You may have noticed that in the past few years, there has been an increase in the number of football teams sponsored by cryptocurrency companies. At first, it may seem like an odd pairing. After all, what do virtual currencies have to do with a physical sport?
However, upon closer examination, it becomes clear that crypto and football actually have a lot in common. Both are global industries with a passionate fan base, and both are constantly evolving and innovating, with clubs such as Chelsea continuing to attract fans from all over the world.
Bitcoin exchange BitMex have a sponsorship deal with AC Milan
Indeed, we have already seen other industries to have used football’s global popularity and presence around the world as a marketing opportunity.
The gambling industry is one great example of this, as many operators have decided to create sponsorships with clubs, leagues, and tournaments in order to get their name out there.
And, given the fact that it is now possible to utilize crypto within gambling by playing crypto poker at Ignition Casino among many other types of games, it really does not come as a surprise to see the cryptocurrency world entering the sports industry in the way that it is.
With that said, here are a few reasons why crypto is sponsoring more and more football teams nowadays, with some of them being rather easy to understand.
1. To reach a wider audience
Football is one of the most popular sports in the world, with billions of fans worldwide. By sponsoring a team, crypto companies can reach out to this vast audience and raise awareness about their brand. In addition, sponsorship deals often come with other promotional opportunities, such as advertising on stadium billboards or during TV broadcasts.
Manchester City have a sponsorship deal with Bitcoin and crypto exchange OKX
2. To tap into the power of social media
Football clubs have millions of followers on social media, which gives sponsors a unique opportunity to reach out to potential customers and create a buzz around their brand. For example, in the past when teams have announced that they had partnered with blockchain platforms including Socios.com, the news quickly went viral on Twitter, with crypto users and football fans alike sharing their excitement about the partnership.
3. To show support for innovation
Many crypto companies are young startups that are trying to disrupt established industries such as banking or payments. By sponsoring a football team like Liverpool, they can show their support for innovation in the world of sports. For example, when Juventus FC announced its partnership with blockchain platform fan tokens provider Chiliz, it sent a strong signal that traditional sports clubs are open to working with cutting-edge technologies.
Watford Football Club have a multi-year partnership with Stake.com
4. To increase visibility in key markets
Football is a global sport, but some leagues are more popular in certain countries than others. For example, the English Premier League is watched by millions of people in India, while La Liga is more popular in China. By sponsoring a team that competes in one of these key markets, crypto companies can increase their visibility and reach out to potential customers in these regions.
5. To build trust and credibility
In the past, crypto has been associated with illegal activities in the past, although this may have been due to the fact that there is still a negative perception of virtual currency due to the lack of education. However, by sponsoring a legitimate and well-established industry such as football, crypto companies can help to change people’s perceptions of the industry and build trust and credibility.
6. To attract top talent
Many crypto companies are looking to hire talented engineers, marketers, or salespeople. By sponsoring a football team such as Arsenal, they can show that they are an attractive and forward-thinking employer that is willing to invest in its employees. In addition, sponsorship deals often come with opportunities to host events or meet-ups at the stadium, which can be a great way to attract top talent.
Final Thoughts
Crypto companies sponsoring football teams are not as random as they may first seem. There are actually many compelling reasons why this trend is gaining momentum. From reaching out to a global audience to tapping into the power of social media, crypto sponsorships offer many benefits for both parties involved. So do not be surprised if you see even more teams partnering up with virtual currency firms in the near future!
