As cryptocurrencies become more popular, the sports industry is capitalizing on this digital revolution through innovative sponsorships. These “cryptocurrency sponsorships” change the game, giving sports teams access to a global audience and giving fans a unique opportunity to engage with digital currencies.
Prominent crypto brands are now acquiring naming rights to sports franchises and maintaining a constant presence through advertising during games. A notable example is his Crypto.com, which secured the naming rights for NBA giants Los Angeles Lakers’ stadium, currently known as Crypto.com Arena.
The synergy between sports and crypto companies such as Binance, Tezos, FTX, and Socios.com will open up new revenue streams and strengthen fan engagement in the crypto sector. As the importance of digital currencies increases in the sports industry, more and more cryptocurrency companies are sponsoring events and teams, merging digital currencies and the sports field.
This trend is also impacting sports betting, as many betting companies accept cryptocurrencies. According to top tipster Kate Richardson, “The adoption of crypto assets in the betting industry has remarkably improved the revenue of bookie sites, and the signs are showing we can expect more growth and acceptance in the foreseeable future.” MightyTips – Today’s best sports tips recommended by successful tipsters like Kate Richardson.
Crypto Brands Sponsoring Sports
Sports and cryptography together offer a wealth of opportunities that have the potential to completely transform not only the viewing experience, but also the financing and management of sports. Let’s take a look at some major crypto brands and the deals they offer:
Binance
In North America, Europe, South America, and Africa, Binance is making remarkable progress in sports sponsorship. The largest cryptocurrency exchange is one of the crypto companies that consciously associates its brand with various sporting events such as Serie A and the African Cup of Nations.
Binance is gaining momentum with its partnership with Series A giant S.S. Lazio is a powerful mainstay of Italian football. The brand can also be seen in F1 as it is one of the main sponsors of his BWT F1 team.
Tezos
Cryptocurrency exchange platform Tezos has expanded into the sports sponsorship space by collaborating with the New York Mets, strengthening its brand ties to Major League Baseball in the US.
This brand can also be seen in English football. Official sponsor of Manchester United’s training kit. F1 racing teams Red Bull Racing Honda and McLaren Racing are also among the notable companies that have collaborated with Tezos.
Crypto.com
Through sponsorship of various domains, Crypto.com has become a major player in the global market. The brand’s global reach includes sponsorship of F1, FIFA World Cup Qatar 2022™, and numerous of his NBA, NHL and soccer clubs.
Perhaps the company’s biggest breakthrough was acquiring the naming rights to the Los Angeles Lakers Stadium, known as Staples Center, in November 2021 as part of a 20-year, $700 million deal.
Following the transaction, Crypto.com CEO Kris Marszalek said: “This is just such a brilliant move…because the next decade belongs to crypto, and this positions L.A. and this particular venue right at the center of it.”
NBA Giants Stadium Now known as Crypto.com Arena, it probably won’t get any bigger. Perhaps this crypto platform has gone a step further and made waves in the racing world after acquiring the naming rights to the Miami Grand Prix.
Amazing Notes
Cryptocurrency companies increase brand visibility by connecting with thousands of passionate sports team supporters. In addition to the above offers, there are also others worth mentioning here.
- Blockchain.com: In 2022, the Dallas Cowboys became the first NFL team to sign a sponsorship deal with cryptocurrency company Blockchain.com.
- Socios.com: The cryptocurrency company has signed sponsorship deals with NFL teams the Baltimore Ravens and Atlanta Falcons.
- Chiliz: The sports-focused blockchain company invested his $100 million in acquiring a 24.5% stake in Barcelona’s digital content sector.
- Sorare: Sorare, an NFT-based fantasy sports platform, partnered with Liverpool FC in September 2022.
Top Teams with Cryptocurrency Sponsorship Deals
Several famous sports teams – basketball, football, F1 and rugby – have been sponsored by cryptocurrency companies. Teams currently have multi-year, multi-million dollar contracts with crypto companies. Let’s take a look at some of the top teams that have signed sports crypto sponsorship deals.
Philadelphia 76ers
NBA team Philadelphia 76ers has signed a deal with Crypto.com. In addition to sponsorship from New Jersey Patch, the Fargo Center team received significant financial support estimated at $10 million annually.
The brand has also introduced an NFT series that is accessible to all fans of cryptocurrencies and non-fungible tokens. The Philadelphia Sixers have proven to be a great fit for Crypto.com as it seeks to grow its digital currency trading site presence, said Stephen Kalifowitz, the brand’s chief marketing officer.
In the words of Steven Kalifowitz, “We looked at the entire NBA, every team that had an opportunity…The 76ers just stood out.”
Manchester City
OKX has become the football club’s first official cryptocurrency partner under a deal signed in March 2022. Cryptocurrency exchange OKX has announced that it will become Manchester City’s official sleeve sponsor. Combined, the two deals will give the Premier League team about $70 million over three years.
Alpine F1 Team
The partnership between Binance and Alpine began in 2021 with the aim of offering fans new perspectives to interact with their favorite sport through a variety of digital products and experiences. The primary goal of designing and developing the partnership was to increase brand awareness as well as meet Binance’s key customer retention performance metrics. With this deal, Binance becomes the official fan token partner of the BWT Alpine F1® team. Furthermore, this led to the development of the Alpine F1 Team His Fan Token, which became his best performing F1 Fan Token of all time.
Dallas Cowboys
The world’s most valuable sports team and America’s most popular sports team, the Dallas Cowboys are the world’s most valuable sports team and America’s most popular sports team in 2022 that Blockchain.com, one of our respected and popular platforms. Companies wishing to sell and trade cryptocurrencies become exclusive partners for digital assets.
This is a historic agreement and the first-ever cryptocurrency collaboration with an NFL franchise. This multi-million dollar sponsorship deal with the Dallas Cowboys allowed the digital asset to gain greater recognition among the general public. The cryptocurrency company, which has been operating since 2011, has launched its first domestic professional sports partnership. This agreement includes branding, advertising, content, and event features.
Final Thoughts
As the global adoption of cryptocurrencies increases, the field of sports is creating endless opportunities for crypto-based companies to expand their base among millions of fans. Over time, this fusion sector will only grow.
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