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Crypto News DeFi NFTs Sports

What’s Behind Manchester City and FC Barcelona Dropping Their Crypto Sponsors?

Two of the world’s most highly valued professional football clubs, Manchester City and FC Barcelona, have discarded their crypto sponsors in eyebrow-raising circumstances.

After just over a week, Manchester City has suspended its partnership with shadowy cryptocurrency start-up 3Key Technologies. On November 15, the company was named by City as an “official regional partner in decentralised finance (DeFi) trading analysis” as part of a commercial expansion by the English Premier League champions.

Manchester City/3Key deal is no more. Source: retailtechinnovationhub.com

However, that process has now been halted, with the decision believed to be based on 3Key’s lack of online presence and an apparent absence of due diligence, although a City spokesperson has denied the latter charge.

“Manchester City conducts due diligence in respect of all of its partnerships,” the spokesperson said. “[The club]’s partnership with 3Key Technologies has been announced but has not been activated in respect of any specific products or services in any part of the world.”

Manchester City will retain its deal with Socios Fan Token App, which it signed in March this year.

FC Barcelona Cancels Deal With Ownix

In the case of FC Barcelona, the Catalan club announced on November 19 that it had cancelled a deal with NFT marketplace Ownix after the arrest of one of its consultants, Moshe Hogeg, owner of Israeli football team Beitar Jerusalem.

Moshe Hogeg faces charges of crypto fraud and sexual assault. Source: Flash90

Police arrested Hogeg and seven other people this week on suspicion of involvement in an alleged massive crypto fraud running into “tens of millions of shekels”. Hogeg is also facing separate charges of historical sexual assault involving an Israeli model.

On November 5, Ownix announced it was partnering with FC Barcelona to launch NFTs that would have allowed owners to buy digital certificates of authenticity for virtual items linked to the team’s history. This week, the club issued the following statement:

In light of information received that goes against the club’s values, FC Barcelona hereby communicates the cancellation of the contract to create and market NFT digital assets with Ownix, with immediate effect.

FC Barcelona official statement

Ownix tweeted in response that it had terminated its deal with Hogeg to provide consultation services, saying the decision had been made at Hogeg’s request. Ownix also denied any connection to Hogeg’s arrest and that he held any shares in the company.

Lawyers representing Hogeg said in a November 25 statement that he “vehemently rejects” all charges and is “cooperating fully” with investigators.

FC Barcelona’s ‘Debt Crisis’ No Closer to Resolution

Earlier this month, FC Barcelona announced it would be auctioning NFTs of memorable moments from the club’s 122 years in the game. It was whispered at the time that the club was in the midst of a debt crisis, reportedly around US$1.57 billion in the red this northern summer. The club’s previous leadership was accused of reckless spending on players who have subsequently underperformed.

With the cancellation of its deal with Ownix, those purported NFTs may be some way off yet.

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Crypto.com NFTs Security Sports Tokens

CRO Token Continues to Soar, Up Over 500% in Past 3 Months

CRO, the native token of the crypto exchange Crypto.com, has surged by more than 1000 percent in 2021 and is now worth almost US$1, with a current price of $0.89 at time of writing.

What’s Driving the CRO Price?

Data from Messari shows the token has been on the green this year, with three-month returns exceeding 533 percent gains. Its total market cap is now above US$23 billion, with 24hr trading volumes nearing US$300 million.

Crypto.com has been doing a lot for the crypto space lately in terms of partnerships, appearances, deals with high-profile companies in traditional finance, even jumping into the sports industry.

Sports Partnerships and Naming Rights

The main drivers of this rally are Crypto.com numerous sports partnerships this year and becoming the first crypto exchange to pass the SOC 2 test, which is an internationally recognised standard in traditional finance.

The Staples Center – home of the iconic NBA team Los Angeles Lakers – will be renamed Crypto.com Arena after the exchange bought the naming rights. This in itself caused the CRO token to surge over 91 percent in later hours.

Moreover, Crypto.com announced yesterday that it has become the first crypto trading firm to comply with SOC 2 standards. This, the firm says, reassures its position as a trustworthy company for its users.

The SOC (Security Organisation Control) 2 is an internal report that attests to the trustworthiness of a company’s information practices, security, procedures and integrity.

