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Sports Use Crypto

Which Sports Use Crypto?

Finding about Which Sports Use Crypto? At the end of 2021, crypto contracts grew by more than 100%, with experts speculating that crypto transactions will rise to 5 billion US dollars in 2026. The above analysis was made by Nielsen Sports. The level of growth experienced by popular coins like Shiba Inu, Dogecoin, and Bitcoin indicates the kind of support they are getting from the respective crypto users.

Crypto firms now understand that the success of any crypto project depends largely on how much patronage it’s getting from users. With a large community, crypto users can easily attract decentralized app developers, sell the project, raise more money for new decentralized apps, and increase the price of the token or coin.

Are you aware that crypto usage in the sporting world is about to experience an incredible boost? Highlighted below are a few instances that describe why now sounds like the right time to take advantage of march madness odds.

Manchester United Strikes Sponsorship Deal with Tezos

Equipped with the ability to deploy smart contracts, Tezos has proven to be a force to be reckoned with in the cryptocurrency community. In addition, Tezos operates a blockchain that’s open source; which can allow for peer-to-peer transactions to be carried out on its platform. Tez is the native token for this particular blockchain and was officially launched in June 2018.

Sometime in February 2022, the English Premiership giant Manchester United signed a sponsorship deal with this crypto company. The deal will cost Tezos about 27 million dollars every year. Furthermore, as stipulated in the agreement, the cryptocurrency company’s brand will be on Manchester United’s warm-up jerseys. In other words, the brand’s logo will be seen on Manchester United’s jersey before match kick-offs.

Tezos is familiar with such sponsorship deals because they have signed a couple of deals in the past.

The global worth of cryptocurrencies has been rising steadily since December 2020. This deal between Tezos and Man United further proves that there is still time to invest in cryptos if you have not done so already.

Manchester City Signs with OKX

Manchester United’s next-door neighbor, Manchester City, has decided they will not be left behind in the scheme of things. Not long ago, Manchester City put pen to paper by agreeing to specific terms and conditions with OKX.

OKX is a derivative exchange and cryptocurrency exchange company based in Seychelles. The company was registered in 2017 and had been doing remarkably well ever since. Unfortunately, investors based in the US are not currently allowed to participate on the OKX platform. OKX is a property of OK Group.

According to the deal, OKX can display its brand inside Etihad. In addition, in-stadium branding at the Academia stadium is also part of the agreement.

Unlike Tezos, this is the first sponsorship deal OKX has had with any company. Nonetheless, this deal is a healthy indication signifying the potential success that can emerge from crypto companies partnering with sports outfits.

Red Bull Racing Signs Deal with Tezos and Bybit

The Formula 1 world has been excited since Red Bull completed its sponsorship deal with Tezos and Bybit. Through the letters of the deal; it is understood that both companies will become the official cryptocurrency partners of Red Bull Racing. As agreed by all the parties involved, the deal will run for three years.

In another development, the Alpha Romeo team is currently in a sponsorship deal with Floki, and a host of other Formula One teams are enjoying sponsorship deals with one crypto company or the other. Crypto.com is also a Formula One sponsor.

The above deals are not just for fun. Instead, they are evidence showing the current penetration of crypto companies into the world of sports. So be a part of this move by leveraging march madness odds today!

Super Bowl LVI & Crypto Companies Earn Massively

Almost every sport is trying to take advantage of cryptocurrency deals. For example, one of the recent editions of the Super Bowl saw the acquisition of nearly 6.5 million US dollars when the organizers joined two other crypto trading companies to put forward an ad.

They renamed the famous Lakers arena Crypto.com Arena. While the renaming looked simple, the deal was pegged at 7 million US dollars. UFC also has a sponsorship deal with Crypto.com, with Crypto.com’s brand appearing on fighters’ apparel. The deal cost a whooping sum of 175 million US dollars.

This is a testament that crypto companies are now aware of the enormous profits they can make from sports. So, you can expect crypto companies to indulge in more sports sponsorship deals henceforth.

Binance and Their Many Sports Deals

In 2022, Binance currently held the top rank as the biggest cryptocurrency exchange platform. In addition, Binance has got several sports deals under its belt. Some of its most recent sponsorship deals include Africa’s biggest football tournament (AFCON 2021), sponsoring AFA (Argentine Football Association), and the Alpine fi team. But that’s not all; Binance was also behind developing a tokenized platform for Lazio fans in Italy. They have been able to promote closer relations between the club and its fans via fan tokens.

Fan tokens refer to cryptos linked to a particular league or club. Fans can use them in exchange for team-related values, such as purchasing tickets, participating in club voting, building engagement in fan spaces, and taking advantage of discount offers.

Besides Lazio, other clubs like PSG, FC Barcelona, Atletico Madrid, AC Milan, AS Roma, and Juventus have their fan token platforms.

Wrapping Up

The sports space is constantly exploring new opportunities with cryptocurrency companies. You must have discovered that the deals mentioned in this post happened no later than 2 years ago. That can only mean that the number of deals will keep rising as time develops. Expect many more sports to indulge in the use of crypto in the coming years. That is where march madness odds come into the picture. It allows you to use crypto assets to bet in favor of your best teams. Start your journey today!

Also, you can check: Crypto Investing: Tips To Maximize Returns and Minimize Risks.

About Jai Nagpal

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Hello everyone, My name is Jai Nagpal. I am a dynamic and accomplished Digital Marketing Executive, recognized for my strategic vision and impactful contributions to the digital landscape. My passion for digital marketing goes beyond the technical aspects, as I am also known for my creative flair and ability to connect with target audiences.