So much misinformed opinion here to unpack, but I'll try. I can't change your first view, so not going to bother going down that rabbit hole.I'm not the world's biggest fan of crypto (I think its realistic use cases are fewer than advertised) but I wouldn't say I'm a hater either. I try and keep an open mind.
However when it comes to Crypto.com there are two concerns for me:
1. They've just been hacked. Like literally in the last few days. Announcing a sponsorship around this time will see us associated with a service that is perceived as dodgy, unreliable or low quality
2. They make money via transactions like any crypto exchange, however that money will only come in if people are willing to participate in the crypto market. Are they sponsoring a whole bunch of stuff now because they have just made bank over the crypto boom in the last year? What are their plans for a period of cooling and reduced crypto trading? This is why I'd want a full upfront payment in cash. Will they pull out of sports sponsorships as soon as the market turns red?
Then for other crypto businesses the amount of absolute garbage scam-level horse sh*t is insane, there are so many illegitimate and dodgy services that I hope we do our homework. And stay out of NFTs which have no functional purpose whatsoever
Crypto.com is not perceived as dodgy, unreliable or low quality. This hack (approx 15M) is like dropping 20 dollar note on the ground for a regular joe, barely a blip and didn't impact any actual users (any affected users were reimbursed within 24 hours). It's like someone performing a bank heist and leaving with a coin purse from a little old lady.
Reduced crypto trading in a red market? Boom only in the last year?
Yes, no scams exist in TradFi, none at all... brb, just sending my next payment to a nice Nigerian prince, before giving a call back to the nice tax lady that said I could be arrested if I don't pay them immediately. It's like saying that a sporting organisation shouldn't accept a sponsorship from a physio company as they could be secretly running a dodgy massage parlour in a back alley in Thailand.
NFTs are not just JPEG images of monkeys, its a technology that is being used to help develop the Play to Earn concept in gaming and the metaverse. Maybe you missed Microsoft and Meta starting to make significant plays into the metaverse/gaming areas? I know the art world are loving NFTs, as it will help them to digitalise their art and have complete ownership over it, even if someone does a copy paste of it (every NFT has a unique digital signature). I suggest reading this basic guide on NFTs to help.