Crypto and blockchain firms are set to invest up to $5 billion in sports sponsorship by 2026, according to reports. This is a projected 778% growth since 2021.
There are up to eleven major companies who are spearheading the way for sports sponsorship deals over the next two years. The likes of Binance, Coinbase, Crypto.com, Blockchain.com and Tezos will all heavily feature.
Other firms such as Etoro, Bybit, Grayscale, BitMex, OKX, and Stake.com are all set to leave their mark as well. Crypto companies have made great strides in recent years and they are now set to boost their presence further.
North American and European sports teams/franchises and major sports leagues have all entertained Crypto/Blockchain firms sponsorship. Now, the idea is to push on and dominate globally.
Crypto And Blockchain Sponsorship In Sport
North America
In North America, Coinbase has sports sponsorship deals with the NBA, USA Basketball, WNBA and various Esports leagues. Grayscale has partnered with NFL team New York Giants.
The NBA and NHL have sports sponsorship deals with Crypto.com. They also have deals with the Miami Grand Prix and the former Staples Center.
Blockchain has a sponsorship with the Dallas Cowboys in the NFL. The New York Mets have a deal with Tezos. The world’s largest crypto casino and sportsbook, Stake.com are expected to make big moves in North America as well.
Europe/Rest Of World
The main area of focus in Europe has been with major soccer teams. Etoro are perhaps the biggest players currently. They have deals with Leicester City, Arsenal and Tottenham.
BitMex has aligned itself with Serie A side AC Milan. OKX works alongside English Premier League champions Manchester City.
In motorsport, Crypto.com has a strong presence in Formula 1. As does Bybit with the Red Bull Racing team. The McLaren Formula 1 team has a sponsorship deal with OKX.
Crypto Sponsorship – The Future
The future of Crypto and Blockchain sponsorship in sport is plain to see. It will continue to wager its strong presence and dominate for years to come. The expected $5 bn investment for the next two years is likely just the tip of the iceberg.
However, certain deals with soccer teams in Europe have failed in the past before they really got going. Various firms have encountered financial issues which meant they couldn’t keep up with payments. Nonetheless, the genuine big players who are striking new deals mean business.
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