DeutschFootball is known to be the (almost) most beautiful thing in the world for many people. However, the universe around the round “leather” is not only interesting from a sporting point of view. Since the breakthrough of digital currencies, it has become clear which industries are open to innovation and new technical achievements. It is well worth examining the approval and resistance in various areas of the economy. By no means all sectors of the economy are future-oriented. Internationally, for example, banks in particular are often not receptive to cryptocurrencies and the blockchain. However, Switzerland, with Zug as the so-called Crypto Valley, is once again an exception in a way. However, banks and credit institutions in other countries have so far been largely more cautious when it comes to transferring their own services and products into the digital age. Therefore, the question arises as to how well Bitcoin and football go together?
Bitcoin and Football – Interest is Growing Rapidly in all Parts of the World
The aforementioned world of football is less afraid of contact as a counter-draft. For some time now, there have been regular reports about adaptations and collaborations between clubs and providers in the crypto world. We will now take a closer look at these developments. It should be said now: The enthusiasm of many athletes (including James Rodriguez) and clubs is becoming increasingly apparent in more and more countries. It is no longer just small states or clubs in lower leagues that show a connection to Bitcoin or Altcoins.
Crypto Advertising in Football – many Companies are Seizing Their Opportunities
Stricter regulations and the orientation towards the mainstream have made Bitcoin an equally exciting and media-effective investment and means of payment. International football, but especially the top teams in Europe, are now very popular with crypto companies. So far, it is mainly internationally active exchanges such as the provider eToro that are represented on a large scale with advertising on the websites of some clubs or the advertising space in stadiums. Most recently, eToro and Premier League club FC Everton announced a new sponsorship. However, the stock exchange can boast other top clubs as partners in the highest English league with Newcastle or Southampton and some other clubs. For example, Watford FC from England is the first European professional football team to wear a Bitcoin logo on its jersey thanks to the sponsorship of Sportsbet.io. This is intended to make the digital currency better known.
Not only exchanges are getting involved in football sponsorship. In May 2019, the renowned analysis portal CoinMarketCap announced that it would financially support the Israeli Beitar Jerusalem Football Club as an advertising partner in the future. Both partners were delighted about the signing of a corresponding contract. The CoinMarketCap emblem will thus adorn the players’ jerseys. Bitcoin and football seem to have found each other here.
Voting Rights and Purchases in Club Shops with Bitcoin & Co.
Also “heavily” active in the crypto sector: France’s flagship club Paris Saint-Germain. PSG has been part of the Socios platform network since the summer of 2018. One goal of the still young blockchain platform is to strengthen the connection between the crypto world and the entire world of sports. The advantage for GSP fans is that in the future, as a member, they will be able to participate in important club decisions via specially issued coins and the blockchain. The new cryptocurrency should also be linked to a reward system. According to industry experts, other top clubs can now also imagine a digital right to have a say. In other leagues such as the German Bundesliga, however, people have so far been reluctant to address this issue. However, AS Rom has also been part of the Socios network for some time. The Roman club will now also rely on Socios’ own token Chiliz, with participation in relevant club decisions also taking center stage here.
Two Variants: Established Coins or Own Developments
Portugal’s multiple champion S.L. Benfica went one step further in early summer 2019. There, customers should be able to shop in the in-house online shop with Bitcoin and Ether. The Brazilian club Atletico Mineiro – after all, at home in the first league of the country – published a message in December 2018 about its own token called “GalaCoin”. The special feature is the coin orientation. The management did not opt for an established and correspondingly volatile cryptocurrency. Instead, the decision was made in favor of its own stablecoin with a link to the state currency Real. Anyone who acquires the coin can buy fan articles as well as tickets at sometimes reduced prices. The issue is made via the club’s “Galaclub”.
ICO as an Opportunity to Raise Capital
Numerous clubs around the world are struggling with financial worries. But not all of them prove to be as creative as Sporting Clube de Portugal (SCP). At the end of 2018, the Portuguese club hinted that it wanted to bring fresh money into the empty club coffers through an Initial Coin Offering. A corresponding application has been submitted. Debt reduction through its own cryptocurrency? Perhaps this could be a solution for many indebted teams. Provided there are enough fans who are willing to work on the preservation, the concept could work. Portugal’s football association openly stated around the announcement last year that it was already looking into the possibilities of its own ICOs anyway. In the case of SCP, in any case, it was about raising capital for upcoming bond repayments.
Income Payments in Digital Currencies?
The first announcements about the payment of salaries in cryptocurrencies have attracted worldwide interest in the crypto world over the past two years. In this point, however, it is not yet the international spearhead of football that wants to pay players with crypto coins. The team from Gibraltar United is a good example. They were a kind of pioneer in this topic, which was certainly due to the massive crypto activity of the club owner Pablo Dana. In addition, the small Gibraltar (like Malta or Cyprus) is known for an open regulatory policy, which is why many crypto companies have settled there. A salary payment completely in cryptocurrencies is a novelty in any case. Payments to players from abroad in particular should be easier to carry out in this way. This would help Bitcoin and football each other.
Bitcoin and Football? Possible Developments in the Football Business
Especially with a view to the payment options in online shops, further offers can be expected. The fact that the crypto world is leaving its niche existence due to the success of Bitcoin gives hope that there will soon be even stronger connections between international football and representatives of the crypto industry. Clubs and fans can benefit. Depending on the location of the clientele, there are sometimes problems and high fees with classic payment methods. Thanks to digital currencies, fans are in the fortunate position of being able to make payments cheaply and regardless of location. The example of the activities of the clubs AS Rom and Paris St. Germain shows which possible uses the blockchain and coins also offer. Here, own tokens could develop into a flexible alternative to shares.
In addition, the issue of own tokens allows financing with little bureaucratic effort. Bonds and other securities are far more time-consuming in this regard and are associated with high requirements. It remains to be seen whether other large clubs in the top leagues will soon leave their fears behind and seize opportunities.
So you can see, altcoins, Bitcoin and football go well together. There will certainly be a lot more to come in the future.
