The sports world has been buzzing this year with new endorsements from cryptocurrency projects. Here are some of the top partnerships announced this year.
Cryptocurrency projects have been aggressively expanding this year and one area which may prove to be key is the world of sports. Indeed, sports fans and cryptocurrency investors have much in common. From tickets to memorabilia to content, the sports industry could find itself amidst something of a ‘crypto-revolution’ if the momentum keeps up.
Just in 2019 alone, there have been multiple high-profile cryptocurrency collaborations with major sports teams.
- StormGain recently announced they would be the sleeve sponsor for the English Premier League team Newcastle United. The historic team will be sporting the StormGain logo on their sleeve for the first match of the season against Arsenal on August 11th.
- Litecoin recently announced it has been chosen to be the “official cryptocurrency” of the American football team the Miami Dolphins.
- Another English Premier League club, the Wolverhampton Wanderers, has an ongoing deal with cryptocurrency exchange CoinDeal which began for the 2018-2019 season. It will be renewed for the upcoming season as well.
- NBA team the Cleveland Cavaliers formed a partnership with the cryptocurrency exchange UnitedCoin last month and was able to advertise at their home games.
- Portuguese football club Benfica began accepting cryptocurrency payments for tickets and merchandise this past June.
There’s much more happening behind-the-scenes in the world of sports and cryptocurrencies. Perhaps the next big push could be in the realm of digital collectibles, a concept which has been catching on ever since 2018. It was last year that the Major League Baseball team Los Angeles Dodgers announced it would be issuing 40,000 exclusive collectibles on Ethereum.
In short, cryptocurrencies and sports might be a winning combination as the industry looks to expand its audience beyond the expected channels. Who knows, maybe you’ll start seeing cryptocurrency ads with your local team sometime in the not-so-distant future.
Do you think that cryptocurrencies could bring a whole new dimension to sports advertising, merchandise, and collectibles? Let us know your thoughts in the comments below.