NFT Marketplace Assembles Big Names

In early 2021, Crypto.com hooked up with important names from several industries, collaborating with the likes of Lionel Richie, Snoop Dogg, the Aston Martin Formula 1 team, and more. The resulting NFT platform is now one of the top marketplaces for NFT collectors and content creators.

Launch of Free Crypto Tax Software in Australia

The crypto exchange has also been helping Aussies with their crypto tax obligations. Three months ago, Crypto.com launched a crypto tax software package in the country backed by professional tax advisers to facilitate the filing of crypto taxes at no cost.

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Crypto News Events NFTs Sports

NFL Launches NFT ‘Virtual Tickets’, Potential Future Trend in Sports Ticketing?

The US National Football League (NFL) is now attaching non-fungible tokens (NFTs) to its tickets, adding them as “virtual commemorative tickets” that will be automatically sent to fans’ Ticketmaster wallets moments after attending live games.

NFL Makes Plays into the Cryptosphere

The NFL has officially launched NFTs to replace ticket stubs for its fictures, at least for the remainder of matches this year. The league announced that fans who attend games through to the end of 2021 will be able to receive a “virtual commemorative ticket” (VCT) as an NFT in a Ticketmaster digital wallet. Virtual tickets will be live on the Polygon network.

The first VCT game took place on November 7 when the 49ers played the Cardinals, and the next event is scheduled for Thanksgiving for the Detroit Lions/Chicago Bears match. The announcement of NFL NFTs comes just two months after the league prohibited teams from selling NFTs and engaging in sponsorships from crypto trading firms.

Chicago Bears NFT. Source: NFL Commemorative Tickets Website

Some Users Critical of Download Format

NFT club business development senior vice-president Bobby Gallo has said:

Leveraging the emerging world of NFTs is a new and exciting way for us to create additional value and to further engage with fans who attend select games by providing a virtual commemorative ticket. There is no better time than the upcoming holiday season to kick off this fun and engaging fan experience, starting with the Chicago Bears and Detroit Lions Thanksgiving Day matchup.

For fans to claim their NFTs, they need to have bought their match tickets through one of the licensed NFL Ticketing Network vendors – either Ticketmaster, SrubHub, SeatGeek, or a team’s corresponding ticket office.

However, some users are not entirely happy with the download format of NFL NFTs. Sportswriter Jacob Feldman took to Twitter to express his irritation:

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Crypto Exchange Crypto.com Sports Tokens

CRO Token Soars 30% Amid $700 Million Deal with Los Angeles Lakers

News of Crypto.com securing naming rights to Los Angeles’ iconic Staples Center has seen the price of the exchange’s coin (CRO) soar, hitting an all-time high of just below US$0.57.

Crypto.com announced on November 16 that it had entered a 20-year partnership with sports entertainment company AEG, which owns and operates the Staples Center – home to four professional sports teams, including the Los Angeles Lakers and LA Kings, and a premier venue for concerts, special events and awards shows, including the Grammy Awards.

The partnership agreement includes:

  • renaming the Staples Center to Crypto.com Arena, effective December 25;
  • Crypto.com featured across the venue via branding and signage throughout the interior and exterior of the facility; and
  • Crypto.com becoming an official cryptocurrency platform partner of NBA team the LA Lakers and NHL team the LA Kings.

Commenting on the agreement, Crypto.com co-founder and CEO Kris Marszalek said:

We’re very excited about partnering with AEG and investing long-term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment and technology for fans in LA and around the world.

Kris Marszalek, co-founder and CEO, Crypto.com

Todd Goldstein, chief revenue officer of AEG, added:

This partnership represents the fastest-growing cryptocurrency platform and the biggest sports and live entertainment company in the world converging to drive the future of sports and live entertainment as well as the incredible legacy of this arena for decades to come.

Todd Goldstein, chief revenue officer, AEG

The CRO token increased in value earlier this month after being listed on Coinbase, reaching almost US$0.40 within two days after tracking sideways under $0.20 previously. 

It seems Crypto.com’s aggressive marketing and focus on sporting sponsorships is paying off. The exchange also partners with the UFC, Formula 1, and in September signed a deal with French football powerhouse Paris Saint-Germain.

