Have you also heard about the motorcycle and the bike we sponsor in Latin America? I don't remember how much is the sponsorship for them... At least the cyclist was doing well in some competitions, I read at some point.
But overall, I agree with some of the other points made in the comments... General marketing is better suited when you are already an established and known company/platform and you want to keep reminding your potential customers you exist, or when you have lots of money to spend on marketing, like Crypto.com has.