Coinone Offers Up to $720 in Bitcoin at Waterbomb as Exchange Courts Mainstream Users

Coinone joins Waterbomb as title sponsor

Experiential events expand its reach with the public

Digital-asset firms push deeper into sports and festivals

New shareholders add momentum to Coinone’s customer drive

On Aug. 22, this reporter drove four hours from Seoul to Sokcho in Gangwon Province to visit Hanwha Resort Seorak Sorano, where Waterbomb Sokcho 2026, one of South Korea’s signature summer music festivals, was being held.

By Saturday afternoon, heavy rain was falling, but performances by well-known singers continued on stage. Festivalgoers sprayed one another with water guns as the event carried on.

There was another reason a digital-asset reporter had come to Waterbomb. Behind the stage stood a large two-story booth bearing a familiar name: Coinone, the South Korean cryptocurrency exchange.

Coinone joined this year’s Waterbomb as a title sponsor and rolled out a broad promotional campaign targeting festival attendees. Visitors packed the booth to take part in hands-on programs including a shooting game and prize draw.

The prizes drew particular attention. The draw offered Bitcoin exchange coupons worth 1 million won ($720), 300,000 won ($216), 100,000 won ($72) and 20,000 won ($14).

Attendees who took part in Coinone’s event also spoke about their experience.

One festivalgoer, identified only as A, said it was good to see Coinone, an exchange already used regularly, at Waterbomb. After winning Bitcoin worth 100,000 won ($72), the attendee said the festival felt almost free.

Another attendee, identified as B, was also an existing Coinone user. B said the platform had been in use for some time and that, as a digital-asset investor, it was gratifying to see a crypto company prominently attached to a major festival.

Some visitors to the booth had never invested in digital assets. One attendee, identified as C, said there had been a negative perception of digital assets, but the event prompted an interest in learning more about the sector.

Digital-asset firms move into popular culture

Digital-asset companies are expanding further into popular culture, including sports and music. Coinone’s title sponsorship of Waterbomb is part of a broader push by crypto firms around the world to raise brand awareness through mainstream cultural content.

Sports is one of the most active areas.

In South Korea, Upbit has partnered with League of Legends Champions Korea, or LCK, the country’s top League of Legends esports league, to widen its reach among younger users.

The trend is even more pronounced overseas. Manchester City, one of the best-known clubs in the English Premier League, has partnered with global digital-asset exchange OKX. Tottenham Hotspur is also sponsored by Kraken. Fourteen of the league’s 20 clubs have sponsorship ties with digital-asset-related companies.

Crypto’s presence is also growing at music festivals such as Waterbomb. Global digital-asset exchange Bybit has partnered with Tomorrowland Brasil, the international EDM festival, to promote its brand and services.

The strategy behind these investments in sports and music is broader adoption. The aim is to expose brands naturally through content familiar to the general public, including younger people with no investment experience, and lower the psychological barriers to entering digital-asset investing.

SponsorUnited, a sponsorship market research firm, said in a report that digital-asset companies are concentrating on large, high-profile sponsorships to strengthen their connection with mainstream culture.

Coinone steps up customer acquisition

Coinone has stepped up efforts to attract customers after recently securing fresh investment.

In May, Korea Investment & Securities and OKX each acquired stakes in Coinone from Com2uS Holdings as part of a deal involving a combined 20% holding, joining as major shareholders.

Coinone has made raising brand awareness and attracting new users a central task since the new shareholders came on board. The company is moving to expand its reach beyond existing digital-asset investors to the broader public.

Its role as title sponsor of this year’s Waterbomb appears to be part of that strategy.

A Coinone official said the company aimed to deliver the best possible brand experience for attendees at the Sokcho event, which marks the finale of this year’s Waterbomb. Coinone plans to keep expanding customer touchpoints through both online and offline marketing, the official added.