Recently, influenced by foreign countries, Sports X Crypto (Sports X Virtual Currency) has been gaining momentum in Japan as well. We are interested in how virtual currency will be distributed in sports, not just as a trendy investment target.
The Sports Agency has also raised Fintech (a term coined by combining the words "Finance" and "Technology") as a "concept for making sports a growth industry. Fintech does not = Crypto, but it is part of virtual currency.
We looked first at the international movements that are being affected.
Cryptocurrency and blockchain technology in the sports industry is increasing fan engagement and revenue in ways unimaginable in a decade. We feel that this move has the potential to attract sponsors and capture new global markets.
1. Bitpay and st. petersburg bowl | (june 2014)
Bitpay, a U.S.-based crypto payments company, sponsored the ESPN event as its first cryptocurrency marketing effort. It continued, and the St. Petersburg Bowl, an annual college football game held in the United States, was its next sponsor. Bitpay itself was not branded with formal sponsorship, but the company paid to promote Bitcoin, and the event became known as the Bitcoin St. Petersburg Bowl.
2. Cash bets and Arsenal FC｜(January 2018)
Cryptocurrency sponsorships began to take off when, three years after the initial deal, Cashbet signed a sponsorship deal with Premier League club Arsenal. BitPay was certainly ahead of the rest. Not only did it usher in a sustained era of cryptocurrency sponsorships, it was also the first to involve a major global sports team. The deal was done to promote the launch of CashBet Coins, a cryptocurrency designed specifically for use on CashBet's online gambling platform.
3. TIXnGO with Lancashire Cricket Club｜ (February 2020)
Last year, TIXnGO partnered with Lancashire Cricket to offer a new blockchain mobile ticketing platform. Working with ticketing service provider SecuTix, they signed an agreement to activate secure mobile tickets for all domestic and international matches at Emirates Old Trafford in 2020. The goal was to create a unique encrypted ticket for smartphones that is traceable, eliminates the risk of counterfeit tickets, and simplifies the end-user ticket transfer and resale process.
4. eToro's association with several Premier League clubs｜ (August 2018)
Social trading platform eToro has patiently pulled through as a leader in connecting cryptocurrencies and sports. To promote crypto trading services, and cryptocurrency in general, eToro has partnered with not one, but seven English soccer top league teams. Notably, the transactions, estimated to be between 5 and 6 million pounds, were paid entirely in Bitcoin. The clubs partnered are Tottenham Hotspur, Brighton & Hove Albion, Cardiff City, Crystal Palace, Leicester City, Newcastle United, and Southampton.
5. Antpool and houston rockets | (september 2018)
This was the first major sponsorship from a non-currency
Antpool and its parent company, Bitmain, are involved in the manufacture of cryptocurrency mining equipment. Antpool's sponsorship of the National Basketball Association's (NBA) Houston Rockets Antpool's sponsorship of the National Basketball Association's (NBA) Houston Rockets was part of a major US$500 million investment the company made in Texas.
We will look into the situation of sports virtual currencies abroad a bit more in the next issue, so please subscribe again if you are interested. We look forward to hearing from you.