On September 19, Bitget, a prominent global crypto exchange, announced its latest partnership with LaLiga, the top professional football league in Spain. This collaboration aims to enhance cryptocurrency adoption across key regions such as Southeast Asia, Eastern Europe, and Latin America.
The partnership comes at a significant time for Bitget. The exchange is currently celebrating its sixth anniversary, marking another milestone in its journey of growth and global expansion.
From Messi to LaLiga: Bitget’s Expanding Role in Football
One of the partnership’s standout features is the mutual focus on leveraging blockchain innovation. LaLiga’s exploration of technologies like AI, virtual reality, and the metaverse shows its commitment to staying at the forefront of digital transformation.
Bitget’s CEO, Gracy Chen, expressed her excitement about the partnership at a TOKEN2049 side event in Singapore. She emphasized how the collaboration aligns Bitget’s commitment to innovation with LaLiga’s global reach and influence in sports.
“Partnering with LaLiga allows us to connect with millions of football fans in emerging markets, fostering crypto adoption and making digital finance more accessible,” said Chen.
Read more: Bitget Review: What You Need To Know in 2024
This partnership is not Bitget’s first foray into the football segment. In 2022, the exchange partnered with Lionel Messi, the Argentine football icon and winner of multiple Ballon d’Or awards.
The collaboration emphasized educating users about digital assets. Together, they ensured that users would have the tools to understand and engage with the technology securely and effectively.
The Bitget-LaLiga partnership also reflects the growing interest in the intersection between crypto and sports. According to a report from Doors3, 75% of sports fans expressed a desire for more personalized and privileged experiences, which digital assets like fan tokens and NFTs can provide. Furthermore, 78% of fans are interested in more immersive experiences—such as virtual interactions with clubs or exclusive digital content—that could be facilitated by blockchain technology.
Indeed, the use of blockchain in sports offers new opportunities for engagement. Fan tokens, for example, enable supporters to feel more connected to their favorite teams by offering voting rights on minor club decisions or access to exclusive merchandise.
On the other hand, NFTs can give fans ownership of unique digital assets related to their favorite players or teams. These digital innovations provide fans with a deeper sense of involvement, transforming how they interact with sports.
Read more: Top Esports Tournaments To Watch Out for in 2024
While the crypto-sports intersection holds promising potential, it also highlights some of the inherent risks. In October 2023, a report by the UK House of Commons Culture, Media, and Sport Committee raised concerns about the volatility of crypto assets. The report also pointed out the potential financial harm these assets could cause to sports fans.
Consequently, the agency recommended that future regulations governing sports exclude the use of fan tokens as a measure of fan involvement, given their financial risks.
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