Category: Sports

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Algorand Sponsors Drone Racing League in $100 Million NFT Metaverse Gaming Expansion

The New York-based Drone Racing League (DRL) has landed its biggest partnership to date with Algorand (ALGO), an open source blockchain project. The US$100 million partnership will span five years, with DRL spreading its reach in the crypto industry by making use of innovative blockchain technologies to spice up the sport.

According to an announcement by Algorand, “DRL, recognised globally for cutting-edge technology, immersive sports entertainment, and thrilling, high-speed drone racing, will bring to life next-generation fan experiences on the Algorand blockchain”.

Drone racing is seen by some as the sport of the future, and studies conducted by ALGO and DRL show that their target market is 40 times more likely to follow and engage with crypto social media than the general population, being part of the tech-savvy and early adopter market segment. According to DRL president Rachel Jacobson, “DRL is a defining 21st-century sports property, and we’re only going to do 21st-century business deals”.

DRL president Rachel Jacobson: “We’re only going to do 21st-century business deals.” Source: thedronegirl.com

Algorand has been growing its ecosystem at an exponential rate, with more than 500 global organisations already leveraging its technology. Australian blockchain solutions have also partnered with the project.

As crypto gaming becomes more prevalent, it has also begun to expand into mainstream sport and GameFi.

DRL’s global, tech-obsessed fans love that our sport constantly evolves, and blockchain was the next groundbreaking technology in our sights. Algorand shares our values of speed, innovation and inclusivity. We have ambitious plans to deliver a unique sports experience in the metaverse and are incredibly excited about how this partnership will change the game for sports and tech fans and the global blockchain community.

Rachel Jacobson, DRL president

A Growing Community of Innovation

The five-year partnership will allow for blockchain-enabled ticketing, collectibles, fan transactions and NFTs on Algorand, and crypto developers, programmers and coders will be welcomed to Algorand hackathon events at DRL races around the world. From title sponsorship to metaverse gaming, this deal is nearly all-encompassing.

You need to build in the right programming so that it’s not just a logo slap […] The crypto community are too smart – they see through just a jersey patch or signage. They want to know, ‘How do I get involved? And how is this going to change my sports experience?’

Rachel Jacobson, DRL president

DRL starts its sixth season on September 29, and the league has media rights deals with NBCUniversal and a streaming deal with Twitter. Other sponsorships include DraftKings, T-Mobile, Bodyarmor and the US Air Force. DRL helps the Air Force with recruitment and training of future drone drivers.

The global drone market – specified as the “Unmanned Aerial Vehicle” sector – is projected to be worth US$58 billion by 2026, according to MarketsandMarkets Research. With DRL also functioning as a drone maker, Jacobson says it wants to leverage products to lure more revenue.

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Crypto Exchange Crypto.com Fan Tokens NFTs Sports

Crypto.com Inks $35M Deal with PSG Football Club with ‘Significant Portion’ Paid in CRO Token

Renowned European football club Paris Saint-Germain has signed a multi-year deal worth up to 30 million euro (US$35 million) with Crypto.com to make the exchange its official cryptocurrency platform partner.

The partnership will be celebrated by the release of exclusive Non-Fungible Tokens (NFTs) on Crypto.com’s native NFT platform.

According to a blog post from Crypto.com, it has partnered with PSG with the exchange paying a large part of the sponsorship in Crypto.com coin (CRO), its native cryptocurrency.

As of September 17, the PSG fan token will be available for purchase by fans on Crypto.com. The token recently surged almost 62 percent after superstar Lionel Messi left Barcelona FC to join Paris Saint-Germain. Messi was reportedly paid up to US$35 million worth of the PSG fan token as part of his “welcome package” to the French club.

Our mission since day one has been to accelerate the world’s transition to cryptocurrency. We do so by finding the best partners in the world, and Paris Saint-Germain is second to none … Between the brand visibility, stadium and team access, and collaborative development of NFTs, I have no doubt we’ll create new and exciting experiences for football fans around the world.

Kris Marszalek, Crypto.com co-founder/CEO

Crypto.com Takes a Shot at Football After Partnering With Other Major Sports

Crypto.com has led the industry in sports partnerships, recently announcing global deals with the UFC, Formula One and Lega Serie A. The exchange became the first crypto platform to partner with an F1 team and an NHL team, and through its new partnership with PSG it aims to bring crypto to the fans.

PSG is the most successful club in French football, with an overall trophy count of 44 including seven of the last nine championships in France’s top professional league.

With this partnership, Paris Saint-Germain demonstrates once more its vision and leadership as a pioneer in areas such as lifestyle, esports and digital. It is an exciting time for cryptocurrency and we cannot wait to work with Crypto.com to bring new experiences to all of the club’s fans.

