The Premier League accumulates a worldwide viewership exceeding millions. It is no surprise then that cryptocurrency businesses are looking to English Saturdays at 3pm to promote their products and services.
By merging crypto and the Premier League, it doesn’t just promote the businesses themselves, it also promotes the idea and usage of cryptocurrency in the mainstream. By Wolverhampton Wanderers securing a deal with an exchange platform – more to follow – it also increases interest and knowledge in products across the industry – from more further purposes of blockchains to the already popular use of the Bitcoin wallet online.
Overall, the moves are mutually beneficial. But what has happened to date?
Crypto Advertisements and Sponsorship
There has been a rise in the number of crypto sponsorship popping up around Premier League grounds. The biggest one to date surrounds Wolverhampton Wanderers FC’s. A sponsorship deal was struck with CoinDeal who also launched a viral promotional video at the club’s stadium, currently viewable on YouTube.
It should also be noted that gambling sponsorship is also rife within the Premier League and more than 50% of clubs this season have a gambling sponsor. There is then an indirect relationship to crypto here as many of these gambling companies are also welcoming deposits with cryptos.
West Ham’s Fan Tokens
Fans like to be part of an exclusive group and that is seen in club memberships across the Premier League. Yet, West Ham United are trailblazing a new idea of creating fan tokens that can be distributed between its fan base and exchanged for club merchandise and even match tickets.
This is crucial for the crypto world because it now means sports teams are placing tokens directly in the hands of fans and helping them experience what it is like to own cryptocurrencies. These experiences may be seen as valuable and it may turn the same fan’s attention to crypto who may not have considered it before.
The same types of tokens are being offered by players as well. Michael Owen and James Rodriguez have launched their own coins, and more are rumoured to be in the pipeline by other footballers.
Crypto Football Teams – The Future of the Premier League?
Earlier this year, Turkish football team Harunustaspor were reported to have bought a player using bitcoin. Although the fee was small in comparison to Premier League standards, the event was monumental.
It paves the way for other football teams to consider buying – and possibly even paying players. If the trend continues around other top-flight leagues, there is a chance that the future of the English leagues could also start adopting bitcoin to pay for new talent.
It’s an exciting time for bitcoin in the mainstream eye with the above developments coming together – and there are many avenues to be explored.