PSG signs sponsorship agreement with Crypto.com
Crypto.com – The French team that recently added football star Lionel Messi to their list of players, Paris Saint-Germain, had a very busy summer, signing agreements with crypto companies and players. In the last few days, the legendary French team has announced a new deal that will further strengthen them in the culture of digital assets.
The team announced that a new multi-year sponsorship agreement had been signed with Crypto.com. The deal is set to make Crypto.com, one of the most popular crypto exchange websites, the team’s official partner as a cryptocurrency platform. Not many deals have been officially released just yet, but what we know for now is that the partnership includes the launch of non-fungible tokens (NFT) on Crypto.com’s NFT platform. In addition, the press release states that the majority of the sponsorship agreement will be paid in the exchange’s native CRO token.
Speaking on behalf of Crypto.com, CEO Kris Marszalek said: “Our mission since day one has been to accelerate the world’s transition to cryptocurrency. We do so by finding the best partners in the world, and Paris Saint-Germain is second to none”. “Between the brand visibility, stadium and team access, and collaborative development of NFTs, I have no doubt we’ll create new and exciting experiences for football fans around the world.”
Crypto.com continues to invest in sports
Crypto.com has captured major sports sponsorships all over the sports industry. Not only did they become the official crypto sponsors of PSG, but they also concluded contracts with the Ultimate Fighting Championship (UFC), Formula 1 races, Italy Lega Serie A, and IIHF Hockey World Championship. The company became the first partner with an F1 team and the first to partner with an NHL franchise with the Canadians in Montreal.
In a statement, the director of partnerships for Paris Saint-Germain, Marc Armstrong, said: “We are delighted to welcome Crypto.com to the Paris Saint-Germain partner family. We share the same passion for innovation and the same ambition to reach the very top. With this partnership, Paris Saint-Germain demonstrates its vision and leadership as a pioneer in lifestyle, esports, and digital. It is an exciting time for Cryptocurrency, and we cannot wait to work with Crypto.com to bring new experiences to all of the club’s fans.”
Just the partnerships with Formula One and UFC alone have been reported to be valued at massive levels, more specifically $100 million and $175 million.
PSG also made significant moves to their team on the field. Adding famous names to their team and most likely making various changes that should take Paris Saint German’s game to an even higher level. The team is set to start the UEFA Champions League season with a match against Club Bruges on September 15.
What’s next to follow in the craziness of the sports – NFTs relationship?
We don’t know anything for sure yet, but things seem to be just getting started. We do not know the exact amount of the deal that PSG signed with Crypto, but it surely will be a huge value, most of it paid in the exchange’s own Crypto, CRO.
It looks like the world is starting to catch on to the value of the crypto and NFTs industry, so we should expect a lot more of this kind of headline in the future. Those partnerships have always done good both for the sports and the crypto platforms they partnered with, so it’s surely a win-win situation. Crypto.com has been investing heavily in the sports industry recently, which should add more value to CRO.
Considering all the volatility that is now happening in the markets, whether we’re set to go on a bear market for a while, or the crypto scene would recover and break the resistance points, CRO seems to be keeping up well. This kind of news has undoubtedly helped the platform’s currency gain motion and visibility from the crypto community.
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