Marc Armstrong, chief partnerships officer, Paris Saint-Germain
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Blockchain Crypto Art Crypto News NFTs Sports

NFL Prohibits Teams From Launching NFTs and Crypto Sponsorship

In a move that counters the trend in most other major sports, from football to boxing to cricket, the US National Football League (NFL) has banned its teams from selling non-fungible tokens (NFTs) or sponsorships to cryptocurrency trading firms.

As reported on sports website The Athletic on September 3, clubs are restricted from selling “advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain [or] digital assets”, according to the NFL guidelines.

However, the policy does allow for sponsorships with companies that mainly provide investment advisory or fund management services related to cryptocurrency, along the lines of Grayscale Investments’ agreement with the New York Giants.

Rule Does Not Appear to Apply to Specific Players

Tom Brady with wife Gisele Bündchen. Source: Us magazine

Individual ventures seem to be exempt from the rule. For example, star quarterback Tom Brady has a joint stake in crypto derivatives exchange FTX with his Brazilian supermodel wife Gisele Bündchen, and he also owns an NFT platform in partnership with sports betting operator DraftKings. Brady’s Tampa Bay Buccaneers teammate Rob “Gronk” Gronkowski recently sold an NFT collection, while Kansas City quarterback Patrick Mahomes released his own collection of NFTs on MakersPlace in March.

Russell Okung, first NFL player to be part-paid in bitcoin. Source: oldnorthbanter.com

Carolina Panthers lineman Russell Okung announced last December he would be getting half of his US$13 million salary paid in bitcoin. Okung timed his decision well, as the NFL had just capped the league’s salaries at US$180 million. Some suggest Okung is now the highest paid NFL player thanks to his crypto manoeuvre.

The NFL policy places it at odds with other major sports in the NFT space. The NBA has pursued a lucrative partnership with Dapper Labs’ NBA Top Shot dating back to May last year, and in July Major League Baseball launched its own NFT marketplace with Fanatics-owned Candy Digital.

The Athletic’s report does not disclose any negative feedback from players who have already participated with crypto firms, or whether they have been granted any form of immunity from the new ban.

Possible Reasons for the Ban

It has been suggested that teams are not permitted to sell NFTs because the league is developing its own strategy for sports digital trading cards and art. While other leagues have opened the floodgates for digital assets, the NFL is notoriously cautious with new commercial categories. For example, it trod very cautiously with gambling and alcohol promotions before eventually relaxing its restrictions.

In the case of cryptocurrency, the league currently only allows teams to align with companies that are a step removed from trading.

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Bitcoin Coinjar Crypto News Crypto.com Sports

PSV Eindhoven Football Club Gets €400,000 Sponsorship Deal Paid 100% in Bitcoin

Dutch football giant PSV Eindhoven has signed a partnership with Anycoin Direct to become the first major football club in the European Union to have its entire sponsorship paid in bitcoin. Chances are they won’t be the last.

Celebrating the deal. Source: Official PSV Eindhoven website

PSV No Stranger to Crypto

Earlier this year, the club got involved in the crypto sector for the first time when in April it sold an NFT of its historic victory in the 1988 European Cup final over Portugal’s Benfica.

According to the official press release, Anycoin Direct will be the club’s partner for the next two seasons with the goal being to grow awareness of the crypto industry and Anycoin Direct across the European region. While there were many candidates in the race for the partnership, PSV ultimately chose to have a local partner from the Eindhoven area, in the southern Netherlands.

Frans Janssen, the commercial director of PSV, has already created the relevant crypto wallets and expressed enormous enthusiasm about the partnership:

The possibilities and the future that the world of cryptocurrency offers is very promising. As a club in the heart of the Brainport region, we are always innovating; cryptocurrency fits well into this picture.

Frans Janssen, commercial director, PSV

Echoing those sentiments, Lennert Vlemmings, COO at Anycoin Direct, commented:

Growing up in the region, PSV has always been very close to me. As a technology company from the Brainport area we are very excited to be working with PSV. The payment in bitcoin marks the next step for the adoption of cryptocurrency in the EU.

Lennert Vlemmings, COO, Anycoin Direct

According to Dutch publication Eindhovens Dagblad, PSV will be paid €400,000 (about A$650,000) per season. The report further suggests that the arrangement guarantees undefined guaranteed returns in the case of a price reduction, taking into account bitcoin’s volatility.

Sports and Crypto – a Trend On the Rise

Increasingly, we are seeing the worlds of sports and crypto intertwine as unexpected partnerships proliferate within the sector. Earlier this year, the UFC partnered with Crypto.com in a US$175 million 10-year deal.

Turning to the world of football, Watford Football Club will be sporting the Dogecoin logo on its shirts this EPL season, while Crypto News Australia partner and Australian crypto exchange Coinjar recently concluded a partnership with newly promoted EPL team Brentford FC.

