthony, mixed martial artist Ronda Rousey, and South Korean rapper Lee Chae-rin, aka CL. Crypto.com had no comment on whether or not James, under the new partnership, would appear in a commercial. the company has also poured another $400 million into numerous sports endorsement deals, according to Bloomberg, together with with the ultimate Fighting Championship (UFC), motor racing championship Formula 1, and elite ice hockey, football, and football clubs.



11 views0 comments