August 21 – Online trading platform eToro, is using Bitcoin to pay for its sponsorship partnerships with seven Premier League clubs, the first time a club sponsor has paid for marketing inventory using cryptocurrency.
eToro will receive a range of markeing assets including player access, digital rights, tickets, LED perimeter boards and interview backdrops.
The deal, which took six months to put together and was negotiated by marketing agency SportQuake, includes Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City.
Iqbal V. Gandham, UK Managing Director at eToro, said: “Today’s announcement is the first step on a long road to football fully embracing blockchain technology. The blockchain technology that underpins crypto currencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionise the world of football. In terms of our strategy, we wanted eToro to be seen as a Premier League player and not just working with a single club.”
eToro, founded in 2006, has more than 10 million customers across 100 markets to its investment platform that enables investors to but investments ranging, from cryptoassets to stocks and commodities.
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