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Betting Crypto News Dogecoin Sports Tokens

Dogecoin Scores Premier League Spot on Watford FC Player Shirts

Popular meme cryptocurrency Dogecoin (DOGE) has made it to the English Premier League. Stake.com, a cryptocurrency sports betting platform, has reportedly sealed a sponsorship deal with Watford FC, which will see the club’s players wear a Dogecoin logo on their sleeves. 

Watford FC to Play with Dogecoin

As The Athletic reported on August 14, the betting platform has signed a £700,000 (almost US$1 million) agreement with the football club. The sponsorship deal is expected to last throughout 2021-22, meaning Watford players will wear the Dogecoin logo for the rest of the EPL season, which kicked off last week. 

In addition to the Dogecoin sponsorship, Stake.com will give away US$2 million worth of DOGE, as per the report. This is bullish for Doge fans, as it creates heightened awareness for the much-derided meme cryptocurrency.

Dogecoin saw an uptick in price amid the announcement, and is currently trading at US$0.3386 – a 38.5 percent increase over the past seven days. 

The crypto and sports industries are increasingly getting along, thanks to the concept of non-fungible tokens (NFTs) and fan tokens, and sponsorship. This marks the second time Watford FC has secured a crypto-related sponsorship deal. Players wore a Bitcoin logo during the 2019-20 season under a sponsorship deal with Sportsbet.io. 

In related news, earlier this month Aussie cryptocurrency exchange Coinjar became a “platinum partner“ of another EPL football club, Brentford FC. It already sponsors high-flying AFL team the Melbourne Demons.

Aston Villa to Launch $AVL Token

In a recent blog post, EPL club Aston Villa announced it would launch a fan token in partnership with Chiliz, a blockchain-based sports tokenisation platform. Among other benefits, holders of $AVL will get a chance to participate in the club’s votes every season.

Last season’s EPL champions Manchester City launched their own digital token “$CITY” in March.

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Crypto News NFTs Sports

German Bundesliga Set to Capture “Football Moments” as NFTs for Fans This Season

Bundesliga, the German professional football league, is set to release a series of NFT trading cards that will feature top players, rising stars and highlights from the current season.

Topps, one of the biggest names in the trading card business, announced on August 6 it would be releasing the Bundesliga 2020-2021 Season Celebration NFT Collection on its newly developed NFT platform, Topps NFTs.

Our vision is to create a fun, easy-to-use collecting experience on the blockchain that appeals to all fans whether they have experience with NFTs or not […] We can’t wait to introduce this new collecting experience to Bundesliga fans around the world.

Topps official statement

The Bundesliga 2020-2021 Season Celebration NFT Collection goes on sale from August 10.

Football NFTs Booming

Football and NFTs are like conjoined twins right now, with dozens of high-profile names in the football world itching to get a piece of the NFT pie. Lionel Messi is entering the game with an NFT collection called “The Messiverse“, due to be released later this month. Last month, Giorgio Chiellini, captain of Euro 2020 champions Italy, released his own NFT collection, “The Gladiator“.

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Blockchain Crypto News NFTs Sports

World’s First Cricket-Based NFTs Launching Ahead of T20 World Cup

Indian tech startup Rario is set to launch the world’s first cricket-based non-fungible tokens (NFTs) on August 15, well ahead of the Twenty20 World Cup scheduled for October-November.

Subcontinental business website The Economic Times reports that Rario has already secured the Lanka Premier League Twenty20 competition as a partner and is in negotiations with three more major leagues.

Rario claims it has initially signed male and female players from India, South Africa and Bangladesh to offer their digital collectibles to fans. Big names cited include former India fast bowler and official Rario ambassador Zaheer Khan, South African batsmen AB de Villiers and Faf du Plessis, plus Smriti Mandhana, a star of India’s women’s team.

Other Players, Leagues and Cricket Boards To Be Announced

Rario co-founder Ankit Wadhwa told The Economic Times: “We are in the process of signing [other] players, leagues and cricket boards. We are trying to create an ecosystem before making it a global play.”

We are living in a mobile-first world and all our interactions are primarily digital; we buy, sell and help each other online but fandom is still predominantly offline. Rario aims to change all that.

Ankit Wadhwa, Rario founder

The Rario move makes cricket the latest sport to leap aboard the NFT bandwagon. It comes after the International Cricket Council (ICC) invited companies to express interest in developing and launching a digital collectibles platform for cricket fans globally.

Other sports such as the National Basketball Association, Major League Baseball, and Formula One teams Red Bull and McLaren have their own NFT agreements in a collectibles market now worth over US$2.5 billion and rising.

The Rario platform will not only issue digital collectibles, but also offer games and a marketplace for fans to trade their assets.

No doubt Rario will find a foothold in a cricket-mad market such as Australia, which has already shown keen interest in sports trading cards, as reported by Crypto News last month.

