The introduction of cryptocurrency into the sports world doesn’t have to start today. Over the years, the crypto space has been active in many sporting events including competitions, fundraisers, buying and selling players, etc.

The impetus for cooperation comes from both sides. The sports world is now aware of the potential of cryptocurrencies to increase financial returns. At the same time, sport offers a suitable way to make crypto more popular and fully integrate it into real life. Because sport is a global game with die-hard fans in all parts of the world. Here are some of the most interesting facts between crypto and the world of sports.

Cooperation and sponsorship

In 2014, BitPay, a leading US Bitcoin payment company, and ESPN signed a sponsorship agreement. This deal is one of the first in the world of sports – cryptocurrency. In addition, BitPay is also a sponsor of the St Petersburg Bowl, an annual soccer tournament for students in the United States. These sponsorships are perfect ways to promote crypto in the world of sports.

Further partnerships and sponsorships were concluded in 2018. CashBet works with Arsenal as an official and exclusive blockchain partner. CashBet used the partnership to promote its online betting services. Since then, there have been many online crypto sports betting, one of which 1xBit Stands out from the crowd with its seamless betting features and support for over 35 cryptocurrencies.

That same year, Litecoin officially partnered with UFC 232 and actively sponsored the heavyweight match between Alexander Gustafsson and Jon Jones. This event led to an increase in the value of the LTC coin. Litecoin UFC has collected over 40 million impressions on Twitter. These collaborations show a seamless flow between crypto and sports.

Player transfers and wages

More and more football clubs are accepting payments for player transfers and salaries in cryptocurrencies. Harunustaspor Football Club bought a player in 2018 and paid for it with Bitcoin. It was the first time in football history that this happened. After receiving 0.0524 BTC, 22-year-old Omar Faruk Kiroglu signed a new agreement with the football club.

In 2018, however, Gibraltar United Football Club went a step further by paying part of its players’ salaries in cryptocurrency. It did so after the club signed an agreement with Quantocoin. Quantocoin has been involved in many cryptocurrency transactions in the football industry, most notably the purchase of the Italian Serie C Rimini FC 1912 Football Club.

Blockchain ticket

The partnership between Lancashire Cricket and TIXnGO remains remarkable in this regard. The two parties signed an agreement for TIXnGO to develop a mobile ticketing platform with blockchain technology. The following deal has brought all games, international or national, to Emirates Old Trafford in 2020.

The success of the deal reduced the incidence of counterfeit tickets. By synchronizing tickets with smartphones, the booking process has been simplified and made more efficient and ticket sales increased at the same time.

In addition, many international payment companies see the light of the crypto services. At the 2018 FIFA World Cup, companies like Epayments and Wirex gave fans the opportunity to buy tickets through BTC, ETH and LTC. In addition, hotel chains such as Kaliningrad Apartments Malina also offer BTC bookings.

Fan token

Since fans have such a large stake in their club, innovations like fan tokens are an important part of collaboration in crypto sports. The fan token is a fully tangible digital token that gives fans access to a voice in club decisions. After purchasing Fan Tokens, you can vote on a number of topics related to your favorite club, such as: Fans also participate in FC coin groups.

The Fan Token Initiative offers an exclusive ticket and ensures that fans get more involved with the team they love. Chiliz has made remarkable strides here, creating a crypto and social media platform dedicated to offering fan tokens for various sports. Juventus and PSG have both partnered with Socios to sell fan tokens.

Cryptocurrency betting at 1xBit

The focus is again on the interface between cryptocurrency and the world of sports. More than ever, fans are looking for ways to watch sporting events and express informed views. 1xBit brings the most exciting crypto betting services with fan tokens from Paris-Saint Germain, AS Roma and Juventus now available to play on the site. This platform not only gives you the best odds, but also offers you live events to watch at home.

With a total welcome bonus of up to 7 BTC, 1xBit offers fans a somewhat carefree approach. This platform makes supporting your team a worthwhile project. You also enjoy absolute anonymity, as your cryptocurrency cannot be linked to a bank or a payment processor. In principle, your financial activity cannot be traced back from the sports betting provider.

With a multi-currency account that allows you to convert between more than 35 cryptocurrencies, 1xBit removes the barriers that exist in the gaming industry. Let’s start with a shot click. Here.

Disclaimer: This is a promotional item in the press releases category, not investment advice. Before you act, do your research as we are not responsible for your investment decisions.

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