Introduction
The FIFA World Cup is the second-largest sporting event attended by at least three or more countries from each continent. These sporting events provide the opportunity for players, football fans, businessmen, etc to come together, interact with each other, and exchange ideas and get entertained by the players performance during the matches. The number of people who come to watch each match during the tournament is usually overwhelming. Those who couldn’t visit the venue for each match, usually follow up by watching their television at home. This increases the total number of spectators during this event to roughly 4 billion and more.
A lot of companies and other business establishment usually utilize this opportunity to advertise their products and services to the large spectators by displaying them at strategic locations within the football pitch. Others advertise them on television intermittently while the matches are going on.
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The crypto industry has also utilized this important opportunity to drive crypto adoption across the globe. This work will therefore help you learn more about the anticipated effects of the forthcoming FIFA World Cup in 2022 the global cryptocurrency adoption.
What is Cryptocurrency?
Cryptocurrencies are digitalized means of wealth storage through assets that have monetary value and are accepted as a means of payment when offered to the community that deals in crypto.
What impact will the FIFA World Cup have on Global Crypto Adoption?
The forthcoming FIFA World Cup in 2022 is an important global event that provides an excellent opportunity for driving global crypto adoption to the next level. This world event which attracts billions of spectators provides an excellent platform for advertising crypto investments to investors and all sports lovers. This will help to attract more people, especially sports lovers into cryptocurrency investments especially when they see their favorite players vouching for various crypto projects.
Many crypto projects today have utilized the opportunity to advertise their tokens by giving support to the forthcoming FIFA World in November 2022. For instance, the Algorand team has emerged as the official blockchain sponsor for the forthcoming FIFA World Cup. This will probably increase the awareness of the Algorand tokens.
In like manner, many cryptocurrency exchanges have been are at the forefront of sponsoring this event which will allow them to display their ads at the playground during the FIFA World Cup.
Binance crypto exchange had been one of the remarkable crypto exchanges that had been at the forefront of providing support for the forthcoming FIFA World Cup. The exchange had recently signed a partnership contract with the world-renowned player Christiano Ronaldo whose football pictures are now displayed on the exchange platform ahead of the tournament.
Other crypto exchanges have followed suit. Crypto.com had indicated earlier as one of the main sponsor of this event. The exchange had been very remarkable in promoting cryptocurrency adoption using sports activities.
More so, a lot of NFT projects have been created relating to the forthcoming FIFA World Cup which will allow spectators to support the event and their favorite player using the NFT tokens.
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Visa for instance, had auctioned five NFTs featuring interesting goals from different countries’ key players during the past FIFA World Cup. This will allow fans to support their country by buying the Non-Fungible Tokens. Most of these NFTs will be created on the Ethereum blockchain and will push more people to buy Ethereum too.
More so, the various crypto exchanges have also provided the opportunity for fans to create their own NFTs of their engagements during the FIFA World Cup which will be sold at the different crypto exchanges. This will further drive crypto adoption among fans.