Staff Reporter
La Liga has secured a partnership with Bitget, one of the world’s largest cryptocurrency exchanges and Web3 platforms. According to the deal, Bitget is now the official crypto partner for Spain’s top professional football league. The multi-million dollar partnership unveiled at the Token2049 conference in Singapore highlights the relationship between the crypto and sports sectors.
Cryptocurrency has become an important part of the sporting industry with partnerships such as the Bitget and La Liga deal. Crypto offers sports lovers several functions, including forecasting the outcomes of their favorite games. Enthusiasts can visit online gambling platforms to bet on a wide array of sporting events using multiple digital assets. Via crypto, players can enjoy quick deposits and withdrawals, as well as impressive earnings and bonuses, which is why it has also become a popular way to fund casino gaming accounts too, like at Mega Dice casino.
In various sectors, crypto’s growth shows no signs of slowing down. According to reports, the Bitget-LaLiga partnership will cover the Latin America (LATAM) and East Asia regions for two years. Nonetheless, the deal will likely be significantly beneficial to Bitget as it will open the exchange to a broader audience of potential customers. Bitget has emphasized its hope that the collaboration will contribute to crypto adoption and Web3 technology in general.
In a press release, Bitget wrote that the partnership aligns with its “Make It Count” belief, which prioritizes achieving important goals through perseverance. Bitget CEO Gracy Chen explained in the release:
“Partnering with LaLiga allows us to accelerate the growth of crypto in sports, bringing new opportunities for fans and athletes alike. LaLiga’s sports spirit aligns with our belief of “Make It Count,” achieving greatness through perseverance and positive passion. We believe this collaboration will enhance the experience for over a billion people as it sets a path for broader adoption of Web3 in emerging markets.”
LaLiga executives have also expressed a desire to pursue digitalization. President Javier Tebas says that digitalization, innovation, and an emphasis on technology are priorities for the team. Also, according to Laliga’s director of International Business Development, Octavi Anoro, the deal is vital to international expansion efforts. It also shows how important the Asian and LATAM regions are to the Spanish league. By inking a deal with Bitget, La Liga hopes to get closer to its audiences in strategic markets.
The deal may also impact other Bitget endeavors, including an existing agreement with football superstar Lionel Messi. Currently, Bitget has not decided whether or not it will continue its deal with the eight-time Ballon d’Or winner. Either way, Bitget says the agreement offers the exchange an economic advantage and more freedom to expand its collaborations. For instance, Bitget has named French footballer Kylian Mbappé as a potential invitee for upcoming events.
LaLiga has previously sealed other partnerships in the crypto and blockchain sector. In 2021, the league announced a multi-year partnership with the Divi network, confirming the platform’s wallet as the official crypto wallet for the China, Southeast Asia, and MENA (Middle East and North Africa) regions. The benefits available to Divi at the time, such as access to a larger audience, are similar to potential perks for Bitget.
In 2022, La Liga announced a new system that leverages blockchain technology to track balls used to score goals. In partnership with third-party platform Gol-Ball, La Liga will certify these balls and offer them to fans by establishing secondary markets and distributing them via paid participation or raffles. This increases fan engagement and also establishes new avenues for revenue.
The deal between Bitget and La Liga is another collaboration between the crypto sector and the world of football. Last month, Singapore-based crypto exchange Crypto.com became an official sponsor of Europe’s top club football tournament, the UEFA Champions League. The exchange is re-establishing league sponsorship after previously abandoning an earlier five-year deal worth $495 million. Reportedly, there was already an in-principle agreement on the deal, which saw Crypto.com take over sponsorship from Russian energy firm Gazprom after Russia invaded Ukraine. However, Crypto.com backed out due to regulatory issues in several countries, including Italy, France, and the United Kingdom.
An official Crypto.com press release did not announce a financial value nor specify a duration for the deal. However, it mentions that Crypto.com and UEFA are now in a multi-year partnership seeking to offer fans new and unique experiences by creating memorable game moments. The two entities also plan to drive fan engagement around cryptocurrency and football. The new partnership will involve advertising campaigns, tailored broadcasts, and in-stadium activations.
Crypto.com has participated in several other sporting initiatives involving Formula 1, the UFC, and the FIFA 2022 World Cup in Qatar.
Gate.io, another cryptocurrency exchange, has also dabbled into sports sponsorships. Last month, Gate.io announced a sleeve sponsorship deal with Italian football champion Inter Milan. The agreement includes kit sponsorship, with the exchange’s logo printed on the men’s and women’s kits, and a new and innovative fan experience for supporters. Fans will also enjoy exclusive content and participate in marketing activations.
Other crypto exchanges with notable football partnerships include Kraken’s deal with Tottenham Hotspur and an agreement between OKX and Manchester City.
