Cryptocurrencies are on the course to become the biggest industry to offer funding by way of sports sponsorships. Club football so far has emerged as the major attraction as cash-rich cryptocurrency companies are looking up to sports for promoting their brands. Top football clubs and icons have already been tapped by cryptocurrency brands to endorse their brands. Cryptocurrencies’ swing towards sports is also powered by the fact that major social media platforms like Google and Facebook have started scrutinising and refusing the cryptocurrency advertisement offers following a number of big scams in their virtual money trade.
Even in sports, there are reservations on a tie-up with the cryptocurrency brands, some of the big names like Arsenal and Lionel Messi have inked endorsement deals with the virtual currency brands.
Arsenal to promote CashBet
The Premier Leauge club Arsenal has signed a sponsorship deal with the US cryptocurrency CashBet for an undisclosed amount to promote the CashBet initial coin offering (ICO) at the Emirates stadium. Inked in January this year, it has been the first major sponsorship tie-up between a leading sports entity and the virtual currency brand.
Wolverhampton Wanderers CoinDeal tie-up
Latest entrants to the Premier League Wolverhampton Wanderers are the latest to sign an endorsement deal with a cryptocurrency brand. The English football club has agreed to a sponsorship deal with the Polish cryptocurrency exchange CoinDeal. As part of the deal, Wolverhampton Wanders will support the CoinDeal logo on their shirts.
James Rodrigues’ own crypto
Colombian playmaker James Rodriguez, the top scorer at the FIFA World Cup 2014 in Brazil, has launched his own cryptocurrency with an aim to “reflect his brand values and build stronger fan relationships”. Rodrigues “JR10 token, is available for pre-purchase via the SelfSell App since May 27 this year. Rodriguez is the first international footballer to delve into the blockchain world through his own cryptocurrency asset.
Eden Hazard promoting SOC
Belgium’s Eden Hazard is promoting All Sports Chain’s SOC cryptocurrency brand. When Chelsea beat Manchester United to bag FA Cup, All Sports Chain (SOC) had taken to Twitter to leverage their association with Hazard as they congratulated the club and their brand icon. Hazard had responded with the message “happy to be part of the SOC family!”
Mayweather backed Stox.com’s ICO
Floyd Mayweather promoted Sox.com’s ICO in its initial coin offering had raised $33 million in August last year. The boxer was promoting the brand on Twitter.