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Australia Bitcoin Crypto News Payments Perth Sports

Perth Heat Becomes World’s First Sports Team to Embrace a Bitcoin Standard

Stealing a march on its American counterparts, Australian Baseball League club the Perth Heat has become the first professional sports organisation in the world to fully embrace Bitcoin for payment acceptance and payroll for both staff and players.

Although Dutch team PSV Eindhoven and English club Southampton FC both signed deals earlier this year to allow football sponsorships to be paid in bitcoin, this is the first time any sports club anywhere has fully adopted the Bitcoin standard.

As part of this sports world exclusive, Perth Heat will:

  • pay players and staff in bitcoin;
  • accept bitcoin payments for sponsorships, merchandise and ballpark concessions; and
  • HODL bitcoin on the club’s balance sheet.

In partnership with bitcoin payments processor OpenNode, the Perth Heat is setting Bitcoin as its new standard for payments and payouts, powered by the Lightning Network.

Perth Heat CEO Steven Nelkovski. Source: abc.net.au

According to Perth Heat CEO Steven Nelkovski, the club looks forward to “setting the bar” for how much value a sports organisation can bring to a community in the bitcoin age.

We hope our adoption of a Bitcoin standard will inspire others to embrace a monetary system that demands value creation to thrive. The players and organisational staff have fully embraced the opportunities that being paid in bitcoin can provide.

Steven Nelkovski, CEO, Perth Heat

‘The Future of Money Lives on the Bitcoin Blockchain’

Patrick O’Sullivan, the club’s chief bitcoin officer, says Perth Heat is embracing the reality that the future of money and corporate treasuries will live on the Bitcoin blockchain.

We believe the world has begun to recognise the power of sound money principles and are determined to lead from the front. This is not a one-off purchase to hedge against future uncertainties or inflationary pressures.

Patrick O’Sullivan, chief bitcoin officer, Perth Heat

Possibilities for the club are limited only by imagination. In addition to treasury appreciation, Perth Heat will be ideally positioned to secure better players and deals in the future, outpacing its competitors. The game theory aspects of bitcoin adoption will also, perhaps inevitably, lead other sports clubs to follow its example.

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Crypto News NFTs Sports

Could NFTs Solve FC Barcelona’s $1.56 Billion Debt?

FC Barcelona, the world’s second-most valuable football club after Real Madrid, will be auctioning non-fungible tokens (NFTs) of memorable moments from the club’s 122 years in the game.

Barcelona is jumping on the NFT bandwagon with its new range of “historic club moment” NFTs, joining other major football leagues such as La Liga and the German Bundesliga. The NFTs will be made available on November 24 on Ownix, an Ethereum-based marketplace.

There is scant information about its plans but it appears that the club will allow fans to bid on clips of highlights in a style similar to that of NBA Top Shot. Barcelona NFTs will be selected by a “special joint committee”, then minted – first as unique one-off auctions, then later as a broader limited edition or collection.

As NFTs surge, we think it is important to give those collectors who are Barça fans an opportunity to own a piece of the club’s history.

Guy Elhanani, CEO, Ownix

NFTs to Connect More Closely With Fans

Sports teams worldwide have clamoured to get aboard the NFT bandwagon to spur fan engagement in addition to creating a new stream of revenue. This is all part of Barcelona’s global expansion strategy to increase its “commitment to seek out new channels and formats to connect with new generations, while providing a different form of interaction with fans around the world”.

Barça has a very large fanbase around the world and leads the way in the digital domain with over 400 million followers in social networks. Given this scenario, the club is constantly looking for new ways to connect with its fans, and we believe that creating these NFTs is a unique opportunity.

Joan Laporta, president, FC Barcelona

In addition to FC Barcelona moments, Ownix will host sales of NFTs in other sports, art, music, movies, design, and more.

Selling NFTs to Soak Up Debt?

FC Barcelona claims to be “the first premium football club” to launch a crypto offering. The truth is it might have even been a little slow off the mark, with more than two dozen European football teams now offering their own digital tokens or NFTs.

The club is in the midst of a debt crisis, reportedly around US$1.57 billion in the red this northern summer. The club’s previous leadership is accused of reckless spending on a number of players who have subsequently underperformed.

This summer the club was forced into a fire sale and, due to salary cap rules, was unable to retain Lionel Messi, one of the world’s best-known and most successful players. Messi instead signed with French club Paris Saint-Germain, causing the PSG fan token to surge over 50 percent.

