Paris Saint Germain (PSG), Juventus, and Arsenal…
Can you tell us what do all these big football clubs have in common?
Hint- It’s something to do with the world’s most revolutionary and promising piece of tech!
The last few years have seen all these three big teams engage with Bitcoin and Blockchain in some capacity or the other.
PSG and Juventus have aggressively pursued a strategy of using ‘Tokens’ as a form of selling merchandise and other items for fans.
Arsenal, on the other hand, is the first team in the English Premier League to be sponsored exclusively by Cash Bet, an American betting company that works with cryptocurrency bets.
The Relationship between Sports and Cryptocurrencies: What you should know
Many leading marketing experts are of the view that the sports industry has always been quick to identify new opportunities to promote tech and digital engagements.
They point towards the engagement the sporting fraternity had with social media, when it first burst into the scene, almost a decade back. Cryptocurrencies have always been able to generate interest among sportsmen, celebrities, actors, musicians, and the like.
With money to invest, these entities are not afraid of rolling the dice when it comes to investments in new tech. Sports teams feel that cryptocurrencies, Blockchain, and the tech it represents can signal the start of something financially profitable in the coming future.
From sponsorship deals to players investing in cryptocurrencies like Bitcoin, cryptocurrencies are far more ingrained in the sporting industry than in any other sphere.
Paris Saint-German and Juventus: The Birth of Blockchain Tokens
PSG and Juventus are two of the biggest football clubs in the world. They boast talents like Mbappe, Neymar, Rafinha, Angel Di Maria (PSG) and Christiano Ronaldo, Dybala, Morata, etc.
In other words, they are rich, powerful, successful, and have a long legacy. Towards the end of the year 2018, both the clubs announced a strategic partnership with a Blockchain company, Socios.
Both of them worked with Socios to develop branded tokens, which would allow the fans of the clubs to monetize their engagements. These tokens could be redeemed by fans by voting on some important issues and decisions of the clubs like-
- The design, color, and theme of the club’s jerseys
- The line-up of friendly matches that the club should play
- What should be the anthem of the club
- The role and selection of the mascot
As you can clearly see, it does not give fans the chance to vote on something important. However, fans will definitely feel entitled and think that they have a say in some affairs of the club.
Arsenal and its Partnership with American Blockchain Company, CashBet Coin
The year 2018 also saw the world’s sixth-biggest football team, Arsenal become the first in the prestigious English Premier League to sign with CashBet Coin, an American betting and gaming company innovating on the role of cryptocurrencies in sports betting.
The Initial Coin Offering for CashBet related to the launch of its own crypto coin called CashBet Coin. The partnership that was signed by the two entities announced CashBet as Arsenal’s Blockchain partner.
Fans would attest to the fact that post the signing of the deal in late 2018, we saw a number of advertising hoardings, especially in-stadium digital banners during the 2019 season.
Arsenal, like other sporting teams, realizes that there is immense money to be made in partnering with new tech. In fact, CashBet’s Coin can be used for online betting, casino, gambling, as well as for playing video games on the platform.
The Final Word
The coming years are expected to see far greater engagement between football teams and crypto stakeholders. Club jersey sponsorships have already been signed between exchanges and teams, in addition to tokens becoming much more mainstream in the different teams in the 2021 season. The androidheadlines.com is upon us, and sporting teams do not want to miss out on all the profits.