For more than 25 years, the logo of Italian tire manufacturer Pirelli has graced the shirts of Serie A soccer champions Inter Milan. However, this season, Inter’s striped shirts are now encrypted. With the expansion of cryptocurrency and blockchain innovation, the organizations behind the early business are progressively turning to sports sponsorships to speed up their recognition and adoption. Cryptocurrency exchanges and other related businesses are the new sports team sponsors around the world.
European soccer clubs are moving toward a path that can’t be disregarded, with revenue of $10.5 billion. According to EUFA, the pandemic found some kind of harmony between disrupted game schedules and games with no fan presence. The UK wants to do away with gambling sponsorships of teams, which is ushering in a new era of shirt sponsors through the cryptocurrency space.
Cryptocurrency organizations that profit from the rising worth of Bitcoin and other digital currencies continue to close the gap. Inter Milan shirts now boast cryptocurrency exchange Socios.com for private money-related exchanges. Sports and cryptocurrency leaders acknowledge that such sponsorships are becoming more popular and are now worth 7-8 digits per year.
However, there are questions about what a manageable cryptocurrency exchange will resemble over the course of time. For instance, a few exchanges are developing quickly prior to losing to new contenders or having to deal with theft or fraud. Still, Inter Milan is just one of a progression of teams, including local adversaries AC Milan and Juventus, Spain’s FC Barcelona, England’s Arsenal and Manchester City, that are embracing the future of cryptocurrency.