Crypto Corner: The Sports Slice
You might call Floki Inu a meme-coin, but the token secured a major sponsorship over the past week that will put the blockchain’s logo in front of quite a few eyeballs. Powerhouse consulting firm Deloitte has something to say about sports NFTs as we look towards a new year. Meanwhile, one sports executive thinks that it’ll be crypto sponsorships – not sports gambling ones – that will revolutionize sports revenues in the years to come.
There’s a lot to be said in the sports and crypto conversation this past week. Let’s review what all the chatter has been about since last week’s Slice.
The Sports Slice
Adidas Is All-In On The Metaverse?
Easily one of the most high-flying news reports in crypto this week has been Adidas’ continued interest in blockchain and the metaverse.
The sports apparel brand is doubling down on engagement with The Sandbox and Coinbase, and grabbed it’s own Bored Ape Yacht Club NFT this past week. Don’t be shocked when we start seeing more of the brand (and competitors) engaged in the space.
The Floki Inu Jersey
We’ve seen some wild headlines around the Inu tokens this year, from Shiba to Floki and many more. This past week had one that definitely caught some folks off-guard.
As we reported on sister network NewsBTC earlier last week, Floki Inu secured a sponsorship deal with Italian football giant S.S.C. Napoli. The deal will see the Floki Inu logo on both Napoli’s jersey and stadium.
Deloitte Sees A Bright Future In Sports NFTs
Deloitte is looking ahead to next year’s future of NFTs, and the consulting firm sees a bright future ahead for sports NFTs. As our team covered in recent days, a recent report from the company shows that Deloitte expects $2B worth of sports NFT transactions next year – a number that nearly doubles 2021s numbers.
With Dapper Labs latest partnership with the NFL expected to come to life, as well as the emergence of other blockchain projects, such as fan tokens, this shouldn’t surprise those who were already bullish in the space.
Deloitte has been paying particular attention to blockchain technology this year. Last month, the firm partnered with Avalanche in a move that spurred substantial growth for the AVAX token.
Premier League Pondering?
Reports emerged over the past week that European football’s Premier League is doing extensive due diligence around crypto deals. The league is investigating club and crypto firm connections, with some concerns around lack of regulation in the industry; however, reports also go on to state that the Premier League is also exploring league-wide deals.
Don’t be surprised if one of the major exchanges – particularly those that have been aggressive in sport sponsorship thus far, like FTX and Crypto.com – make a move, given the Premier League’s popularity across the globe. Rumors also have included the likes of NFT platforms Sorare and platform producer Dapper Labs.
Crypto Vs. Sports Betting: Who Will Be The Bigger Sports Sponsor?
For years, sports gambling was seen as the next biggest player in sports sponsorship across the U.S. As states continued to warm up to progressive sports legalization policies, and more competitors entered the space, industry executives saw a bright future for sports gambling and sponsorship revenues. Could crypto companies be even more bullish? Crypto.com’s recent sponsorship of Los Angeles’ former Staples Center could be the first signal of much more to come.
In fact, SponsorUnited Founder and President Bob Lynch believes that crypto and blockchain firms will exceed sports betting platforms as the high-horse revenue driver for the sports industry looking towards the years ahead.
Related Reading | NFTs In A Nutshell: A Weekly Review
Crypto.com has been nearly a weekly contributor in new stories that have made their way to the Sports Slice lately. The exchange has been arguably the most aggressive name in crypto when it comes to finding major sports partnerships. | Source: CRO-USD on TradingView.com
Crypto.com Finds A New Deal With Conmebol
South American governing body of soccer Conmebol is signing a three-year deal with Crypto.com that will run from 2023 to 2026, according to reports from SportsPro Media. The deal will include NFTs, after the exchange starting supporting NFTs earlier this year, for Conmebol’s Copa Liberatadores. It will also secure Crypto.com as the first-ever sponsor of the Copa Liberatadores Virtual Assistant Referee (VAR). VAR sponsors have been growing in soccer, particularly because VAR can often be called in critical moments – meaning that brands can get exposure when fans are particularly invested in the game.
Crypto.com continues it’s all-out assault of market share in the sports sponsorship space, in a tight battle with the likes of FTX and Coinbase.
Related Reading | South Korea Postpones Crypto Tax, Looking For Votes?
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