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Crypto News Cryptocurrencies Dogecoin Ethereum Sports

Surf Legend Kelly Slater Wants to Create His Own Crypto

Champion surfer and environmentalist Kelly Slater has expressed an ambition to add a personalised cryptocurrency brand to his list of 11 world titles.

The 49-year-old American has long observed the progress of Bitcoin and Ethereum and says the prospect of hitching a crypto asset to his latest green project is his next challenge after 40 years at the sporting forefront.

Slater has been focusing his attention on a wood recycling company and hopes to link a crypto coin to his environmental endeavours.

I’ve started reaching out to people in the crypto world who make these things. We’ll see if there’s something we can do that’s a positive one, and not a fly-by-night coin where people are just trying to make a quick buck overnight.

Kelly Slater

The Florida native says he has a basic understanding of blockchain and cryptocurrency, and their relationship to world economies.

I think it’s interesting to have a currency – a store of value – that isn’t controlled by a CEO or a government. It’s an exciting, rare time for people to do their investing themselves.

Dogecoin and Its Ilk “Need to Disappear”

Slater doesn’t want his crypto to be a meme currency like Dogecoin, which “literally has zero purpose for anyone”. In fact, he adds:  “Those all need to disappear.” A new technology, he says, “should have some kind of utility or protocol that makes a company or people’s lives better”.

The champion surfer would approve of Quebecois bitcoin mining company Bitfarms, which listed on NASDAQ last month and is committed to using green energy. More than 99 percent of the power it uses to run its operations comes from hydroelectric energy.

He’d also be happy to know that Ethereum 2.0 is greener and better for the environment – up to 99 percent more sustainable, according to some industry observers.

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Crypto News NFTs Sports

Euro 2020 Winning Italian Football Captain Launches NFT Collection

Giorgio Chiellini, professional footballer and captain of newly crowned Euro 2020 champions Italy, has launched his non-fungible token (NFT) on Blockasset. Chiellini released his digital collection just days before the Euro 2020 final.

Chiellini Jumps Aboard the NFT Bandwagon

According to reports, Chiellini’s digital collections went live exclusively on the Solana-based NFT marketplace Blockasset on July 9. The series is dubbed “The Gladiator“, as it reflects the “gladiatorial spirit“ of the Italian captain, who also plays for Turin-based superclub Juventus. 

At the time of writing, only one bid – worth US$965.70 – had been placed for The Gladiator on Blockasset. 

Besides “owning” Chiellini’s iconic moments from his football career, the highest bidder for the NFT reportedly stands a chance of receiving one of his signed match shirts and also meeting Chiellini in person. Additionally, the bidder will get free tickets to watch him play for the national team or Juventus.

Athletes Embrace NFT

The concept of NFT has become very popular among athletes, especially football and basketball players who see NFTs as a way to connect with fans while also sharing key moments with them. Former English striker Michael Owen is one of several football players to have partnered with Binance Marketplace to exclusively release their digital collections on the platform.

Last week, Crypto News Australia reported rapidly growing interest in sports trading cards among Australians. As a result, Aussie companies like Four Points Collectables and Sport Moments are planning to develop an NFT platform targeting Australian sports fans. 

The NFT market has boomed in popularity over the past few months, with some content trading for millions of dollars. Amid the traction, many VC companies are betting big on the space. Recently, Ordre closed a funding round led by an Australian VC company to expand its fashion technology and NFT project. 

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Blockchain Crypto Exchange Crypto News Crypto.com Sports

Crypto.com Partners with UFC for $175 Million in 10-Year Deal

Every UFC fighter who steps into the octagon will wear the logo of leading cryptocurrency exchange Crypto.com under a historic new US$175 million sponsorship deal.

In addition to being announced as UFC’s official uniform partner, Crypto.com was also named UFC’s first-ever official cryptocurrency platform partner – a new sponsorship category for the organisation.

UFC President Dana White said the partnership made sense given the popularity of both brands. UFC is the highest-profile martial arts organisation with a global fan base of more than 625 million people.

No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.

UFC President Dana White

Crypto.com dubs itself “the world’s fastest-growing crypto app” and has more than 10 million users buying and selling more than 100 crypto assets.

Branded uniforms and other sponsored content covered by the deal will be introduced on July 10 when Conor McGregor takes on Dustin Poirier in Las Vegas. 

Crypto.com and UFC Embrace Blockchain to Engage

Crypto.com and UFC are both dipping their toe into blockchain-powered solutions to deliver content to their target audiences.

Crypto.com is collaborating with celebrities in sport and music to deliver exclusive content on an NFT marketplace, soon to be launched, while UFC will soon launch a UFC fan token in partnership with blockchain fintech provider Chiliz, to be made available on the fan engagement and rewards app Socios.