Sports and Cryptocurrency News: Week of February 14-20, 2022.
Red Bull Racing has landed another big deal, a new DAO in the market is looking to buy a major league team, the NFL is lobbying to back crypto with top federal agencies. These are just some of the highlights from Sports and Cryptocurrency markets over the last 7 days.
After last year’s deal with Tezos, Red Bull Racing will be back for more in 2022, signing a new deal with cryptocurrency exchange Bybit, billed as “the world’s largest annual crypto deal in international esports to date.”
The terms of the deal have yet to be announced, so the statement is still questionable, but according to sources, the deal is believed to be a three-year, $150 million partnership that will guarantee Bybit the “Main partner of the team” is – one level below the “primary partner” who deals with the brand.
Last week, Red Bull secured its key partner funding with software giant Oracle in a five-year, $300 million deal. Bybit has over 6 million registered users and offers over 150 spot trading pairs.
Jimmy Butler has led the Miami Heat this season, making the team one of the top contenders in this year’s Eastern League. Butler ran a co-branded giveaway with Binance this past weekend, giving away 2,222 NFTs during the Super Bowl. Butler also sat down with Financial World to talk about crypto in recent weeks, saying that in the NBA, “people are starting to learn about crypto or wine.”
F1 deals are growing in popularity and currently all but two F1 teams have crypto-related deals, according to a recent report from SportsPro. Even the league in general has an agreement with Crypto.com.
This week came the final step as Binance secured its first F1 transaction with Alpine. NFTs will be the first step for both sides. Laurent Rossi, CEO of Alpine, stated: “The partnership with Binance fuels our passion for transforming the racing landscape and opens the door to more creative interactions with fans. This journey begins with the launch of the Alpine token and the launch of a special NFT collection.”
Recently Binance has turned to more and more sports partnerships and this week F1 team Alpine is the latest deal for the exchange.
A new report came out this week from the good guys at Front Office Sports, revealing that the NFL has spent more than half a million dollars investigating “blockchain-related issues” in both houses of Congress and the SEC -Technology” to lobby.
The NFL has also lobbied the White House, the Justice Department and other high-level agencies on issues like sports betting and leagues, who are reportedly “trying to determine if cryptocurrency could become an important part of the NFL’s business.”
Last weekend’s Super Bowl was packed with crypto ads, including the winner of a controversial gamble on Coinbase’s hopping QR code that briefly brought the exchange’s website to a halt.
Houston Rockets’ young talent Jalen Green is one of the NBA’s brightest young stars. Despite an early elimination in this weekend’s dunk contest during the NBA All-Star Weekend, Green has a bright future as an exceptional talent – albeit on a struggling Rockets team.
This week, Green announced that he is working with Coinbase — the second athlete after Kevin Durant — after the crypto exchange struck a league-wide agreement with the NBA late last year. Coinbase described Green as a “modern renaissance athlete.” Education and NFT were the initial focus areas of the two partners.
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