Over the past few years, crypto companies have significantly increased their investments in the sports space. These companies are looking to reach a global audience by sponsoring various sports and sporting events. Some of the most popular sports for crypto investments include basketball, soccer, Formula 1, and even less traditional sports like drone racing.
Crypto companies investing in sports
In recent years, crypto companies have taken the sports world by storm, investing heavily in various events and teams, such as MetaFight in MMA. These strategic partnerships aim to increase their visibility and reach a global audience. Some of these sports include:
- Basketball: Companies like Crypto.com have signed major deals, including renaming the Staples Center in Los Angeles to Crypto.com Arena for a record $700 million. Additionally, the NBA has seen several teams and events sponsored by crypto platforms.
- Football: European football has also attracted significant investment. Top clubs like Paris Saint-Germain and Manchester City have signed sponsorship deals with crypto companies, embedding logos on their jerseys and offering fan tokens.
- Formula 1: Formula 1 is another area where crypto companies have invested heavily. Teams like Red Bull Racing and McLaren have signed partnerships with crypto platforms, displaying their logos on cars and driver gear.
- Emerging sports: Less traditional sports like drone racing have also caught the attention of crypto companies looking to diversify their audience and tap into niche markets.
Genezys: the initiative to connect sports fans to cryptocurrency
Genezys is an innovative platform that aims to connect sports fans, sports clubs, athletes and crypto enthusiasts. Using blockchain technology, Genezys allows fans to acquire and collect virtual cards featuring their favorite athletes and clubs. These cards, called Fancards, are similar to traditional trading cards and offer a new way to interact with sports and support athletes.
Genezys' initiative is not limited to card collecting. The company is implementing the $GNZ token, a crypto dedicated to financing sports. This initiative allows fans to engage and support their athletes and clubs while earning $GNZ and euros, making Genezys the global reference platform for sports enthusiasts.
Crypto companies’ investments in sports continue to grow, affecting various sports and events. Initiatives like Genezys show how blockchain is revolutionizing the interaction between fans and sports. For example, Real Bedford FC invested millions in bitcoin for financial stability and to aim for the top of English football. These examples illustrate how cryptocurrencies and blockchain are redefining sports financing and marketing.
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