Cryptocurrency adoption is slowly but surely spreading across the World. Projects are branching out their marketing budgets and partnerships to sports teams in a bid to gain further recognition. BeInCrypto looks at crypto projects that have partnered with sports teams.
Cryptocurrencies have found many weird and wild ways to gain users’ attention, from making use of crypto influencers and celebrities to dishing out tokens to die-hard followers. However, in an ever-growing industry, marketing plans need to adapt, and projects need to grow. Crypto has slowly entered the sporting world as we look at several teams that feature cryptocurrency sponsors.
Aston Martin Formula One & Crypto.com
However, racing has featured crypto projects before, with less purpose than the brand new partnership between the newly formed Aston Martin Formula 1 team and Crypto.com.
Previously, DogeCoin managed to raise $55,000 to have a Nascar sponsored with the Shiba at Talladega. However, the sponsorship was more of a meme than anything else. The recent partnership between Aston Martin Cognizant Formula One Team and the popular cryptocurrency app Crypto.com represents something more significant. The partnership focuses on the growth of technology and cryptocurrency innovation.
The partnership becomes the most recent between a sports team and a crypto project. Co-founder and CEP of Crypto.com Kris Marszalek commented on the move in a press release, stating:
“In only four years, we have built the world’s most secure and fastest-growing cryptocurrency platform serving more than 10 million customers worldwide. We’re proud to be partnering with Aston Martin as they return to Grand Prix racing, especially as the first cryptocurrency platform to be sponsoring an F1 team.”
Aston Martin Executive Chairman Lawrence Stroll also commented on the move, expressing how impressed he was with the growth and management of the Crypto.com project. Stroll also expressed the team’s desire to grow with the times and remain innovative, saying:
“This partnership with Crypto.com really puts Aston Martin Cognizant Formula One
Team at the forefront of the boom in cryptocurrency and blockchain technology.”
StormGain Partners With Serie A’s SS Lazio
Cryptocurrency sponsors of football teams are also picking up. The most recent being that of cryptocurrency exchange and wallet provider StormGain. The multi-year partnership sees one of the oldest and traditional football teams in Italian football merge with one of the most innovative crypto platforms on the market. Offering the perfect synergy of sports and crypto combined.
SS Lazio Marketing, Sponsorship and Event Director Marco Canigiani commented:
“We are very proud of this partnership that will reinforce our innovative positioning. Our partnership will help us widen our international landscape and create at the forefront projects for our fans”.
Alex Althausen, CEO at StormGain said:
“StormGain is delighted to partner with SS Lazio, a world-famous team with a rich history and values which echo our own perfectly. Through this sponsorship, we’re thrilled to join the worlds of crypto trading and football together and offer many exciting benefits for our clients, who can win exclusive access to the Roman superstars and unique prizes thanks to StormGain. We look forward to the start of a new season, which, no doubts, will be exciting and yet different from any other!”
Chiliz Continues Expansion in Football to US Market
The biggest impact within the sporting industry and cryptocurrencies has to be Chiliz. Chiliz is touted as being the world’s leading blockchain fintech provider for sports & entertainment. The project has launched a plethora of fan tokens within the football sports industry. The tokenized sports and entertainment exchange now features fan tokens for some of the largest football teams in the world. Teams with digital fan tokens now include Barcelona, AC Milan, Galatasaray, Paris Saint-Germain, AS Roma, Juventus, and Atletico Madrid.
The fan tokens have proven to be a great tool that incorporates fans and generates revenue.
The crypto project may have had big plans early on. Those plans have now come to fruition, but the company has further plans. Chiliz announced earlier this week that it would be investing $50 million into an expansion into the United States. It is inevitable that Chiliz targets one of the biggest sporting countries on the globe. CEO Alexandre Dreyfus commented on the news saying:
“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organizations”.
The New York office will look to capitalize on the major sporting teams on the continent. The expansion looks to further grow the digital token sector. The company is currently in talks with Formula One teams and even esports teams.
The growth of the cryptocurrency industry coupled with adoption in sports, will slowly intertwine, and it is very likely that it will be commonplace to see cryptocurrency projects within sporting teams in the future. Either through sponsorships, fan tokens, NFTs, or even blockchain providers.