Cryptocurrency exchange Crypto.com has become the official crypto partner of French Ligue 1 Football club Paris Saint Germain (PSG). The sponsorship agreement includes releasing exclusive PSG branded non-fungible tokens (NFTs) on Crypto.com’s NFT platform, and partial payment of the sponsorship fee through its own cryptocurrency tokens.
Among the top European soccer clubs, PSG is very involved with blockchain-based initiatives. It was one of the first three clubs to sign a partnership with fan token platform Socios. It is exploring innovative ways to promote the product, such as announcing partial payment of Messi’s welcoming package through fan tokens.
PSG also has a partnership with Sorare for digital player trading cards and has previously launched NFTs through partnerships such as with digital artist Ludo, and some PSG players launched their own NFT collections, such as defender Colin Dagba who launched his digital assets on platform Lympo.
Sorare’s offer is very different from other NFT products because it is based on fantasy football. However, it is unclear if PSG will partner in the future with other platforms for NFT launches, whether players will be allowed to do so, or if Crypto.com’s platform will be exclusive for all of PSG’s NFT auctions.
“We are delighted to welcome Crypto.com to the Paris Saint-Germain partner family,” said Marc Armstrong, Chief Partnerships Officer at PSG. “We share the same passion for innovation and the same ambition to reach the very top. With this partnership Paris Saint-Germain demonstrates once more it’s vision and leadership as a pioneer in areas such as lifestyle, esports and digital. ”
For Crypto.com, sponsoring PSG puts the platform on the radar of football fans. The company has been active in the sports industry and has deals with UFC, Formula 1, and Italy’s Serie A soccer. It also sponsors F1 team Aston Martin Cognizant and NHL team Montreal Canadiens.
PSG has a global following, even more so now that Lionel Messi joined the club. Sponsoring the team will expand Crypto.com’s exposure to a wider audience.
“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,” said Crypto.com co-founder and CEO Kris Marszalek, “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.”
Meanwhile, sports sponsor and digital conglomerate Rakuten, which has over 1.4 billion users, launched an NFT platform. DigitalBits and Zytara are official Sponsors of AS Roma in a 3-years $42 million.