Even amid an ongoing downturn in cryptocurrency prices, the major crypto trading firms are continuing to lean on celebrity endorsements to coax people to sign on and invest.
The newest crypto ambassador? Tennis superstar Naomi Osaka, who is partnering with the crypto exchange FTX, and will wear its logo during her competitions, beginning with the Miami Open this week.
The latest celebrity partnership deal is also notable because of who Osaka and FTX are hoping to reach: young women. The crypto firm says that Osaka will produce content that “will focus on bringing women onto the platform and into the future of Web3.”
Until now, most crypto firms have leaned on celebrity ambassadors and advertising campaigns that appeal to men, or to a wide audience. FTX used Larry David in its Super Bowl ad, and previously signed Tom Brady and Gisele Bundchen as ambassadors, with Brady taking the lead in advertising, while Matt Damon led an ad for Crypto.com.
Osaka’s deal is one of the first efforts to specifically target women.
“We have seen the statistics about how few women are part of crypto by comparison, which kind of mirrors the inequality we see in other financial markets,” Osaka said in a statement. “Cryptocurrencies started with the goal of being accessible to everyone and breaking down barriers to entry. I’m excited to partner with FTX to get back to that mission and to innovate on new ways to reach more people and further democratize the space.”
Osaka will receive an equity stake in FTX as part of the long-term deal and will also be receiving some additional compensation in crypto. FTX says it will also donate to her charitable organization, Play Academy.
