Celebrity Endorsement Strategies for All B2B Web3 Brands: ROI, Case Studies, and Tactical Analysis

In the fiercely competitive landscape of cryptocurrency wallets and exchanges, gaining user trust and increasing brand exposure have become core objectives for platforms. Against this backdrop, more and more crypto companies are turning to celebrity endorsements, leveraging star power to build credibility and rapidly expand their markets. Looking back at the crypto market’s peak in 2021–2022, “hiring celebrities” became almost an industry standard: Hollywood star Matt Damon filmed a commercial for Crypto.com (proclaiming “fortune favors the brave”), socialite Paris Hilton spun tracks on a metaverse platform, and even reality TV star Kim Kardashian promoted tokens on Instagram. During the same period, the sports industry was heavily penetrated by crypto sponsorships. For instance, FTX spent $135 million to rename the NBA’s Miami Heat arena as the FTX Arena and secured a five-year deal with Major League Baseball (MLB) to feature the FTX logo on umpire uniforms.

According to GlobalData, FTX invested nearly $100 million in sports sponsorships in 2021, with Crypto.com and fan token platform Socios spending even more. Numerous exchanges raced to partner with top-tier celebrities and sports franchises: NBA star Stephen Curry and NFL legend Tom Brady, along with his then-wife, served as FTX brand ambassadors in 2021, frequently appearing in ads and events; Binance signed football icon Cristiano Ronaldo as its ambassador in 2022. It’s fair to say that celebrity endorsements and sponsorships played a pivotal role in transitioning the crypto industry from niche to mainstream, bringing invaluable traffic and attention to platforms.

However, these “big bets” also came with lessons. After the collapse of platforms like FTX, celebrities who endorsed them faced legal disputes, and regulators began scrutinizing the risks of celebrity-backed crypto promotions. Despite this, celebrity endorsements remain a cornerstone of marketing strategies: they not only boost brand visibility in the short term but also enhance user trust in platforms. For teams considering B2B brand promotion partnerships, understanding how to effectively leverage celebrity endorsements and integrate them with other marketing approaches is critical.

Notable Examples of Celebrity Endorsements in the Industry

The crypto industry has seen several high-profile celebrity endorsements and sports sponsorships in recent years. Below are some representative cases and the endorsement formats used:

Binance and Cristiano Ronaldo

The world’s largest exchange, Binance, announced in June 2022 that it had signed football superstar Cristiano Ronaldo as its brand ambassador, with a highlight being the launch of an exclusive NFT collection series. The multi-year exclusive partnership resulted in the first “CR7” NFT series during the Qatar World Cup, with prices ranging from $77 to $10,000. In June 2023, Binance released the “ForeverCR7: The GOAT” NFT series, priced between $10 and $15,000, with rare NFT holders even gaining the chance to meet Ronaldo in person. Binance produced TV commercials and social media content featuring Ronaldo, who appeared in branded “Binance” attire, boldly claiming to “change the crypto game.”

This deeply integrated endorsement allowed Binance to tap into Ronaldo’s global fame, reaching mainstream sports audiences. Reports indicate that the announcement of the Ronaldo NFT led to a 500% surge in online searches for “Binance,” demonstrating its massive attention boost. Additionally, Binance’s NFT series sold out over 90% within two days of launch. Through Ronaldo’s endorsement, Binance not only reinforced brand trust but also attracted significant attention from non-crypto fans, solidifying its global presence.

OKX and Manchester City

OKX (formerly OKEx) opted for a sports sponsorship route by partnering with Premier League giants Manchester City. Starting in 2022, OKX became the club’s official cryptocurrency exchange partner, later upgrading to the training kit front sponsor and, in 2023, the sleeve sponsor for both the men’s and women’s first teams. OKX’s branding appeared on Manchester City jerseys, stadium LED boards, and global marketing campaigns. Beyond traditional ad exposure, the partnership included rich online and offline fan engagement: OKX collaborated with Manchester City players to launch NFT collections, metaverse virtual experiences (e.g., showcasing the Premier League trophy in the metaverse), and AR/AI-powered digital treasure hunts for fans.

