How The ‘Crypto Winter’ Could Impact The Future Of Crypto-Based Entertainment Sports Sponsorships
— Future, Entertainment, Trading, Getty, Sponsorship, Crypto, Sponsorships, Winter, Cryptobased, Companies — 1 min read
Cryptocurrency companies had made deals worth billions of dollars in the last three years, all before the crypto crash in January of 2022. The question on the minds of many crypto analysts and sports enthusiasts is, are these sponsorship deals now at risk? Many crypto companies are pulling out of sponsorship deals as the market bites harder. The number of active crypto users at the Bank of America BAC has shrunk by 50%, as crypto prices have cratered with bitcoin tumbling over 60% this year. According to Pew Research, about 43% of Americans and 19% of American Women aged 18-29 have either traded or used cryptocurrency at some point. Still, how long can they remain committed in a persistent bear market and, more importantly, in a highly volatile industry? Source