Some are of the opinion that the FC Barcelona NFT project is simply a means to plug some financial holes.

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Blockchain NFTs Sports Tokens

Wrestling Fans Can Now Buy WWE NFT Collectibles and ‘Memorable Moments’

World Wrestling Entertainment (WWE) has formed a tag team with LA studio Bento Box to launch a new line of NFTs in a multi-year deal with Blockchain Creative Labs.

After WWE entered a five-year media deal with Fox Entertainment in 2018, Fox announced a US$100 million investment in its then-new blockchain division.

The WWE NFT drop is the first from Blockchain Creative based on a property not owned by Fox, after it released an NFT line based on popular TV competition The Masked Singer earlier this month.

Fans Will Need a Digital Media Wallet from Eluvio

Like those tokens, the WWE collectibles are on the Eluvio blockchain, in which Fox is also an investor. Fans will need to create a digital media wallet via Eluvio to allow them to purchase NFTs with credit cards or crypto, as well as trade and sell them.

Each of the WWE tokens will be tied to images of past and present WWE superstars and tentpole events such as Wrestlemania and SummerSlam. The NFTs will be listed on WWE’s NFT Marketplace, the name of which and official launch date to be announced in the “next few weeks”.

This is not WWE’s first foray into NFTs. In April, timed to coincide with WrestleMania 37, it dropped a set highlighting the career of recently retired star Mark Calloway, better known as the Undertaker.

We know WWE’s passionate fan community will love owning authentic digital goods across the organisation’s creative universe, from past and present stars to classic, culture-defining moments.

Scott Greenberg, CEO, Blockchain Creative Labs and co-founder/CEO, Bento Box Entertainment

Still Think Wrestling Is Fake? Adobe May Have a Solution

In the same week as news of the WWE NFTs broke, Adobe Photoshop announced the upcoming launch of a new security feature in its Photoshop software that can assist in verifying an NFT’s authenticity. Perhaps Adobe could talk to the WWE about a possible solution for those cynics who continue to doubt the authenticity of professional wrestling.

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Coinbase Crypto News Sports

Coinbase Becomes Official NBA Crypto Sponsor

Publicly traded US exchange Coinbase has become the first cryptocurrency company to partner with the National Basketball Association (NBA) ahead of the league’s 75th anniversary season.

The exchange wants to seize the occasion to enlighten fans on the increasing advancements happening within the crypto-economy:

NBA, WNBA Join Crypto

As per the report, Coinbase has signed a multi-year sponsorship deal with the NBA and will also become the partner of other professional basketball leagues, including the Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League, and USA Basketball. 

The sponsorship also means Coinbase will become the presenting partner for the league, meaning the company logo will be televised during matches. 

The freedom to participate and benefit from the things you believe in is at the heart of Coinbase’s mission. Nobody believes this more than NBA and WNBA fans. We’re proud to become the leagues’ official cryptocurrency partner.

Kate Rouch, chief marketing officer, Coinbase

As NBA and MLB Embrace Crypto, NFL Appears Left Behind

NBA may likely enable cryptocurrency support in the future, as one of its executives, Kerry Tatlock, says it is looking to provide fans with new ways to engage with the league and each other.

Cryptocurrency has expanded its footprint on the sports industry in recent years, following continuous partnerships between crypto companies and sporting entities as well as through fan tokenisation. In June, FTX exchange became the first crypto sponsor of Major League Baseball (MLB) after signing a long-term partnership deal with the league. 

Meanwhile, the National Football League (NFL) seems unmoved by the growing relationship between the sports and cryptocurrency industries. As recently as September, the NFL red-flagged cryptocurrency and NFTs, warning the teams not to sell any ads or seal crypto-related deals. More announcements from Coinbase and other crypto firms may be enough reason to get NFL into crypto. 

Coinbase has been paying attention to trends and is prepared to tap demand from any market possible. Just days ago, the exchange announced its plan to launch a P2P NFT marketplace, which would mark its debut in the market. It also had plans to launch a Lending program, but the US Securities and Exchange Commission ruled against the product.

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Crypto News Ethereum NFTs Sports

Magnus Carlsen Awarded NFT Trophy For Chess Tournament Win

Norwegian chess grandmaster Magnus Carlsen has been awarded the world’s first non-fungible token (NFT) chess trophy after winning the Meltwater Champions Chess Tour (MCCT).