Additionally, OKX introduced “The OKX Collective,” a platform enabling fans to engage in Web3 experiences curated by Manchester City players, such as virtual interactions or exclusive digital collectibles. This innovative approach aligned OKX’s brand with Manchester City’s “innovation and excellence” ethos, fostering positive perceptions among fans. Independent surveys show that post-partnership, OKX’s “trusted brand” perception increased by 76%, its “market leader” recognition rose by 90%, and 33% of fans expressed greater likelihood to use OKX’s wallet or trading platform. These metrics highlight how partnering with a top-tier football IP significantly boosted OKX’s brand reputation and user intent. With Manchester City’s global fanbase of over 100 million, OKX gained extensive international exposure, greatly supporting its globalization strategy. Notably, OKX invests approximately $25–50 million annually in sponsoring Manchester City and McLaren Racing, reflecting its long-term commitment to sports marketing. View our celebrity endorsement list.

Bitget and Lionel Messi

Emerging exchange Bitget announced in October 2022 that it had signed football legend Lionel Messi as its brand ambassador to boost its influence, particularly in Latin America. As a seven-time Ballon d’Or winner, Messi commands a massive fanbase, especially in Spanish-speaking markets. The partnership included Messi starring in Bitget’s TV commercials and social media campaigns (with Bitget content also appearing on Messi’s personal social media), themed trading events, and offline fan meet-and-greets. Bitget launched football-themed marketing campaigns in Latin America, such as “Football Fan Meetups” in Argentina, to engage local users. The Messi endorsement delivered remarkable results: within 18 months, Bitget’s global user base surged from 20 million to over 120 million, a 500% increase.

Bitget’s leadership attributed this growth to high-visibility initiatives, including the Messi endorsement. Fans idolizing Messi began trusting and engaging with Bitget, converting into new users. In regions like Argentina, Bitget leveraged football to integrate into local communities, expanding crypto trading from niche circles to mainstream audiences. Through Messi’s legendary status, Bitget successfully broke into emerging markets, establishing a foothold in the competitive Latin American region.

Bybit and Oracle Red Bull Racing

Derivatives trading platform Bybit partnered with F1 world champion team Oracle Red Bull Racing. In 2022, Bybit signed a three-year deal as the team’s “Principal Team Partner,” with its logo appearing on Red Bull’s F1 cars, driver apparel, and official promotions. The partnership included race event sponsorships for global brand exposure via F1 broadcasts, as well as Web3 collaborations like team-themed NFTs, fan tokens, and online community events.

This deal was unprecedented in scale, valued at $150 million, reportedly the largest single-year crypto sponsorship in international sports at the time. Red Bull’s back-to-back driver championships from 2022–2024 meant Bybit’s branding frequently appeared on podiums. With F1’s global viewership — 1.54 billion cumulative TV viewers in 2022 alone, averaging 70 million per race — Bybit achieved unparalleled exposure. Bybit executives noted, “The partnership with Red Bull Racing has significantly elevated Bybit’s global recognition, aligning us with world champions and shared values of excellence and innovation.” This reflects the spillover effect of top-tier sports endorsements: beyond ad exposure, the brand associates with a championship ethos, enhancing perceptions of professionalism and reliability. Through F1’s prestigious platform, Bybit reached vast potential users, deepening its global brand imprint.

These cases span individual celebrity endorsements to team sponsorships. Common formats in crypto include TV commercials, social media co-marketing (celebrities endorsing platforms on their channels), offline fan events (meet-and-greets, signings), co-branded NFTs or digital collectibles, and event or team sponsorships. These diverse approaches aim to maximize celebrity influence, driving brand buzz and user conversion. Below, we analyze the measurable impact of celebrity endorsements and compare them with other marketing methods.

