Cryptocurrency and sport
Recently eToro, one of the world's leading currency exchange platforms, has signed an agreement with some English Premier League clubs for advertising purposes.
The agreement that has been regulated and paid by eToro using bitcoin is so far the largest partnership between crypto-companies and sports companies.
This is not surprising given that many cryptographic companies are rapidly getting on board the sports teams and the event sponsorship train. For example, Coindeal recently signed an advertising agreement with Wolverhampton Wanderers, where the team agreed to include the logo of their brand in the sleeves of the team shirt.
Some other teams have taken a more innovative approach to crypto-sporting partnerships by choosing to get paid with bitcoins or opt for their favorite tokens. One of these is the Sacramento Kings which has an ethereum mining team as a whole.
While 2018 was not a big year for the criptos – that with the downward trend and everything – it is nothing that we have not experienced in the past. In fact, if compared to the same four-year bearish trend in 2014, we can easily see that 2018 is still a bit better in terms of performance.
There is also another observation: the worst down years often see a lot of encrypted advertising in the sport to bring more customers. These years are often followed by a surprising uptrend that pushes the prices of the criptos to new highs.
To help monitor how much the advertising efforts of cryptographic projects in the sport sector have gone in previous years, we take a look at some previous partnerships and how they have helped the value and popularity of individual cryptocurrency.
Dogecoin and Jamaica's Bobsleigh Team for Sochi
Shortly before the 2014 Winter Olympics in Sochi, the Bobsleigh team of Jamaica did not have enough money to finance the trip. With the help of Dogecoin and fundraising activities, the team raised $ 30k in Dogecoin, and was able to participate in the Olympics and return.
While that may not have been a blatant advertising scheme, it has worked wonders for the reputation of cryptocurrency. In fact, at the moment, cryptography has come to appreciate the value.
Indeed, this singular act lent the coin some legitimacy, effectively separating it from many other questionable altcoins on the market. This partnership essentially revived the currency, making it vital and increasing its duration.
Dogecoin and Josh Wise & # 39; s NASCAR
After the successful harvest of funds for the Bobsled team of Jamaica, Dogecoin has developed the reputation of being the token associated with sporting events and sponsorships. As a result, the crypt was effective in another major sporting event: NASCAR.
More specifically, the token Reddit community was able to raise $ 55k in coins, which the community then used to sponsor a car of the preferred NASCAR driver, Josh Wise 98's car.
This was a big deal because NASCAR supporters and fans are worried about the riders, as they are the event's sponsors. You have important corporate brands such as Budweiser and Jack Daniels that sponsor cars, which gives them great publicity and brand awareness.
Having Dogecoin does the same sporting event as some of these big brands, it has completely exploded its popularity among cryptic and non-cryptic enthusiasts.
The main news, media and television stations have highlighted the car in news and media coverage. Naturally, the currency has seen an increase in value, even if temporary, in the weeks before the race, and shortly thereafter.
While the increase in the value of coins has not lasted so long, it has put the sign of cryptocurrency in the public conscience, with the effects that are still felt today.
St. Petersburg Bitcoin Bowl By Bitpay
Being one of the most important cryptocurrency trading platforms in the world, Bitpay has participated in the partnership game for sporting events sponsoring the renown of the Beef O & # 39; Brady Bowl as the St. Petersburg Bitcoin Bowl.
This partnership with ESPN has seen the stadium and its surroundings, lined with bitcoin-related tools like bitcoin ATMs, sellers accepting bitcoins, and so on. Unfortunately, the event initially planned to be a multi-year event ended up being an event of the past.
However, it made the exchange of Bitpay a big publicity, with registration numbers going on before the event. However, it is possible that the event did not actually generate the prolonged result that they expected to see as bitcoins and cryptocurrencies as a whole, not having achieved world acceptance as in 2017.
What's happening in 2018?
In addition to the aforementioned events sponsored by both eToro and Coindeal, there was not much in the way of partnership in cryptocurrency with sports events and companies.
It is possible that some things may still happen – after all we still have three months left to do. For now, however, we should wait for 2019 for any important news of partnership between sports entities and cryptocurrency companies.