First Ever Spanish Football Deal Financed With Crypto

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In Brief
  • Ex-Real Madrid player, David Barral, has been acquired by a new team using cryptocurrency.

  • This is the first public cryptocurrency-based football deal.

  • The deal was inked with Criptan, a Spanish crypto platform that recently sponsored the team.

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The crypto deal was made on behalf of DUX Internacional de Madrid, a lower division team looking to add talent.

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A ‘first’ in the industry is almost always a positive sign of adoption. And now, the first-ever crypto financed football deal has concluded.

DUX has acquired ex-Real Madrid football player David Barral via a deal made possible from a new crypto-based club sponsor. Criptan, a Spanish focused ‘crypto for all’ platform, recently become a sponsor of the club.

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It also helped facilitate the transaction as DUX Internacional de Madrid secured the Barral using crypto funding.

Breaking New Ground

As a transactional platform, Spanish-based Criptan allows users to transfer cryptocurrencies, the avenue for the above-mentioned trade. Although it’s not clear how the funds will be distributed, this is likely the beginning of a new era where players are traded using crypto instead of cash.

The company didn’t state which cryptocurrency/ies were used for the trade, but it was likely one of the larger blockchains on Criptan’s platform.

Sports and Crypto

It’s unclear yet if Barral can opt to have any of his contract paid in crypto or even if he wants to. The trade does however put Barral on a list of other high-profile athletes that are taking a liking to crypto.

Russell Okung, an American football player, finally had his wish granted when he received partial payment in crypto for his NFL contract, something he has been fighting for over a year.

As cryptocurrencies continue to rise in price and popularity, there is a higher chance that they’ll continue to influence modern culture. They may start getting involved in many different aspects and industries that were previously ignored.

A Publicity Stunt?

Criptan is a new sponsor and may have made it mandatory to conduct a transaction in this manner. Regardless of its motivations, this is likely a positive sign for the crypto ecosystem at large.

For cryptocurrencies to be accepted widely, they need to be user-friendly. This purchase suggests to the entire football world that cryptocurrencies are a viable option when conducting a trade.

Disclaimer

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Harrison is an analyst, reporter, and lead specialist at BeInCrypto based out of Tel Aviv, Israel. Harrison has been involved in the cryptocurrency space since late 2016 and is passionate about decentralized ledger technology and its potential.

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