Did crypto.com's World Cup sponsorship really work?

The short answer? No.

Crypto saw a massive boom several months ago. The new, trendy crypto startups bought rights to stadiums, and Super Bowl ads, and even became sponsors for drone racing leagues. Crypto companies have now spent a total of $2.4 billion on sports sponsorships. But now, when the digital currency market is in shambles, for many of the bankrupt companies in the space, having their name adorned on a uniform and the court is irrelevant. But one company isn’t getting the memo - it’s crypto.com.

Source: Business Insider

The Metrics

Let’s take a look at the searches of the name crypto.com, using Google Trends since their name is plastered on the advertising boards on the sidelines.

This is the 12-month search volume worldwide for the query ‘crypto.com.’ Chances are, you think this was a great marketing move. Sure, they nearly doubled the volume of searches within a few days because of this, but let’s zoom out.

Well, that changed quickly. That 150% gain looks like a mere pop overall. Wait, because it gets even worse.

You can see the search volume per country in the past 12 months. (By the way, 100 does not mean 100 searches in 12 months, it signifies the importance of searches concerning its peak. For example, Singapore is at 100, meaning that the volume of searches in that country is at an all-time high.) With this table, you realize that not only are the ads capturing the interest of the internet globally (with sarcasm) the countries that they have gotten the attention of are relatively small, with little to no crypto users that reside there, and almost no infrastructure and innovation in the sector there. This is a marketing scheme gone wrong. But why should this have been expected?

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People Only Like Crypto When Its Doing Well

Going back to the charts, this theory makes sense.

Now its clearly visible how the search volume worldwide is correlated to Bitcoin’s price. So why wouldn’t comparing it to Shiba Inu’s price work? It is because Bitcoin is the benchmark for the industry. People are being bombarded by crypto.com ads at the World Cup, but it barely works. When crypto is down, no one cares, and this is why ads at times in the market like this don’t work. What the average investor needs is education, not ads, and the industry doesn’t get that. But also, the people that will invest in crypto have already jumped aboard. The industry is in shambles, and it will stay that way for a long time. The truth is, crypto ads don’t help the company.