The tournament minted a couple of NFT trophies and collectibles to preserve the game’s most defining moments. Carlsen has praised the crypto ecosystem for its support of virtual chess tournaments and cited MCCT’s recent partnership with the FTX crypto exchange, which allowed professional chess players to compete for a prize of 2.1825 bitcoin (BTC), worth approximately US$81,079.

Identical Signed Trophy Sells For 6.88 ETH

Carlsen’s trophy is one of two identical NFTs minted on the Ethereum blockchain. Both were signed by the grandmaster and auctioned off to collectors at the new Chess Champs digital marketplace.

The second NFT trophy has already sold for 6.88 Ethereum (ETH), worth US$24,750 at the time of purchase.

At the presentation, Carlsen spoke of his appreciation for NFTs and cryptos in general:


NFTs help the chess community celebrate great moments and possibly also reward those that have already invested so much time in growing the game. With Chess Champs, this is just getting started and I look forward to seeing it evolve. 

Magnus Carlsen

Before the chess trophy was unveiled, MCCT director Arne Horvei said: “For the first time in the history of chess we are going to provide a trophy that is an NFT-only trophy and, as far as I know, there is no other competition with professionals that has ever done that.”

To have NFT trophies and copies with a real trophy is one thing but to have an NFT-only trophy, as far as I know, we are the only one to have done that.

MCCT director Arne Horvei

NFTs: Bridging the Gap Between Sports and Digital Entertainment

The NFT market is still exploding and there is no sign it will stop any time soon. Current NFT use is only in buying and hoping the value increases, but a company called SynFutures is now allowing investors to short the booming industry.

Sports fans and collectors alike are loving NFTs. In Australia, and all over the globe, people are going crazy over sports NFT trading cards. The NFT market is taking full advantage of fans’ and collectors’ love of the industry, with many now offering sports trading cards that capture famous sporting moments as NFTs.

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Crypto News Fantasy Sports NFTs Sports

Sorare Fantasy Football Partners with German Bundesliga

Sorare is back at it again, this time signing another partnership deal with the major German football league, Bundesliga, as well as Bundesliga 2. The deal will also debut the video-type Bundesliga “NFT Moments” on the platform.

Deal Follows Partnership with La Liga

Sorare, one of the major players in the non-fungible token (NFT) sports space, has added its second high-profile football league to a growing list of partners. The deal will allow fans to play and trade with new NFTs from Bundesliga (first division) and Bundesliga 2 (second division), with the collectibles poised to launch by the end of this month.

After announcing its partnership with La Liga on September 9 and with its newest German addition, Sorare now represents over 200 clubs, a major breakthrough as it approaches its goal of partnering with the top 20 leagues in the world.

The Bundesliga is one of the best leagues in the world, home to some of the most exciting clubs and footballers on Earth […] We are very proud to partner with them to launch our first NFT Moments – we are building the future of fandom together.

Nicolas Julia, Sorare CEO

Bundesliga Moments Launch in 2022

Sorare Bundesliga Moments will be launched in 2022 with the company also stating that “if there is a moment from the current Bundesliga season that you think deserves its [own] NFT, let us know on Twitter using #SorareMoments”, giving fans direct input into the minting of NFTs.

Player Pool Expands Along With the Company

Players who want to experiment with their fantasy football teams now have many to pick from with the addition of world-class football clubs such as Borussia Dortmund, RB Leipzig, Borussia Mönchengladbach, Wolfsburg and Union Berlin. The platform also stated that at the moment there are no immediate plans to release Bundesliga 2 cards.

The Bundesliga holds the accolade for the highest average attendance in football stadiums. The German football league generated approximately US$4.5 billion in revenue during its 2020-21 season, reflecting fans’ commitment to their favourite clubs.

As the company expands, adding more clubs to its list of partners in Sorare’s fantasy football game also expands the pool of players users can choose from to add to their fantasy football teams. Last month, Sorare raised US$680 million in a series B funding round for the project.

We are delighted to be partners with such a dynamic and exciting company. NFTs are a digital technology of the future that should not be underestimated – especially in the sport sector. I am therefore convinced that this collaboration will give rise to further impulses.

Robert Klein, CEO, Bundesliga International