Category: Sports

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Crypto Art Crypto News NFTs Sports

Liverpool FC Launches NFT Collection Dubbed ‘LFC Heroes Club’

Following the lead of Manchester City, Barcelona and Paris Saint Germain, Liverpool is the latest major football club to launch its own collection of non-fungible tokens (NFTs).

The LFC Heroes Club – launched in partnership with Sotheby’s Metaverse – features generative imagery of each of its 24 players in what the club says is an “innovative way to celebrate being an LFC fan from anywhere in the world”.

Better Reds than dead: LFC Heroes Club NFT. Source: liverpoolfc.com

‘Lower’ Price Points From $75 Per NFT

The collection will also feature 24 “Legendary” one-of-one editions, one for each player, to be auctioned off individually on March 30. The remaining NFTs will be sold at lower price points (from US$75) in a move the club hopes will make them accessible to its broader fan base.

The LFC collectibles will be available to purchase across a three-day sale window from Wednesday, March 30 to Friday, April 1. Half of the proceeds will go to the LFC Foundation, in addition to 10 percent from the ‘Heroes’ sale and all future resale royalties.

Backlash Begins Within Minutes

Within minutes of the NFT news breaking, however, disgruntled Liverpool supporters took to Twitter to air their misgivings:

Backroom Sports Deals Linking NFTs and Fan Tokens

When FC Barcelona announced its NFT auction in November last year, some claimed it was a desperate measure to offset the club’s US$1.56 billion debt crisis. The move was seen as part of a fire sale that resulted in star player Lionel Messi leaving the club to join Paris Saint Germain, which in itself saw PSG’s token price surge 50 percent. Messi was reportedly paid US$35 million in $PSG fan tokens as part of the transfer deal, and went on to launch his own NFT collection.

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Crypto News Crypto.com Sports

Crypto.com is Official Crypto Sponsor for 2022 FIFA World Cup

Cryptocurrency exchange Crypto.com will become an official sponsor of the FIFA World Cup Qatar 2022, both organisations announced in a joint statement this week.

While trading cryptocurrencies in Qatar is illegal – it’s banned by the country’s central bank – Crypto.com said the partnership would help drive further awareness of the exchange globally, as the FIFA World Cup is football’s largest governing body and brings over a billion views in each tournament.

The deal also highly benefits FIFA as it will help it grow on a global scale, said its chief commercial officer Kay Madati, citing Crypto.com’s recent related moves in the world of sports:

We are delighted to have a global brand like Crypto.com join us as a sponsor of the exciting and groundbreaking FIFA World Cup in Qatar, ultimately helping to grow our beautiful game on a global scale.

As part of the sponsorship deal, Crypto.com users will be able to attend matches and win exclusive merchandise.

Big Moves by Crypto Companies

Of course, the crypto community viewed the sponsorship as a major move by the exchange. Several crypto institutions are actively gaining ground in the mainstream media, signing partnerships with major organisations and becoming official sponsors of international tournaments:

Last month, Brisbane-based exchange Swyftx made sporting history by inking a three-year partnership with Australia’s National Rugby League (NRL) to become its exclusive crypto partner.

In addition, the Australian Football League (AFL) recently signed an A$25 million sponsorship deal with Crypto.com, eclipsing its current deal with Toyota (worth A$18.5 million.)

Crypto.com has been actively working in expanding its reach worldwide with numerous partnerships in the sports industry. In July 2021 it became the first crypto sponsor of the largest mixed martial arts promoter, the UFC, in a US$175 million deal.

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Banking Industries Metaverse Sports The Sandbox

$3 Trillion Financial Services Giant HSBC Enters the Metaverse with Sandbox

One of the world’s largest banking and financial services organisations – with assets worth US$2,958 billion as at December 31, 2021 – has bought space in the metaverse. HSBC aims to take sports engagements to the next level by buying plots of LAND in The Sandbox (SAND) and dedicating it to esports and gaming enthusiasts.

According to a blog post from Sandbox, the banking giant will be purchasing a considerable amount of LAND in the metaverse to create a space where esports and gaming enthusiasts can connect.

HSBC plot of LAND. Source: Medium

Sandbox hopes this will open the doors for other institutions to join the metaverse as a new platform to reach out and create better-gamified offerings. HSBC joins over 200 existing partnerships including Gucci, Warner Music Group, Ubisoft, The Walking Dead, Snoop Dogg and Adidas, among some other big names.

Through our partnership with The Sandbox we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers. We’re excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive and accessible.

