The significant presence of cryptocurrencies in major football leagues, such as the Premier League and LaLiga, highlights the importance of these agreements in strengthening visibility and trust in the industry.
He sports sponsorship It is one of the most popular ways for major brands to increase their recognition, advertise their products and strengthen their reputation, among many other reasons. In the case of cryptocurrencies, Sports sponsorship occupies a very prominent place in an industry that has known how to live with controversy and mistrust, but which has reached a point of maturity thanks to its innovation and changes towards greater security.
Cryptocurrencies are increasingly being adopted worldwide and Almost all the players in the crypto space work day in and day out to provide people with tools to better understand the blockchain world.Perhaps it is because of this growing adoption and the search to continue adding users that companies linked to the crypto sector choose sports sponsorship as a great marquee to showcase themselves.
Ahead of the start of the new football season, the world’s major leagues are showing a large participation of companies linked to the crypto world in sponsorships.The English Premier League will have 15 of the 20 teams with current partnerships with companies in the sector. The percentage is even higher in La Liga of Spainwhich will have 19 of its 20 teams associated with companies in the crypto industry.
The three major categories
The three main sponsorship categories are pure cryptocurrencies (exchanges, wallets and payment platforms), crypto casinos and betting and Web3 and NFT platforms – which are projects linked to Blockchain technology and the issuance of digital collectibles-. The Premier League will have seven of its clubs with cryptocurrency exchanges as sponsors, while in the case of LaLiga there will be five, although they have a large presence of partnerships with companies linked to NFTs.
To illustrate the importance of these sponsorships for the crypto industry, we can take the statements of Casper Stylsvig, Chief Revenue Officer of English Chelsea, after the announcement of its partnership with the BingX exchange: “Aligning with one of the fastest growing cryptocurrency exchanges in the world is a sign of the Club’s ambition to innovate and growing our sponsorship network. Both BingX and Chelsea share a passion and commitment to investing in the future and we look forward to collaborating with them in the seasons ahead.”
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Pxhere
The Premier League and LaLiga clubs’ agreements with crypto-related companies include different types of activations, through which the companies seek to increase brand recognition, add new users and offer unique experiences in the digital world, among others. For all of them, it is a great way to reduce the gap between the crypto industry and the general audience. In this regard, Vivien LinChief Product Officer of BingX, said that “We look forward to providing our users and fans with unique experiences and opportunities, building a smarter and bolder future.””.
The cryptocurrency industry has gone through dazzling moments and moments of uncertainty. The present positions the crypto industry in a situation of stabilization, in which the main actors continue to work to maximize transparency and trust from its users. The much-mentioned mass adoption is a common goal that is difficult to achieve, but one that agreements between crypto companies and renowned sports properties can help a lot towards.
Brand Manager for Latin America and Europe at BingX.
Source: Ambito
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