Revolutionizing Sponsorship: Cryptocurrency and Blockchain Companies are Partnering with Major Sports and Entertainment Ventures

The world of sponsorship is evolving rapidly, and as an avid sports fan like myself, you can't help but notice the prominent presence of sponsors everywhere.

I enjoy watching a wide range of sports, from Rugby, Cricket, Tennis, and Mixed Martial Arts to Boxing, F1, darts, and bowling. If it's broadcasted on television, I'll even watch chess.

In recent years, it's become clear that crypto and blockchain companies are making significant efforts to increase their visibility. They aim to raise public awareness of the successes and transformative impact the crypto industry is having on the world.

Image Credit - MMA Fighting

Here are a few examples of large sponsorships in recent years.

1. UFC and Crypto.com:

Details: In July 2021, the UFC (Ultimate Fighting Championship) signed a 10-year, $175 million sponsorship deal with Crypto.com. This deal includes Crypto.com branding on UFC fight kits worn by athletes and corner staff during fights, as well as on the UFC's in-arena signage and broadcast features.

2. VeChain and UFC:

Details: In June 2022, VeChain, a leading blockchain platform, became the first-ever Layer 1 blockchain partner of the UFC. This multi-year deal includes VeChain's brand being integrated into various UFC assets, including live events, broadcast features, and digital content.

3. FTX and Major League Baseball (MLB):

Details: In June 2021, cryptocurrency exchange FTX became the official cryptocurrency exchange brand of MLB. The deal includes FTX's logo appearing on all umpire uniforms in MLB games, a first for any professional sports league.

4. Crypto.com and Formula 1:

Details: In June 2021, Crypto.com signed a $100 million sponsorship deal with Formula 1. The partnership includes Crypto.com branding on trackside assets at all Formula 1 races and integrating the company's technology into various aspects of the sport.

5. Coinbase and the NBA:

Details: In October 2021, cryptocurrency exchange Coinbase became the exclusive cryptocurrency platform partner of the NBA, WNBA, NBA G League, NBA 2K League, and USA Basketball. This multi-year partnership includes a significant presence across all NBA platforms.

6. Tezos and Red Bull Racing:

Details: In May 2021, Tezos, an energy-efficient blockchain, partnered with Red Bull Racing. The deal includes Tezos branding on Red Bull Racing cars and team kits, as well as the development of non-fungible tokens (NFTs) on the Tezos blockchain.

Image Credit - Sportshub

These partnerships highlight the growing interest and investment of cryptocurrency and blockchain companies in mainstream sports and entertainment, leveraging these platforms for greater visibility and adoption. There are many more partnerships which can be mentioned.

Steemit has the potential to become one of the first globally adopted platforms, provided that the Steemit Leadership and Communities ensure that the platform is used appropriately. As I mentioned in my blog post yesterday, Steemit could easily surpass Reddit as a preferred blogging platform, as users would understandably prefer to be compensated for their content.

To achieve this, Steemit should strive to become a leading platform for creatives, news articles, and much more. With the right approach, Steemit could revolutionize the way people engage with and consume content online.

Happy Steeming!