Suresh Balaji, chief marketing officer, Asia-Pacific, HSBC

With the metaverse market forecast to grow from US$45.4 billion in 2019 to a staggering US$1.5 trillion in 2030, according to PWC, other institutions are trying to find their niche in the metaverse.

SAND Token Spikes After News

The native SAND token from the Sandbox project saw a spike up from the US$2.80 zone where it has been ranging for the past few days. At the time of writing the coin had gone up to US$3.21, a near 15 per cent increase. However, the coin is still 65 per cent down from its all-time high in November.

SAND/USDT price. Source: CoinMarketCap

HSBC Bans Binance Crypto Purchases

To some extent, HSBC still has its reservations toward crypto. Since August 2021, the bank has suspended payments to Binance and has also barred its clients from investing in stocks of companies that hold bitcoin, such as Microstrategy or Block:

In early 2021 the bank said it had “no plans to launch a cryptocurrency trading desk” or offer cryptocurrencies as investments to customers, Reuters reported.

As the adoption of crypto steadily increases, more and more large institutions are opting to embrace it. In November 2021, ING, the Dutch financial service giant – with US$1 trillion under management – started looking into DeFi, while Australia’s CBA is also supporting crypto purchases, making it the first bank down under to do so.

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Crypto News OKX Sports

Premier League Champs Man City Sign Multimillion Dollar Deal With OKX Exchange

Current English Premier League titleholders Manchester City have announced a multimillion-dollar deal with the world’s second-largest exchange by spot volume, OKX.

Manchester Embraces Crypto

Thus far in 2022, we’ve seen several crypto-related announcements emanating from England’s second-largest city, including the champion football team’s development of its own Etihad stadium in the metaverse. This followed news that cross-town rivals Manchester United had last month inked a deal with Tezos for a reported US$27 million.

Kevin de Bruyne in this weekend’s win over Manchester United. Source: The Guardian

We are pleased to welcome OKX as an Official Partner of Manchester City today as they look to venture into the world of sports. The new partnership aligns our shared values of innovation, drive for success and being at the cutting edge of our respective industries. Their broad and inclusive approach to targeting diverse audiences resonates with our approach. We look forward to working together throughout the partnership.

Roel De Vries, chief operating officer, Manchester City Football Group

The sponsorship announcement by Manchester City represents OKX’s first foray into the world of sport and entertainment, with the official press release reporting that the partnership will include both the men’s and women’s teams, as well as the club’s esports operations.  

OKX Has a Userbase of 20m+ in 180+ Markets

OKX enjoys a userbase of over 20 million people in more than 180 markets, making it one of the world’s biggest crypto exchanges. In its official announcement of the partnership, when asked “Why Manchester City”, OKX noted that:

Neither our team nor Manchester City is a stranger to fierce competition. We both know firsthand the challenges that present themselves on the way to the top. With closely aligned values, we’re excited to field our new partner’s colours as they take on English and European football’s elite.  

OKX announcement

As part of the deal, OKX’s global customer base will apparently enjoy access to exclusive experiences at Etihad, as well as future innovation projects. Jay Hao, CEO of OKX, cited inclusion and community as being core to the partnership, adding:

Football and crypto share something important: they are for everyone, they create inclusivity within society. We [OKX] are entering the Premier League for the first time as City’s official crypto partner to celebrate this community spirit in the world of football because it’s something we both share.

Jay Hao, CEO, OKX

Whatever one’s thoughts on Manchester City or OKX, one thing is undeniable – digital assets are increasingly crossing the chasm into the mainstream. Billions of eyeballs tune in for Premier League fixtures each week and sponsorships such as this serve only to accelerate the inevitable process of mainstream adoption.

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Crypto News Metaverse NFTs Sports

Puma Enters Web3: Renamed Puma.eth on Twitter and Partners with Cat-Themed NFTs

Having bought a decentralised .eth URL from the Ethereum Name Service (ENS), Puma has duly followed rival sports brands Nike and Adidas into the metaverse. As a full signal of intent, it has even renamed itself puma.eth on Twitter.

Puma’s new Twitter profile

Puma Partners With Gutter Cat Gang … More to Come?

Fuelling rumours of associated partnerships, Puma has also purchased a catalogue of cat-related NFTs, which include Cool Cat #32 (bought for 14 ETH, roughly US$36,000 at the time of writing); a Gutter Cat worth about US$20,000; a pair of pudgy pussies from the CatBlox Genesis collection, and a Lazy Lion.

