Moneycontrol
Last Updated : Jul 18, 2018 11:22 AM IST | Source: Moneycontrol.com

Crypto players emerging as top sponsors of sports

Bayern Munich star James Rodriguez launched his own cryptocurrency, JR10, which was made available on the SelfSell App from May 27 this year

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Cryptocurrency is on its way to becoming one of the topmost sponsors of sports, with club football leading the way for the emerging industry.

Global cryptocurrency exchange platform CoinDeal became the latest entrant after signing a sponsorship deal with English Premier League team Wolverhampton Wanderers, earlier this month. It will be the first time that a crypto-based platform would feature on player jerseys.

“I was always very close to the world of sports, managing players. At CoinDeal, we are very aware of the impact that football marketing can have on brand and its community, especially in an industry such as ours. We believe that a club like Wolverhampton Wanderers in a game as prestigious as the English Premier League will help carry our message globally. We only hope we can add a brick to the success of the Old Gold in this new challenge,” wrote CoinDeal co-founder Kajetan Maćkowiak on their official website.

In January, English giants Arsenal secured a sponsorship deal with US cryptocurrency CashBet, which will see the London-based club promote the company’s initial coin offering (ICO) at the Emirates stadium.

The deal, whose value was undisclosed, is the first time a major global sporting team has officially partnered with a cryptocurrency firm.

“We are pleased to welcome CashBet Coin as our partner. We are looking forward to working with CashBet Coin as they launch their new cryptocurrency,” Vinai Venkatesham, Arsenal’s chief commercial officer, told The Guardian.

Belgium captain and Chelsea talisman Eden Hazard too has an association with the crypto industry as he promotes All Sports Chain’s SOC cryptocurrency brand. After Chelsea defeated Manchester United for the FA Cup in May earlier this year, All Sports Chain (SOC) took to Twitter to congratulate their brand icon.

Bayern Munich star James Rodriguez launched his own cryptocurrency— JR10 — which was made available on the SelfSell App from May 27 this year. The Colombian playmaker delved into the industry with an aim to “reflect his brand values and build stronger fan relationships”.
First Published on Jul 18, 2018 10:30 am
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