FC Barcelona is considering Polkadot (DOT) as the official jersey sponsor

The sports sector has secured numerous cryptocurrency sponsorships over the past year. FC Barcelona could soon secure a crypto sponsorship if it picks Polkadot (DOT/USD) to be the official jersey sponsor for the football club.

FC Barcelona currently has two options: the Polkadot blockchain protocol and the streaming music platform Spotify.

Polkadot could soon secure a soccer deal

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

FC Barcelona’s jersey currently features a Rakuten logo. Rakuten is an e-commerce firm based in Japan. The deal between FC Barcelona and Rakuten is ending in July 2022, and there is a vacancy for a new sponsor for the club.

A recent announcement from the club noted that the Polkadot blockchain network was one of the options under consideration. The club noted that Polkadot was a blockchain that supported a high throughput. The Polkadot blockchain is expected to process one million transactions per second once it becomes fully operational.

Spotify is also being considered as an official sponsor for the club. The announcement notes that the two options will be thoroughly considered, and FC Barcelona will choose the one that aligns with its long-term goals.

“The club has decided to take things with patience to analyze in-depth each proposal in procures to reach the most profitable agreement on a long-term basis,” the announcement added.

This is not the first crypto deal for FC Barcelona. Last year, the club signed a partnership deal with the Ownix NFT marketplace. However, the deal was cancelled shortly after one of Ownix’s executives, Moshe Hogeg, was arrested for fraud and sexual assault.

Crypto sports sponsorships

The cryptocurrency market has been venturing into the sports sector to boost brand awareness. This year has already seen several sports deals secured by some leading crypto firms.

Earlier this month, Binance, the world’s largest cryptocurrency exchange platform, signed a deal with the Confederation of African Football to be the official cryptocurrency exchange platform for AFCON games.

Last October, the NBA signed a deal with the Coinbase exchange, where the latter became the exclusive cryptocurrency sponsor for the NBA. The FTX exchange has also signed several sports deals, including the Major League Baseball.