Blockchain.com announced Wednesday the close of a sponsorship deal with the Dallas Cowboys as part of a broader marketing push to expand its retail user base in the US.
The deal comes as companies across the crypto industry ramp up their marketing spending, particularly in the area of sports. Major sporting franchises, too, have eyed crypto as a way to expand fan outreach. Recent deals include ByBit's 3-year, $150 million deal with Red Bull Racing and Crypto.com's $175 million, 10-year deal with the UFC.
Elsewhere, the crypto-sporting intersection was fully on display during the recent Super Bowl championship, as The Block previously reported.
Blockchain.com's partnership with the Dallas Cowboys, announced by general manager Jerry Jones and the exchange's CEO Peter Smith, includes a range of advertising and event initiatives, including the ability for Blockchain.com users to access Cowboy-related content via its retail mobile app.
In an interview with The Block, Smith said that the firm's conversations with the Cowboys started last year as the company was exploring the benefits of sports marketing.
"The Cowboys are the biggest sports team in America if you look at the data," Smith said. Data from Statista showed that the Dallas Cowboys boasted more than 8 million fans on Facebook as of early March.
"They have more fans than crypto companies have users," Smith told The Block. "For us, it is a consumer-first partnership. But Texas is obviously a big home for bitcoin mining, so we will be doing some institutional stuff. "
The firm plans to invest more resources into its marketing efforts in the next year. Historically, Blockchain.com has spent effectively "zero" on marketing, according to Smith. He estimated that the firm could spend around $50 to $70 million this year.
"You won't be able to escape crypto and Blockchain.com, even on Sundays," said Smith.