Crypto sponsorships have made a significant impact in recent years. It has been announced that the crypto company XBTO will no longer be the main sponsor of Messi’s Inter Miami CF jerseys, marking the end of a partnership that seemed to last for about 3 years.
The Sponsorship Was Not the First
It was revealed that Royal Caribbean Cruises Ltd. will take over as the main sponsor of Messi’s Inter Miami CF jerseys from the crypto investment firm XBTO starting the 2024 season, indicating the company’s decision for the future.
Looking back, the sponsorship agreement lasted for a period of 3 years. XBTO, perhaps in a forward-thinking move, had signed a multi-year contract with the team in 2021, long before Messi’s transfer to Miami.
Looking back, it is evident that football sponsorships were not a new practice for crypto companies. There is also curiosity about the contributions these types of sponsorships bring to the companies.
Considering football is one of the most-watched sports globally, such sponsorships can be seen as a good choice for increasing brand awareness.
These initiatives not only increase visibility and contribute to fame but also have the potential to attract potential customers, enabling direct connection with a target audience.
Specifically for XBTO, every moment Messi is on the field, fans will see a prominent crypto currency sponsorship logo on his chest while following the player, who is considered by some to be the greatest footballer in the world.
The Future of Sports and Cryptocurrency
Looking back, sponsorship deals involving cryptocurrencies and exchanges were common in the sports world. It has been announced that eighteen of the twenty English Premier League teams have an official cryptocurrency partner this season.
Considering the impact of sports on people, these moves can be seen as quite sensible. An increase in crypto-related sponsorships in sports in the future could enable them to reach a broader audience.
Crypto sponsorships are not limited to just football. Looking back, events such as the Super Bowl in American football, NBA basketball arena sponsorships, and Formula 1 car livery sponsorships are examples of this.