As for the German multinational’s move into the metaverse, the company is looking to hire a “Digital Culture Manager” and an associate creative director, both positions listing knowledge of the metaverse as a prerequisite. As the ad on Puma’s website specifies, candidates are required to have an “understanding of web3 including NFTs, gaming, metaverse, cryptocurrencies, and DAOs”.

Puma Debuts at #13 on the .ETH Leaderboard

At the time of writing, Puma ranks 13th on the .eth Leaderboard, which lists the most followed Twitter accounts with .eth names. Leading the pack are parishilton.eth and shaq.eth, owned by socialite heiress Paris Hilton and former NBA star Shaquille O’Neal, respectively.

Besides Puma, another major corporation sporting an .eth domain is beer brand Budweiser, which bought the Beer.eth domain name for 30 ETH (around US$100,000 at the time) in August last year.

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Press Release Sports

NRL Melbourne Storm Announced a Partnership with Cointree Crypto Exchange

Melbourne Storm today announced a new three-year partnership with one of Australia’s premier cryptocurrency exchanges, Cointree.

Storm CEO Justin Rodski said the multimillion-dollar partnership would see Cointree occupy the sternum of the player training shirts for the remainder of the 2022 season and relocating to front and back of the playing shorts for the 2023 and 2024 seasons.

“We are thrilled to welcome Melbourne based crypto exchange platform, Cointree, to the Melbourne Storm family,” Rodski said.

“It was important we found a cryptocurrency partner who aligned with our values and the future direction of our club.

“Cointree has a genuine commitment to supporting education and learning as part of their platform, and we are really excited to be partnering with the Cointree team as we begin this exciting journey together.

“We have been looking to diversify our partnerships in the last 12 months and find new opportunities for our members and fans to engage with the club and our partners.

“Our partners have been extremely loyal over the last two years and to have new partners, like Cointree, join our family gives us great confidence heading into the next few years.”

To celebrate the partnership announcement, Storm fans will be given the opportunity to win $1500 in cryptocurrency favoured by players Ryan Papenhuyzen, Jahrome Hughes and Chris Lewis.

Fans simply need to enter their details here to win.

Rodski said the partnership with Cointree will provide an opportunity to help educate a broader audience about cryptocurrency, finance and investing.

Cointree Chief Operating Officer Jess Renden said: “We are excited to not only see the Cointree logo running out on the field over the next three seasons, but to work with the entire Melbourne Storm community, increasing their knowledge and education on the digital asset fast becoming a popular mainstream investment.

“We’re one of Australia’s first crypto exchanges and were the first to introduce a dedicated crypto learning hub, as we knew education would play a vital part in moving the industry forward, so it’s fantastic to now be working with a club who values education as much as we do.

“We’re thrilled to be a Storm partner and for what’s to come.”

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Metaverse Sports

Man City Football Club to Build Etihad Stadium in the Metaverse

English Premier League champions Manchester City has partnered with Sony to bring its home ground, Etihad Stadium, to the metaverse. The project has begun construction and will allow the football club to offer new digital experiences to fans through the “cutting-edge” virtual venture.

Etihad Stadium, home to Man City FC since 2003, has begun its virtual recreation. The replica will be the team’s central hub and the first football stadium to move into the metaverse.

To complete the project, Man City has signed a three-year contract with Sony Group Corporation. Image analysis and skeletal tracking technology will assist specialists in the stadium’s construction. The first-of-its-kind venture will remove geographic barriers for fans outside England who wish to fully experience a live-recorded match.

Metaverse Stadium to Show Action From All Angles 

The goal of the metaverse stadium is to allow fans to watch games live and to see all the action from multiple perspectives. The project seeks to demonstrate the club’s commitment to the sports entertainment business.  

Following in the Footsteps of United

The Manchester football scene has been diving headfirst into the world of crypto and the metaverse, with City’s crosstown rivals Manchester United making some big moves this year. Man U announced a US$27 million partnership with Tezos earlier this month, allowing the blockchain company centre placement on the team’s training kit.

A group of former United legends has also come together to launch a sports-focused DAO. Paul Scholes, Ryan Giggs and Gary Neville are working to allow fans to invest in professional football via their decentralised autonomous organisation (DAO). The project will honour the Red Devils’ class of ’92.

By Lauren Claxton, Crypto News Guest Author

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ConstitutionDAO Events Sports

‘BuytheBroncos DAO’ is Aiming to Buy NFL Team Denver Broncos for $4 Billion

In attempting to buy the US Constitution and an island in the Caribbean, DAOs (decentralised autonomous organisations) have been raising massive amounts of money in order to spend big. In the most recent of exuberant potential purchases, a DAO is now trying to buy National Football League (NFL) team the Denver Broncos.

