Fortune favors the brand: Why crypto marketing fails to live up to hype
cointelegraph.comAs we appear to be entering a new phase in crypto’s notorious market cycles, excitement is once again growing at the prospect of rising investment and deeper liquidity.
However, in order for the market to come back stronger, lessons must be learned from what happened before. The collapses of 2022 continue to be analyzed by TV stations, newspapers, magazines, blogs and social media.
But among the extensive analyses, one key lesson has been missed. As is good practice in growing businesses, FTX spent 15% of its revenue on marketing and advertising, which included a cool $375 million on multi-year sport sponsoring contracts, including several stadium and co-branding naming rights.
This kind of investment isn’t unheard of, but it’s more typical of brands that target mass markets and global populations, such as beverages, financial services or automotive brands.
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