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Cryptocurrencies also reach the world of football

11 August 2021
- Di
Alessia Petrucci
Tempo di lettura: 2 minuti

CRIPTOVALUTE CALCIO - From the NBA to football there are many sports fields that have discovered the monetary charges that can be derived from sponsorships from the world of digital tokens. Cryptocurrencies and NFT are increasingly present in companies' payroll in the form of partnerships and now they begin to see even in the shirts of the teams themselves. This is what happened for example between Milan and Bitmex, but I do not constitute the first cryptocurrency and football collaboration.

What are cryptocurrencies and Nfts

The digital transaction is an increasingly concrete reality that with the pandemic from Covid has undergone a strong surge. Practically everything now has its digital counterpart. Even coins and art are not far behind. We are talking about cryptocurrencies and NFT.

Non-fungible tokens (NFT - "Non Fungible Tokens") are digital goods. They represent a wide range of unique, tangible and intangible objects. Unlike regular cryptocurrencies, Nfts cannot be exchanged directly between them. This is because there are no two identical Nfts - even those that exist on the same platform, game or in the same collection. NBA Top Shot is one of the main markets of non fungible tokens, product of Dapper Labs. It gained fame a few years ago with Cryptokitties and brought up the trend of basketball trading cards to digital. The relationship with the NBA and its notoriety has helped make the NFT even more popular.

Cryptocurrencies are a digital representation of value based on cryptography. Put in simpler terms, they are nothing more than virtual currencies managed by a shared and immutable data structure, called blockchain. Unlike the NFT, the crypts owe their success to the support of the visionary Elon Musk who first believed in the project. Today the inventor of Tesla has retracted his confidence, recognizing in the blockchain a revolutionary technology, but still not sustainable.

NFT for Nba, Cryptocurrencies for football

If the Nfts have conquered the Nba market, cryptocurrencies are imposing themselves on the football market. Milan recently announced the first sponsor for the sleeve of their shirts. It is Bitmex, the leading platform for derivative cryptos, known especially for the creation of Perpetual Swap, the most traded derivative crypto of all time.

"As part of the partnership, the Bitmex brand will be visible on the sleeve of the official male and female team in all competitions, including the UEFA Champions League, and on the sleeve of the rossoneri esports team, AQM, scoring another world premiere for the club."

This is part of the official communiqué issued by Milan. The agreement between Milan and cryptocurrencies is not the first that takes place in the world of football and according to La Gazzetta dello Sport not even the most fruitful. In fact, the contract from Bitmex and Milan provides for 3 to 4 million a year, while the one between Rome and Digitalbits 12 million. However, the sponsorship contract between Inter and Socios was worth $20 million. Socios also introduced cryptocurrencies into football by entering into agreements with about fifty other teams in order to promote fan tokens. These digital coins allow individual fans to gain special privileges to have a say in certain decisions of the teams.

The proceeds generated by Socios were around $200 million in 2021. This shows how much cryptocurrencies can benefit from football and vice versa. In fact, for some years now, even the NFT have been entering this world that recognizes its usefulness thanks to the example of the NBA.

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