Crypto Companies Buy The Future of Sports

Cryptocurrency companies continue to actively penetrate the world of sports, transforming its marketing and creating new opportunities for fan engagement. Holiverse, Binance, Crypto.com, Bybit and OKX are digital finance giants that spend millions of dollars on sponsorship of football clubs, motor racing teams, basketball teams, and esports organizations. Read the article for a detailed overview of companies and investments in sports.

Crypto giants on the football field

Cryptocurrency companies keep on entering the world of big football, seeking to win the hearts of fans and strengthen their positions on the world stage. A striking example is Binance, the largest crypto exchange, which has closed several high-profile deals at once. They became partners of the Argentina national team, the Porto football club and the Italian Lazio. With latter Binance went even furthеr: in addition to sponsorship, they launched the fan tokens that allow fans to influence the club’s decisions and be closer to their team.

Research conducted by Socios.com and Chiliz platforms showed that fan tokens lead to increased user engagement in club activities. According to their data, over the past two years, more than 1.2 million users worldwide have purchased fan tokens, which allowed them to participate in votes and surveys regarding important club decisions. For example, FC Barcelona token holders had the opportunity to choose the design of the coaching locker room, which created a sense of involvement with the team and generated new interest in the club’s initiatives.

Crypto сompanies and sports clubs that collaborate with fan token platforms have earned millions of dollars from the issuance and sale of such assets. For example, in 2020, Juventus earned about $ 5 million from the launch of its tokens alone. These funds were used to develop the club’s infrastructure, fan initiatives, and marketing projects. In the context of a decrease in revenue from traditional sources (for example, due to the pandemic), fan tokens have become an important tool for diversifying revenue.

On the other hand, not all fans perceive fan tokens positively. Some of them believe that such initiatives turn fan loyalty into paid “services” and see this as a tool for monetization by clubs and crypto companies. According to the research by The Guardian, some users do not see long-term value in tokens unless they provide real benefits to the fans.

New horizons of basketball

Holiverse, a Metaverse led by Ladо Okhotnikov, is opening up new possibilities for the basketball world, especially in the 3×3 format. Their collaboration with Serbian team Partizan 3×3 has gone beyond a simple sponsorship deal. Project got so integrated into the club that the team even changed its name, demonstrating a strategic partnership. This highlights Holiverse’s commitment to promoting basketball through modern technologies, including blockchain and NFTs, creating new forms of interaction with fans.

Crypto speed in motorsports and esports

The interest in crypto cooperation in motorsports is also growing. Formula 1 teams, like Red Bull Racing, due to its partnership with Bybit and launch of its fan tokens, as well as increased engagement with their fan base through virtual events and exclusive activities. In 2022, the total amount of sponsorship deals with crypto companies in Formula 1 exceeded $100 million, highlighting the commercial value of such initiatives.

Esports has become one of the most promising areas for crypto companies, and the data confirms this trend. According to a study by Esports Insider, about 45% of esports’ fans aged 18-34 believe that the integration of cryptocurrency and blockchain technology has a positive impact on their fan experience. This is shown in the launch of fan tokens, NFT collectibles, and the creation of virtual platforms where fans can interact directly with teams and participate in virtual activities.

Bybit actively supports leading teams such as Natus Vincere, Astralis and MIBR, offering fans digital opportunities for engagement through fan tokens. OKX collaborates with McLaren Shadow, merging the virtual and real worlds of motorsports, demonstrating boundless possibilities for engagement. These initiatives show that crypto companies are not just “following the trend”, but are actively changing the approach to fandom, influencing fan behavior and expanding the forms of interaction with the esports audience.

New possibilities and the future of the sports marketing

The cryptocurrency revolution in sports is changing not only the methods of sponsorship, but also the fan culture. Fan tokens, NFT collections, virtual teams are forming a new reality, where digital assets become an integral part of the sports experience. Such crypto companies as Holiverse are not just advertising their services, but also creating new models of interaction between sports and fans, opening the door to the future where there are almost no boundaries between the real and digital worlds.

Dan Michael

Holiverse press center

[email protected]

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