One of the latest marketing trends in the sports industry is the fusion of cryptocurrencies and sports gaming. More recently, sports brands have been collaborating with cryptocurrency exchanges and blockchain companies to drive adoption and create new revenue channels.
From the EPL to the UFC, MLB, and F1 racing, there are multi-billion dollar crypto investments that make sports deals. The crypto deals with sports teams are relatively new but can be traced to the growing popularity of cryptocurrencies like Bitcoin, Dogecoin, and Ethereum.
This article highlights the most valuable partnerships between sports teams and crypto sponsors worldwide.
Which Sports Attract Major Crypto Deals?
Before we go into the details of the best sports and crypto partnerships, let’s take a look at the sports that are attracting crypto companies, communities, and investments.
Football (Soccer)
No sport lights up the world like soccer. The beautiful game connects billions of people worldwide who root for various national and club teams across diverse competitions.
In Europe alone, there are numerous leagues, including the EPL, La Liga, Bundesliga, and Serie A. There are also continental tournaments like the UEFA Champions League, Europa League, and the Europa Conference League that connect the best teams from each domestic league.
Moreover, the FIFA World Cup and Olympic Games set the world on fire with exciting matches among national teams. Crypto companies recognize these opportunities, so they create environments for sports lovers and bettors to enjoy gaming opportunities.
They also partner with reputable sports brands to drive awareness, build brand credibility, and attract potential customers. Some of these companies also enter individual player deals with the biggest players.
For instance, Binance signed Cristiano Ronaldo in 2023, and Messi signed a deal with Socios, a fan token exchange platform, in 2022.
Basketball
If you’re American, you probably believe basketball is the world’s biggest sport. The average American believes no sport trumps b-ball because of its massive cultural roots and presence in the country.
From the NBA to the WNBA, WABA, ABA, and the MBL, numerous basketballing competitions rock every corner of the country. These leagues also feature big teams like the LA Lakers, LA Clippers, Chicago Bulls, Boston Celtics, and Philadelphia 76ers.
The diverse opportunities ushered in crypto companies during the 2021 bull run as they sought alternative marketing and awareness channels. Moreover, crypto casino sites leverage the awareness to attract bettors who prefer to gamble using crypto assets.
American Football
Heard of the Super Bowl? That’s arguably America’s biggest entertainment and sports event. The event is one of American football’s biggest attractions, racking up millions of dollars in ticket sales and other revenues.
But the Super Bowl isn’t all there is to American football. The national sports game features various matches across qualified teams all season long. These include the National Football League (NFL) teams like the Chicago Bears, Houston Texans, and Green Bay Packers.
The sport showcases various crypto brands in the US and beyond. For instance, some clubs wear helmets with the names of crypto brands. Some teams also allow prominent people from their sponsor crypto brands to toss the game coin.
F1 Racing
Formula 1 also has popular teams that have embraced the cryptocurrency sponsorship model. Teams like McLaren Racing, Alpine Benefits, and Haas receive sponsorship funds from Tezos, Binance, and OpenSea.
Brands like BWT Alpine F1 have also launched their crypto fan tokens in collaboration with crypto exchanges like Binance. The token is tradeable on the platform, offering fans a sense of ownership and alternative investment opportunities.
The Biggest Crypto and Sports Partnership Deals
Here, we reveal the highest-valued teams worldwide that have obtained sponsorships from crypto companies.
1. Dallas Cowboys and Blockchain.com
According to Forbes, the Dallas Cowboys franchise is valued at $9 billion, making it the most valuable team in the world. The NFL team struck a deal with Blockchain.com, a reputable crypto trading platform, in 2022.
The groundbreaking deal was the first in the NFL at the time, but the amount was undisclosed. The deal covered branding, advertising, content, and stadium signage ads.
2. New York Yankees and NYDIG
The New York Yankees is valued at $7.1 billion, and the MLB team partnered with NYDIG in 2022. The deal was to create an avenue for the club’s employees to earn in Bitcoin, making the company the first MLB team to pay its employees using the cryptocurrency.
The value of the multi-year partnership deal that saw NYDIG become the New York Yankees’ Bitcoin payroll partner was undisclosed, but it paved the way for other crypto partnerships in the MLB.
3. Golden State Warriors and FTX
Valued at $7 billion, Golden State Warriors is another leading sports brand in the US. The American basketball brand signed a deal with the defunct FTX Exchange in 2021. The mega deal was worth $10 million, which was paid for global rights. However, the deal fell through after FTX went bankrupt.
4. New England Patriots and Chain
The New England Patriots sports company is valued at $7 billion by Forbes. The sports franchise is another big name in the NFL with a crypto deal. In 2022, the New England Patriots signed a deal with Chain, a Web3 software solutions company.
The deal also extended to New England Revolution, a soccer team that shares the same Gillette Stadium with the Patriots.
5. Manchester United and Tezos
Manchester United is valued at $6.55 billion according to Forbes’ 2024 soccer team rankings, and the Red Devils have one of the biggest crypto deals in the sports industry. In 2022, Manchester United announced a multi-year deal worth 20 million. The deal saw Tezos, a blockchain platform, become United’s first team’s training kit sponsor.
Conclusion
Crypto sponsorships in sports are relatively new, but they have paved the way for cryptocurrency brands and sports businesses to leverage each other’s platforms for publicity and revenue generation.
The commercial relationships also help crypto and sports enthusiasts find a world where they fit in and can explore diverse opportunities. Moreover, crypto users and sports bettors can get a slice of both worlds.
As more partnerships happen, the crypto industry can continue boosting mass adoption by giving fans more reasons to plug into the sector.
