Crypto.com Partners With Los Angeles Women's Soccer Team

Cryptocurrency exchange and financial platform Crypto.com CRO/USD has become the official crypto partner of women’s soccer team Angel City Football Club (ACFC). The club is set to become a National Women's Soccer League expansion team that is expected to begin play in 2022. 

What Happened: This deal is purportedly the first direct sponsorship of a professional women’s sports team by a major cryptocurrency platform, according to an announcement shared with Benzinga on Tuesday.

As part of the collaboration, Crypto.com will support financial education through dedicated crypto content for both players and fans, looking to further the adoption of cryptocurrency and awareness of web 3.0 developments. The sports club and financial services firm will also jointly issue non-fungible tokens meant to connect the team's fans with the players.

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Crypto.com co-founder Kris Marszalek said the partnership will substantially help in the effort to provide financial education to the masses.

Alexis Ohanian, the co-founder and executive chairman of the social media site Reddit and the club’s leading investor, shared his excitement over the partnership, saying it will help "educate more women (and people in general) about what this technology is capable of" in a recent tweet.

The report follows the announcement that the Staples Center in downtown Los Angeles will be renamed on Christmas Day to Crypto.com Arena in one of the biggest naming rights deals in sports history.

Crypto is becoming increasingly present in the sports landscape, with Bitcoin BTC/USD being recently tied to a professional soccer team. As Benzinga reported, Bitcoin advocate, investor and podcaster Peter McCormack bought U.K. soccer club Bedford FC to make it a football team with "Bitcoin at its heart."

Related Link: Golden State Warriors And FTX Sign Crypto And NFT Partnership: What Investors Should Know