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While the bear market has hit risky markets for months, partnerships between sports and cryptocurrency players have not run out. But if the major players in the cryptocurrency world want to make a name for themselves in sports, it’s mainly because the two target groups are fairly homogeneous.
Multiple collaborations between two kingdoms!
Everyone remembers the break from the last Super Bowl. On the occasion of this global event, Coinbase did not hesitate to buy two 30-second spots to distribute the QR code on the go. No text or sound. Amount of the transaction? Almost 14 million dollars. An announcement that also caused controversy as it simply caused the Coinbase app to crash during the meeting. For its part, the FTX platform has also bet on the Super Bowl by offering a Bitcoin earning game.
But in this little affiliate game, we have to bow to Crypto.com. The Singapore-based cryptocurrency exchange run by Chris Marszalek has been expanding partnerships for months now. The platform also participated in the most recent Super Bowl and paid for the naming of a Los Angeles basketball gym formerly known as the Staples Center. The NBA Lakers team will now play their home games in the Crypto.com arena.
The exchange is also present in Formula 1, since since last season it has sponsored the qualifying sessions in sprint format. Crypto.com also has a partnership with the Aston Martin team and also offers a title for the United States Grand Prix for a period of 9 years. The platform has also evolved in martial arts, mainly thanks to collaborations with the UFC.
According to Nielsen Sport, The investment of cryptocurrency players in the world of esports would double between 2020 and 2021. According to some reports, by 2026, sponsorship deals between cryptocurrency players and the sports world could amount to more than $ 5 billion.
Fan token: a symbol of the convergence of sports and cryptography!
When it comes to the links between cryptocurrency and eSports, it’s hard not to mention token fans. These tokens were actually awarded during the initial restrictions, allowing fans to swear allegiance and your engagement to your favorite teams. With these tokens, fans can enjoy exclusive perks such as player matches, autographed jerseys, choice of captain’s armband color or even musical accompaniment to their team on the pitch or on the pitch.
In the case of clubs, fan tokens now receive a positive rating due to the possibility Diversification of income streams what they offer. During the various lockdowns, in fact, the sports clubs suffered from the impossibility of filling the stadiums. For many clubs that are (too) dependent on ticket revenues, these various blockages or restrictions have been particularly worrying from an economic point of view.
The success of this ecosystem is symbolized by the Socios.com platform and its Chiliz (CHZ) token. But given the success, other big players in the cryptocurrency universe have also taken off. This is especially true of the Binance exchange, which has launched several tokens for sports enthusiasts. Introduction of fan tokens through Binance Launchpad all have been successful. Today, 3 of the top 5 fan token projects by capitalization have been launched from the Binance platform.
Where token fans were often limited to football, they are now used in many sports. For example, Formula 1, tennis, baseball or even MMA. Chiliz is expected to continue its expansion in the coming months and establish a long-term presence in the US market.
Sports and cryptocurrency: the same audience!
Several polls show that these two audiences are often confused. In fact, the sports fan tends to be more cryptophile than the average. For example, a study by Morning Consult last year found that 66% of sports fans say they are “familiar with digital assets”. In the case of gamers, this number has even crossed the 70 percent mark. For some bookmakers, the issue of offering digital assets as a means of deposit has been relevant for several years. For other markets, this problem appears to be much more recent.
The same study published last year found that sports enthusiasts are twice as likely to be aware of digital assets than the rest of the population. No wonder brands are trying to position themselves in this market.
Sport and crypto: new releases?
Many athletes also participate launch of NFT collections. Last February, the French driver Sebastien Loeb took the big step. Either way, a sharp drop in sales doesn’t seem to be stopping athletes.
Today the link between sport and cryptography finds a new expression. To do this, start Sorare platform significantly changed the game. Since then, Play to Earn has inspired other projects such as Battle Infinity, which aims to create a league-like fantasy universe where players compete against each other. Players represented as NFT. But the solution doesn’t stop there and is meant for long-term use in the metaverse.
The project’s IBAT token is currently available for presale. At the price of 1 BNB = 166,666 IBAT. The presale will continue for another 78 days. However, this period can be shortened if the hard cap of 16,500 BNB is exceeded before expiration. Almost 20% of the tokens have already been sold. If sales continue at this rate, all tokens could find a buyer by mid-September. Note that the tokenomics of the project foresees the sale of 28% of the total number of tokens during this presale.
Read also: White paper of the Battle Infinity project!