Increased Adoption of Crypto in World of Sports
Cryptocurrencies have been front, right, and center in recent days and it is all thanks to the profitability it has garnered over the years. A large number of people show no sense of hesitation when investing in crypto because of how profitable it can be. In case you are still wondering, there have been plenty of examples that showcase how lucrative crypto investments can be. The bitcoin boom, in particular, is a shining example of making successful crypto investments.
A large number of people who made investments during the bitcoin boom period made a significant amount of money from their endeavors. Unfortunately, however, this boom did not last long. However, other cryptocurrencies came to the forefront. Like bitcoin, these newer cryptocurrencies were and still are quite profitable, but they do face volatility here and there.
Initially, the only purpose that crypto served was for trading and making investments. Now, however, things have changed entirely. This is because a large number of organizations have been adopting crypto with open arms. Walmart, Amazon, and several other organizations have been accepting payments in the form of crypto. That being said, the biggest revelation of crypto has been its transition into the world of sports.
If you ask anybody in the sports world if they thought their team would be endorsing crypto, they would mostly say no. However, things have been changing at a remarkable pace as a large number of sports are now embracing crypto. Some of the most popular sports where there is crypto presence are football, basketball, ice hockey, and boxing and mixed martial arts. Football, in particular, has seen a large number of crypto related endorsements.
Teams like AC Milan, Inter Milan, and PSV Eindhoven etc have received lucrative crypto endorsements from renowned crypto exchanges. Another case that showcases the entry of crypto into the sports world is that of the recent heavyweight boxing fight between Deontay Wilder and Tyson Fury. For those who don’t know, Deontay Wilder received a massive crypto endorsement only for donning the coin’s logo on his shorts. Although Deontay ended up losing the fight, he made an incredible amount of money.
Besides boxing, another example that shows how influential crypto has been in the world of sports is the signing of Lionel Messi to PSG. Messi has landed an incredibly lucrative contract with the Paris based club. However, what most people do not know is that his deal also involves crypto. Paris Saint Germain is among a select few football clubs that have crypto fan tokens. The club has offered these tokens to Lionel Messi, making his deal even more lucrative than before.