Celebrity Endorsement Impact Data: User Growth and Brand Metrics

Celebrity endorsements involve significant investment, and the industry closely tracks their ROI (return on investment). Fortunately, recent cases provide quantifiable results. Binance’s partnership with Ronaldo led to a 500% surge in “Binance” search volume, with 90% of the initial NFT series sold within two days. OKX’s Manchester City sponsorship increased its “trusted brand” perception by 76%, “market leader” recognition by 90%, and saw 33% of fans more likely to use OKX’s platform. Bitget’s Messi endorsement drove a 500% user growth from 20 million to 120 million, with significant new user gains in Latin America. Bybit’s Red Bull F1 partnership reached 1.54 billion cumulative F1 viewers, with a $150 million deal boosting global brand exposure.

These metrics confirm that top-tier celebrity or team endorseements often lead to spikes in user registrations and brand recognition. The data highlights tangible user growth and attention, with endorsements delivering reach and buzz that other channels struggle to match. Of course, ROI varies by endorsement type and cost, but overall, celebrity endorsements offer a high ROI, achieving broad reach and impact. Next, we explore how different endorsement types vary in impact and their unique advantages over other marketing methods.

Comparative Advantages of Celebrity Endorsements vs. Other Marketing Methods

Celebrity endorsements are just one tool in the brand marketing arsenal. How do they compare to KOL (Key Opinion Leader) marketing or content PR? Below is a comparative analysis:View our global KOL list for free.

1. Reach Breadth vs. Targeted Reach

Celebrity endorsements leverage stars’ mass appeal to reach tens of millions of potential users in a short time, amplified by global media and top-tier sports events. In contrast, KOL marketing targets niche crypto influencers with follower bases in the tens of thousands to millions, while content PR (e.g., in-depth reports, whitepapers) reaches only engaged industry audiences. When the goal is maximizing buzz and acquiring new traffic, celebrity endorsements’ broad reach is unmatched.

2. Trust Endorsement vs. Professional Credibility

Building trust is a key marketing goal. Celebrity endorsements provide emotional trust through star power — fans trust their idols, lowering skepticism toward endorsed brands (e.g., fans trying a platform recommended by their favorite athlete). KOLs, often crypto insiders, offer professional credibility but lack the same “authority” for mainstream audiences, who may remain cautious about commercial recommendations. Content PR builds rational trust through expertise but takes longer to resonate. Celebrity endorsements excel at fostering emotional trust, quickly shaping positive brand perceptions.

3. Buzz and Media Attention

Celebrity endorsements generate buzz, often earning mainstream and social media coverage, creating secondary exposure. A major signing (e.g., Binance with Ronaldo, Bitget with Messi) frequently dominates headlines in finance and sports. KOL marketing stays within niche communities, rarely attracting broad media, while content PR needs major events to gain traction. Celebrities excel at creating viral moments, amplifying brand exposure.

4. Conversion Pathway Length

Shorter conversion paths retain more users. Celebrity endorsements deliver simple, compelling messages via ads or slogans, lowering barriers to action (e.g., scanning a QR code to sign up). Content PR often involves lengthy articles, appealing only to highly interested users, while KOL promotions can feel superficial compared to a celebrity’s commanding presence. Celebrities drive faster user acquisition.

However, celebrity endorsements’ advantages come at a high cost. They don’t fully replace KOLs or content marketing but serve as a flagship strategy: celebrities break through awareness barriers, while KOLs and content solidify education and retention. The three complement each other, forming a complete marketing loop. In crypto, celebrity endorsements uniquely bridge niche and mainstream audiences, attracting fresh users and expanding the industry’s reach. View our global KOL list for free.

Practical Strategies for Integrating Celebrity Endorsements in B2B Brand Projects

For teams planning B2B brand promotion partnerships, how can celebrity endorsements be integrated for optimal impact? Below are recommendations across budget, KPIs, and collaboration timelines:

Budget Allocation

Celebrity endorsement costs vary widely based on fame and partnership depth. Top global stars require budgets of millions to tens of millions of dollars (e.g., Bybit’s $150M Red Bull F1 deal), plus execution costs for ads and events. Regional or niche celebrities may cost hundreds of thousands to a few million. Allocate 30–40% of the total marketing budget to endorsements to balance other channels. Startups can opt for short-term or event-specific deals to minimize costs, while established platforms can secure multi-year contracts. Using tokens or equity as partial compensation is common but requires compliance caution.

