While the sports and crypto news hasn’t been much over the past week, there are still some very interesting headlines.
Crypto and Sports News: Coinbase’s Latest Esports Partnership
Esports continues to be seen as an “endemic” category of partnerships for cryptocurrency platforms and exchanges. So far, Coinbase has worked with BIG, Evil Geniuses and the large eSports tournament organizer ESL Gaming.
Adding another dimension to the Coinbase belt as the exchange secured a deal with esports organization Team Liquid last week. Coinbase will attempt to integrate support for crypto payments into Team Liquid’s existing online marketplace. In addition, the commitment of fans and educational initiatives on new technologies are at the heart of the partnership.
Esports organizations have traditionally had a high level of sponsorship dependency in their revenue models. The best-known esports organizations like FaZe and 100 Thieves have been able to continue investing in content, giving them more opportunities to sell branded advertising in partnership deals. But other powerful organizations like TSM have also done their jobs successfully.
Meanwhile, cryptocurrency platforms and exchanges are showing an increasing ability to find the funding needed to close these deals. The aforementioned organization TSM secured a 10-year title deal for $ 200 million with FTX (which has already sponsored sports earlier this year) under a rights agreement. fit at this level in eSports.
Sports and Crypto News: Socios.com Breaks Into Two New Sports Industries: MLS & NFL
The NFL isn’t the most receptive league in the sport when it comes to engagement and interaction with cryptocurrencies. Old sports leagues can afford to be conservative, but in today’s changing landscape, how long will they wait for potential sponsorship income to become too irresistible?
Maybe not much longer. At the beginning of the year, many teams and individual athletes were exploring potential deals, new avenues for NFT projects, etc. However, by the time September hit, the noise was too much and the alliance was already over activities in principle. However, a new deal was closed this week that could signal a change.
Kraft Sports & Entertainment, the group that owns the NFL’s New England Patriots and the MLS’s New England Revolution, has signed an agreement with Socios.com. The move marks Socios.com’s first foray into both MLS and NFL. The league as a whole is well on its way to releasing the NFL’s league-wide NFT platform in partnership with Dapper Labs, due ahead of the Super Bowl in February.
The transaction increases Socios.com’s exposure to emerging industries in the US that are at the heart of the platform. The full scope of the deal with Kraft Sports & Entertainment is not yet known. As long as the game for money and NFT continues to grow, you can assume that crypto and blockchain technology will become a mainstay of the discussion about eSports and gaming.
Sports & Cryptocurrency News: Sports Team Fan Tokens Hit Big Exchanges?
Speaking of fan tokens, one of the largest crypto exchanges could start supporting fan tokens. Socios.com and Manchester City may have only just gained a foothold in the fan token space when the strong Binance exchange announced this week that they will be supporting Man City’s CITY token.
In Binance’s press release, the exchange announced that it would support trading CITY tokens using USDT, BNB, BTC and BUSD swaps. The exchange has also introduced support for the Ethereum Name Service ENS token. According to the announcement, the CITY token has almost doubled in a matter of hours and quickly rose from $ 14.50 to around $ 25.45. The token has since returned to Earth and is trading in the same price range ahead of the press release.
Could this move signal that more fan tokens are supported on Binance or other major exchanges? Binance’s commitment and interest in the sport continues to grow as the exchange secured a partnership with major Serie A club Lazio last month.
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