OKX Aims for Long-Term Partnerships in Sports Advertising
Crypto company OKX, known for its partnerships with Formula 1 team McLaren and UEFA Champions League winners Manchester City, is looking to establish lasting relationships in the world of sports advertising. Unlike other crypto outfits that have had short-lived associations with sports organizations, OKX aims for a decade-long deal with McLaren. The collapse of FTX, a crypto exchange that had sponsorships with Mercedes-AMG Petronas and the Miami Heat, serves as a cautionary tale for the crypto sector’s fleeting connections.
Sticking with McLaren
In contrast, OKX has remained committed to its partners. The company recently unveiled a new version of the McLaren car in Singapore, showcasing its logo. OKX invests approximately $25-50 million annually in advertising, a significant portion of which goes to McLaren and Manchester City. The company sets aside money specifically for these partnerships, ensuring timely payments are made each year. OKX believes that long-term deals create a generational impact and build brand equity.
Hot Take: Establishing Trust and Longevity in Crypto Sponsorships
OKX’s approach to forming long-term partnerships in sports advertising sets it apart from other crypto companies that have experienced brief associations. By prioritizing trust and commitment, OKX aims to create lasting brand recognition through its collaborations with McLaren and Manchester City. This strategy not only benefits the crypto company but also strengthens the credibility of the crypto sector as a whole. OKX’s dedication to maintaining stable relationships serves as an example for future crypto sponsorships, highlighting the importance of building equity and establishing generational impact.
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