KPI Setting

Define clear key performance indicators before launching. Common KPIs include new user registrations, trading volume growth, brand awareness (via third-party surveys or Google Trends), and social media metrics (follower growth, engagement, topic reach). For example, set goals like “X new users in the first month, Y% increase over baseline” or “Z% brand recognition boost in target markets.” KPIs should be quantifiable, realistic, and tied to the endorsement type and market, with tracking tools like UTM parameters or channel-specific analytics in place. Benchmark against similar campaigns to set achievable yet ambitious targets.

Collaboration Timeline and Rhythm

Endorsement impact builds over time. A minimum six-month to one-year partnership allows the celebrity’s image to integrate with the brand. Short-term ad bursts may drive fleeting traffic but lack lasting value. Aim for a one-year minimum, with multi-year deals for deeper impact (budget and availability permitting). Plan phased activities: a launch event or TVC for initial buzz, mid-term holiday or event-tied interactions to sustain engagement, and data-driven follow-up campaigns. Align celebrity appearances with key moments like product launches or anniversaries. Treat endorsements as ongoing projects, not one-off ad buys.

Integrated Marketing Coordination

Celebrity endorsements should synergize with other channels. Develop an integrated communication plan for consistent messaging, amplifying celebrity content across platforms. For example, create dedicated endorsement sections on websites or apps, use social media hashtags for user engagement, leverage KOLs to explain the endorsement’s strategic value, and pitch PR stories to elevate the partnership in mainstream media. At offline events or summits, feature celebrities via video or in-person appearances to boost visibility. This 360-degree approach ensures endorsements permeate key touchpoints — ads, news, and social media — deeply embedding the celebrity-brand connection in users’ minds.

Conclusion

In summary, celebrity endorsements are a powerful tool for B2B crypto brand promotion, offering a competitive edge in a crowded market. Cases like Binance with Ronaldo, OKX with Manchester City, Bitget with Messi, and Bybit with Red Bull F1 demonstrate significant boosts in brand awareness, trust, and user growth. The strength of celebrity endorsements lies in their social proof: trusted public figures make users more receptive to new platforms, bridging the trust gap in the nascent crypto industry. By leveraging global star power, brands can rapidly expand to international markets, with logos appearing in high-profile events like the World Cup or F1, reaching millions of potential users.

Moreover, endorsements drive measurable business growth (registrations, trading volume) and secondary benefits like attracting partners and investor confidence, aiding B2B expansion. However, success hinges on robust products and complementary marketing operations. In a competitive landscape, teams leveraging celebrity endorsements effectively gain faster, broader user and market recognition. As the crypto industry rebuilds trust post-downturn, celebrity endorsements remain a potent tool for capturing user mindshare. Practitioners should approach these partnerships strategically, aligning them with broader marketing goals to achieve a 1+1>2 impact. Looking ahead, crypto brand competition will extend beyond technology and products to encompass cultural influence and trust, with celebrity endorsements playing a pivotal role.

FAQs

Q1: How to choose the right celebrity?
A: Prioritize stars whose persona aligns with the brand, are well-known in the target market, fit the budget, and have no major controversies. Choose global icons for international expansion and regional figures for local penetration.

Q2: Are celebrity endorsements really effective?
A: When executed well, they significantly boost brand awareness and user growth. Binance, Bitget, and others saw measurable increases in registrations and search volume.

Q3: How to measure effectiveness?
A: Track KPIs like registrations, trading volume, brand mentions, search trends, and social engagement. Monitor short-term acquisition and long-term brand retention.

Resources You May Need:
Website: https://chainpeak.pro/
Official Twitter: https://twitter.com/chainpeak
Global AscGlobal KOL Resource Group: https://t.me/globalcryptokol
Global Moderator Resource Group: https://t.me/web3modglobal