Crypto, Cricket and Crores! Regulation may be awaited but advertising is on in full form. The Indian cryptocurrency exchanges dolled out Rs 50 crore during the ICC T20 World Cup in ad spends as per a report on ET.
The business daily reveals that CoinDCX advertised seven times per match on every channel during the tournament, spending a total of Rs 40 crore on sponsorship on Star Sports. CoinSwitch Kuber focused their spends on Star's video-streaming service, Disney+Hotstar, during the World Cup. The ad spend by other exchanges such as WazirX is ₹4-6 crore.
In the first 42 matches the cryptocurrency exchange had a 4% share of overall ad volume during the tournament.