How 7 Premier League Teams Are Being Paid in Bitcoin for Sponsorships

eToro, an Israeli based online investment platform, has finalized a deal with 7 Premier Football Clubs — Cardiff City F.C., Brighton & Hove Albion F.C., Leicester City F.C., Newcastle United F.C., Southampton F.C., Tottenham Hotspur and Crystal Palace F.C. — to be the first brand to pay for sponsorships using Bitcoin.
eToro partnered with SportsQuake, a sports marketing agency, for strategic assistance and planning as they work to reinvent the football marketplace. eToro stated in a press release,
“[eToro] has entered new partnerships with seven Premier League football clubs for a range of sponsorship assets, including access to players, digital rights, tickets, LED perimeter boards and interview backdrop.”
In addition, SportQuake will also help eToro build a global campaign using various TV, social and digital exposures.
Iqbal V. Gandham, UK Managing Director at eToro stated:
“Today’s announcement is the first step on a long road to football fully embracing blockchain technology. The blockchain technology that underpins crypto currencies like bitcoin brings transparency, which we believe can improve the experience for everyone who love the ‘beautiful game,’ from fans being targeted by ticket touts, or a club negotiating a transfer, we believe blockchain will revolutionize the world of football.”
In regards to strategy, eToro and SportQuake thought it was essential to work with multiple clubs as opposed to just one. Such a decision would add diversity to their advertising, in addition to an increased potency within the marketplace.
According to eToro, blockchain technology and cryptocurrency will improve the world of not only football but sports in general. This technology can potentially solve problems with transparency and ticket advertising in addition to providing consumers with assurance when purchasing merchandise. Through its various partnerships, eToro also hopes to gain global exposure through various targeted marketing strategies, and utilizing sponsorship inventory from multiple teams is certainly a good start in accomplishing that goal. Furthermore, eToro believes that in the future, all goods will be tokenized. So it’s essential to be at the forefront of this transition.
However, as with any new endeavor, education is key, and this is no different in regards to football and the sporting world. Such industries need to see in real time how new technology develops and if it will be beneficial.
David Thomas, Commercial Director, Southampton F.C. stated,
“We are extremely pleased to be welcoming eToro as a club partner. We look forward to working with them and learning more about the potential that cryptocurrency and blockchain technology can have in football.”
What About Instant Sponsor?
Just as eToro is working to revolutionize the world of football using blockchain and Bitcoin, Instant Sponsor has created a premium sports marketplace that allows for sponsors to browse and buy global sponsorship opportunities. Through the use of blockchain technology and smart contracts, brands and rights holders can be assured that their transactions will be both efficient and cost-effective.
Brands can know take advantage of a diverse range of sponsorship opportunities similar to eToro. The only difference is that Instant Sponsor will allow a sponsor to deliver their brand to multiple sports, in different cities. This will truly be the most potent way to advertise your brand and create substantial brand awareness with a guaranteed return on investment.
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