For their new jersey sponsorship agreement, Liverpool FC is said to be in talks with cryptocurrency companies. The Athletic published a story speculating on the possibility of a million-dollar transaction. Liverpool’s current sponsorship deal with Standard Chartered, worth more than $50 million, expires in May 2023. Even if there have been reports that the present deal will be extended, the club appears to be looking into other options.
The new sponsorship arrangement is claimed to include companies from a variety of industries, including media, tourism, and electronics. The engagement of a crypto exchange firm, which is alleged to be a component of the contract, is noteworthy. It is said that not just the exchange, but also a blockchain platform would be included.
The introduction of cryptocurrencies to the world of football is nothing new, but a premier league printing the name of a cryptocurrency firm on its shirts is. Socios is a well-known cryptocurrency company in the elite league. Arsenal, Manchester City, Aston Villa, Crystal Palace, Leeds United, and Everton are among the clubs with which the company offers fan interaction tokens.
Cryptocurrency is now practically ubiquitous. It has made a name for itself in a variety of fields. The claimed sponsorship will cement crypto’s place in the sports business. Many people perceive cryptocurrency to be unpredictable and unregulated, thus the deal may cause controversy.
NFT market, a catalyst in building Liverpool-crypto relationship
Last month, Liverpool FC released their special NFT collection. For almost a year, the club had been debating and evaluating the NFT market. Before releasing the collection, they gathered feedback from fans via questionnaires and discussion with Spirit of Shankly fans.
The club teamed up with Polygon for their first three-day sale to address environmental concerns about blockchain technology. Two NFT categories were discontinued by the club: a set of 24 one-of-a-kind ‘Legendary’ NFTs and a series of generative ‘Hero Edition’ NFTs.
The NFT was founded in collaboration with Sotheby’s in London. Some were looking forward to the plunge, while others were wary. This was primarily due to new players flooding the NFT market with worthless NFTs masquerading as gems.