DAO is the newest buzzword in the crypto world, and refers to a group of people who come together to raise funds for a common mission – in this case, BuytheBroncos needs US$4 billion to buy the the Denver Broncos.

We know it sounds a bit crazy, but it’s also a bit Badass.

Sean O’Brien, BuytheBroncos DAO

BuytheBroncos DAO frontman Sean O’Brien says that “the purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos”.

Politics Gets Involved

What sets this DAO apart from its precedents is that it has political support. The Governor of Colorado, Jared Polis, told CNBC at last weekend’s ETHDenver event that he would be “excited” to be part of the DAO’s ambitions:

“The challenge will be it’ll take a lot of money 
 but you know what, if your imagination is big enough, then it can happen. And anything I can do to make it happen, I’d be happy to.”

DAOs With Grand Ambitions

Besides this current attempt to purchase an NFL team, DAOs have already featured in the world of sport. Earlier this month, a group of former Manchester United superstars launched a sports-focused DAO to allow fans to invest in professional football projects alongside them.

In a completely different vein, late last year, the ConstitutionDAO tried to purchase a copy of the US Constitution at a Sotheby’s auction but were ultimately outbid by former Citadel CEO Ken Griffin. The DAO still managed to successfully raise over US$40 million – quite an astonishing feat.

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Crypto Exchange Cryptocurrencies Sports

Red Bull Racing Inks $150 Million Deal with Bybit

Red Bull Racing has entered a US$150 million partnership with cryptocurrency exchange platform Bybit, claimed to be largest per annum crypto venture in international sport. While the figure is yet to be made official, the deal is set to hold for three years.

Red Bull Enters Crypto Big League

Bybit will become the Red Bull team’s exclusive and principal cryptocurrency exchange partner. Red Bull’s media release proclaims it to be “the single largest per-annum cryptocurrency venture yet seen in international sport”.

Bybit is set to join the racing team to promote “crypto-literacy” and green technology growth. Beyond branding on the team’s vehicles, Bybit will also become Red Bull’s fan token issuance partner. The team’s CEO Christian Horner states Red Bull intends to “[enliven] the fan experience in F1 through digital innovation”.

This news comes only weeks after the announcement that tech giant Oracle had signed a title deal with Red Bull Racing worth US$695 million.

Crypto Shells Out on Sports Sponsorships

Oracle Red Bull is not the first team to agree to a million-dollar deal. Earlier this month, English Premier League football team Manchester United signed a US$27 million per annum deal with blockchain platform Tezos.

Meanwhile, last month the Australian Football League struck a five-year deal with crypto.com for A$25 million. The deal will cover both the men’s and women’s competitions, a move inspired by Australian women’s higher-than-average willingness to take up crypto.

By Lauren Claxton, Crypto News Guest Author

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Crypto News Sports

Manchester United Legends to Create World’s First Soccer DAO

Former Manchester United superstars Gary Neville, Paul Scholes and Ryan Giggs are launching a sports-focused decentralised autonomous organisation (DAO) to allow fans to invest in professional football projects alongside them.

The Class of 92 Revisited

As reported by Bloomberg, the football legends have partnered with Singaporean billionaire Peter Lim and his son, Kiat Lim, to create the CO92 DAO, which will allow fans to own a stake of the DAO’s token and make sport-related investments.

CO92 DAO honours the Class of 92, a Manchester United squad distinguished by the names of David Beckham, Gary Neville, Paul Scholes, Nicky Butt, and other legendary players of the club.

The purpose of CO92 DAO is to make football fan ownership accessible to everyone. We have access to unique sporting projects and want to work together with fans to create value together.

Bloomberg

Details of the project are yet to be released but, according to Bloomberg, a public announcement is imminent.

Man U Making Waves in the Crypto Space

Manchester United has been making big moves in the crypto space. Yesterday, Crypto News Australia reported that the English club was set to partner with blockchain platform Tezos for a US$27 million per year sponsorship deal.

CO92 DAO would be the second sports venture by the father-son duo. They already have a football venture called gZujuPG, a digital platform backed by Man U superstar Cristiano Ronaldo.

CO92 DAO is the only way that the community can participate in the high-growth projects that the Class of ’92, Peter [Lim] and myself can provide access to by aggregating our years of experience and high-level personal networks in the industry.

Kiat Lim, Forbes Asia