FTX partners with Naomi Osaka in an effort to attract more women to crypto

Crypto platform FTX is partnering with Naomi Osaka in a bid to draw more women into the cryptocurrency space.

“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,” the tennis star said in a statement announcing the partnership. “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.” 

Although interest in the crypto economy has grown and more brands have entered the metaverse, the industry is still predominantly male. A November report from the Pew Research Center found that 43% of men ages 18 to 29 said they had invested in, traded or used a cryptocurrency, compared to just 19% of women in the same demographic. 

As part of the partnership, Osaka, a four-time Grand Slam singles champion, will become an FTX ambassador, receive an undisclosed equity stake in the company and crypto compensation. She will also have the FTX logo on her outfits for the Miami Open and be part of digital ads and social content. FTX will also make a charitable donation to Play Academy, Osaka’s charity organization.

Osaka joins a roster of ambassadors that includes NBA star Stephen Curry, NFL quarterback Trevor Lawrence, baseball great David Ortiz, and football legend Tom Brady, along with his wife, supermodel Gisele Bündchen. FTX has shown up in sports in other ways, as well. This past Super Bowl, comedian Larry David starred in the platform's first Big Game commercial. In June, the Miami Heat's American Airlines Arena became FTX Arena, while MLB umpires wore the brand's logo last season.

Associating with athletes is a way to build credibility, trust and engage new customers.

“Just as FTX is at the forefront of crypto markets, we want to be at the forefront of social change,” Sam Bankman-Fried, CEO of FTX, said in a statement. “Our partnership with Naomi Osaka will further our goal of getting more diverse voices involved in the future of digital currency and Web3.”