Football is by far the most popular sport on the planet. Over 3.5 billion people watched the last football World Cup event held in Russia in 2018. This demonstrates that football is popular with around half of the world’s population. Football teams are already using blockchain to offer improved fan experiences. Partnerships with these football teams via blockchain will provide new economic options. It will also allow them to reach a larger audience through partnerships with the industry’s global brands. Chelsea Football Club has agreed to a £20 million shirt-sleeve sponsorship contract with a digital asset platform as the Premier League club prepares to exit the Roman Abramovich era. According to a person familiar with the situation, WhaleFin, a cryptocurrency trading and lending platform has agreed to sponsor the London team beginning next season. Do Cryptocurrencies Make Sense For Sports Teams? The adoption of cryptocurrency in the sports industry is not a new phenomenon. According to GlobalData, crypto businesses spent more than $107 million on sports sponsorship deals in the first half of 2021. “2021 was a watershed year for the crypto industry. There were 49 new partnerships struck last year between cryptocurrency companies and rights holders in the sports business,” Patrick Kinch, Sports Analyst at GlobalData, stated in July 2021. Watford FC announced that their new shirt sponsorship contract’s payment would be in crypto...
