3 Sports Teams with Endorsements by Crypto Companies

Cryptocurrency adoption has progressed greatly since the first cryptocurrency, Bitcoin, was introduced in 2009. This is in stark contrast to predictions from earlier about cryptocurrency, where the majority of people were convinced it was a bubble and were beyond skeptical about converting their money into this “pretend money.” 

While it has taken some time to get to this new reality, it did not happen in a vacuum. The proliferation of cryptocurrency we now see in the sports and sports betting market was made possible by several strategic collaborations between both the crypto and sports sectors. 

Crypto’s Role in iGaming

The intersection between sports and cryptocurrencies has grown a lot through the intermediary of the iGaming industry. From its ever-growing role in online gambling, crypto companies have been able to forge a synonymous role in the world of sports. Experts like Alexander Reed regularly compile lists of the top crypto sports betting sites around the world. 

These help sports betting enthusiasts find offshore online sportsbooks that offer competitive odds with fast and cheap withdrawals—plus the added perk of being able to place your bets with a range of accepted cryptocurrencies. It doesn’t end there, since you can now even buy sports merch using cryptocurrency. Much of this symbiotic relationship between cryptocurrency and sports is a result of their many famous and lucrative partnerships. Here’s a look at some of the most notable ones. 

1. Dallas Cowboys and Blockchain.com

Fans of crypto gambling will be well aware of Blockchain.com’s standing in the crypto community as it provides excellent crypto wallet services that can be used to access a host of crypto betting sites. The outfit has continued to set itself apart as a juggernaut of industry and dictated the pace when it entered into the first-ever NFL partnership, for an undisclosed amount, with the Dallas Cowboys in April 2022. 

This deal played a major part in the Dallas Cowboys’ Forbes ranking, which put it at the top of the 2023 rankings of the most valuable sports teams in the world. The agreement includes club space inside the AT&T stadium, branding, advertising including television and radio, social and digital integrations, and extensive signage in the stadium bowl. For the fans, it creates an avenue for them to easily access the Blockchain.com wallet, with plenty of offerings related to their favorite sports team available on it. 

2. New England Patriots and Chain

Many businesses are only just transitioning from Web 2 to Web 3 now that there have been marked increases in things like trust, transparency, and better data handling, among several other advantages on offer. The forward-thinking New England Patriots board already placed themselves ahead of the curve when they entered into a deal in September 2022 with leading Web3 software solutions company, Chain, and Kraft Sports + Entertainment. 

The multi-year agreement saw the Patriot Place, Gilette Stadium, New England Revolution—a soccer club in the MLS—and the New England Patriots name Chain as their official Web3 and Blockchain sponsor. Chain, on a mission to create a more unified economy with its advanced suite of Blockchain products and infrastructure, sees this partnership as an opportunity to usher the New England Patriots into the future, where fans can enjoy a unique web3 experience that transcends everything they are currently accustomed to. 

3. Manchester United and Tezos

England’s Red Devils need little introduction. Forbes considers them the second most valuable soccer team in the world, with a valuation of $6.55 billion, and BleacherReport considers them the number one most recognizable sports team in the world. It’s very clear who the winner is in this partnership, as there was an immediate bump in Tezos’ stock when the partnership was announced back in February 2022. 

Tezos, a blockchain service that rewards its users with its digital token, Tez or Tezzie (XTZ), has carved a market for itself by helping users launch and manage non-fungible token (NFT), decentralized finance (DeFi), and decentralized application (dApp) projects. This is not the company’s first rodeo into the world of sports, having entered prior deals with the New York Mets and Formula 1’s Mclaren racing team. 

The multi-year deal is supposed to cover the team’s training kit, and it’s valued at $27 million (£20 million) a year, 33% more than the club’s last training kit sponsorship agreement with AON, which was valued at $19 million (£15 million) per year. Alongside the yearly payments, Tezos is also expected to make donations to the United Foundation in its native currency, Tez.