The Crypto industry is very anxious to reach new organic traffic and push its way into sports. As a result, companies have started showing great interest in picking for advertisements and sponsors.
For example, Crypto.com has a deal with Lakers of about $700 million. This amount will mean a lot to the Los Angelos arena. Sparks and Kings, the staple center for NBA, will also benefit from this cash. Coinbase is at the forefront of signing various deals with many other NBA teams. Tom Brady, a self-investor in cryptocurrency, has a stake in FTX. He believes that sports are a good place to attract many people to the crypto world.
The National Women’s Soccer League has announced its next step in signing a multi-million deal in crypto to balance this. It will be the most important partnership that the crypto platform has ever done. Voyager Digital is a leading investor that will incorporate the Women’s League into their plans.
Crypto seeking new audience
The voyager team has deals like Tampa BBay Buccaneer, NASCAR driver Landon Cassil, Mark Cuban-owned Dallas Mavericks, etc. So adding crypto to their shares will bring a new challenge to their fans. Steve Ehrlich, the CEO of Voyager, said that they have noticed this could be a favorable opportunity to engage with fans, the community, and NWSL players.
He continued, “What’s intriguing to me is engaging with women’s sports, and that’s a very important aspect for us because it’s a market that we believe is ripe for education and an opportunity to give these women a stronger foothold on their financial future through crypto.”
The investment by Voyager is enough for each player to get their share. All the players will have to create their digital wallets for future investments with the related companies. The CEO did not disclose the total amount they will offer to the club. Players in NWSL will also benefit from free crypto education, a report by sportsmedia.
Marla Messing, the NWSL interim CEO, admitted that Voyager doing the correct thing by investing in an innovative league. Since the partnership runs up to the individual player, the bad news about payment delays will reduce. It’s better when everyone gets an education on investing in digital assets because it’s the future of currencies.
Many others sports leagues have embraced cryptocurrencies. They are collaborating more with companies to raise their yearly revenue lost during the pandemic.
Last month, Endeavor-owned UFC received $175 million after signing a deal with crypto.com. Crypto.com also sponsored Formula 1 race which Liberty Media owns. Some part of the club’s logo will have the cryptocurrency mark whenever you receive sponsorship.
FTX also went ahead to sign a deal with some popular baseball clubs. The club had to patch a US FTX logo in their uniforms. They also grabbed the Miami Heat arena’s name for another $135 million deal, a report by coindesk.
Athletes and single players have also gone for solo deals. One of the top names is Stephen Currey, who plays for warriors and signs a deal with DTX and Blockfolio Trevor Lawrence.
According to t the statistics, sports fans are very illiterate when it comes to crypto. So the NFL has gone ahead to put restrictions against teams who are selling sponsorship deals from crypto. The CEO said those sponsorships are meant to support clubs during difficult moments like the covid19 pandemic.
Among the soccer clubs, Manchester City and FC Barcelona were very close to signing crypto deals. But the related board canceled sponsorship deals related to crypto. Companies must be valid to be accepted.
A senior manager for Navigate, Kevin Kane, said that there are minor risks related to those deals. Therefore, you cannot quickly sign a deal without knowing the consequences. The rate of growth in the cryptocurrency industry is shocking. But this is just the beginning of sponsorship deals.
He continued: “You look at the number of people around the world investing in cryptocurrency. Last year it doubled to 100 million, now estimated to be more than 220 million. And many people expect it to double again next year.” The capital market is going to grow at a rapid rate, which will affect the stock.
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