How Peter McCormack is turning an unknown town into a Bitcoin hub
Bitcoin pitch invasion! A new Cointelegraph video examines a local soccer club’s impact on its town and national Bitcoin adoption.
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Značka: Football
Global impact of a Bitcoin soccer club: Decentralize with Cointelegraph
Can a Bitcoin-boosted football club breathe life into a tired town in the United Kingdom? This week’s “Decentralize with Cointelegraph” podcast tours Bedford.
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Spain for the win? Top 3 fan tokens to watch during the FIFA World Cup
The FIFA World Cup in Qatar is boosting the value of national soccer team fan tokens despite the cryptocurrency bear market.World Cup Qatar hype boosts fan token pricesThese digital fan tokens are currently rallying despite the cryptocurrency market downturn, securing up to 170% gains from the Nov. 10 lows. At the core of the massive uptrend is the World Cup, which will be held from Nov. 20 to Dec. 18 in Qatar.Fan tokens are cryptocurrencies that enable fans to engage with and participate in their favorite team’s decisions. Moreover, they create new sponsorship opportunities for sports clubs and national squads outside of traditional revenue sources.Here’s a brief overview of the top gainers in the fan token sector, alongside their technical outlook during the course of the World Cup.Spain National Football Team Fan Token (SNFT)The Spain National Football Team Fan Token (SNFT) emerged as the top gainer in the sports token section, rising 170% to a high of $0.54 on Nov. 19, nine days after bottoming out at $0.20.SNFT/USD daily price chart. Source: TradingViewSNFT’s outperformance versus other fan crypto tokens may reflect the Spanish football team’s higher odds of winning the World Cup in 2022. But in traditional terms, Spain’s odds of winning the trophy is +800, meaning betting $100 would yield $800, according to Vegas Insider.From a technical perspective, SNFT trades inside a neutral zone, as confirmed by its daily relative strength index (RSI) at around 58, below its overbought threshold of 70.In other words, SNFT shows potential to continue its rally during the World Cup and its price should reflect how the Spain National Football team performs.For instance, back-to-back wins for Spain may stretch SNFT’s valuation above its current resistance level of $0.538 for a potential run-up toward its record high near $0.718, as shown in the four-hour chart below. SNFT/USD four-hour price chart. Source: TradingViewConversely, a pullback from $0.538 could have SNFT eye a correction toward $0.412, down about 18% from today’s price.Spain will next play Costa Rica on Nov. 23 in the Group E category, followed by a standoff against Germany on Nov. 28.Brazil National Football Team Fan Token (BFT)The Brazil National Football Team Fan Token (BFT) appears to be the crypto market’s second favorite fan token. Its price has rallied 130% in just nine days, from $0.45 on Nov. 10 to over $1 on Nov. 19. BFT/USD daily price chart. Source: TradingViewBrazil is the favorite to win the World Cup this year with +350 odds in traditional betting circles, meaning a $100 bet would return $350. That could serve as a fundamental factor behind BFT’s growth in the coming weeks, given the token still has room to run based on its neutral daily RSI.As of Nov. 19, BFT eyes a breakout above $1.05, its current resistance level, toward its short-term upside target at around $1.16. An extended rally could occur if Brazil wins the World Cup on Dec. 18, paving the path toward $1.31, up 25% from today’s price.Related: Metaverse community with 3M users adds utility with FIFA World Cup 2022™ collaborationConversely, a pullback would risk sending BFT toward $0.82, its October 2022 support level.Brazil’s first match is against Serbia on Nov. 25 in Group G, followed by a standoff against Switzerland on Nov. 28.Portugal National Team Fan Token (POR)The Portugal National Team Fan Token (POR) is the third-best performer in the ongoing fan token boom, rising about 100% to $6 on Nov. 19, nine days after hitting lows of $3.10.POR/USDT daily price chart. Source: TradingViewTraditional bookies measure Portugal’s odds of winning the World Cup at +1600, meaning betting $100 would yield about $1,600.POR now tests $6 as its resistance, with its daily RSI near 64, just six points below its overbought threshold. A decisive pullback from the said price ceiling could have POR eye a correction toward $4.80, its support level from September-October 2022.Conversely, continued success in the World Cup for Portugal may flip the scenario to bullish, leading POR above its $6-resistance to eye a rally toward or above $7.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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Blockchain infrastructure firm Chain will sponsor New England Patriots football team
Chain, a blockchain infrastructure firm that offers developers Web3 services to build and maintain blockchain-based applications, will sponsor the New England Patriots football team as well as other venues and sporting clubs controlled by the Kraft Group.In a Thursday announcement, Chain said it will be the official blockchain and Web3 sponsor of the Patriots, the New England Revolution soccer club, Gillette Stadium in Massachusetts and the shopping center Patriot Place as part of a multi-year partnership deal with Kraft Sports + Entertainment, the marketing and events division of the Kraft Group. Chain will work to develop Web3 experiences for visitors to Gillette Stadium and Patriot Place by “merging the physical with the digital.”Speaking to Cointelegraph, a Chain spokesperson declined to comment on the monetary details behind the partnership. They hinted that the Web3 fan experience was tied to the firm “recently [selling] out a historic NFT project with a global luxury retailer.”Chain said it offered products including Ledger, Cloud and nonfungible tokens as a service. The firm acquired Measurable Data Token (MDT) and its ecosystem products for $100 million in July, which included blockchain oracle MeFi and cashback app RewardMe.Many of the reactions from Crypto Twitter on the Patriots’ sponsorship seemed to be positive, but some questioned how blockchain technology would contribute to fans’ experiences.As an honest, lifelong Patriots fan, I’m super excited and happy to see that you’re embracing web3!— Trevorwhatever.eth (@Trevorwhatever4) September 22, 2022Related: Sports sponsorship is helping legitimize crypto in Australia — Coinjar execProfessional sports organizations both in the United States and abroad have seen major funds flowing in with crypto sponsorships. Crypto.com inked a $700-million deal to rename Los Angeles’ Staples Center in 2021, later signing a five-year sponsorship deal with the Australia Football League for $25 million and becoming one of the official sponsors of the FIFA World Cup in Qatar. However, the exchange also reportedly backed out of a roughly half-billion dollar agreement with the Union of European Football Associations Champions League in September. Cointelegraph reached out to the Patriots, but did not receive a response at the time of publication.
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The Real Deal? Peter McCormack's Bedford Bitcoin Bet scores more than goals
The Bitcoin Standard has many formations. For some, selling all possessions and living off magic internet money is key; for others, it’s about sweeping every spare penny into Satoshis. For popular podcaster Peter McCormack–an avid football fan–it meant buying his local club and signing Bitcoin (BTC) onto the team sheet. Bitcoin advocate McCormack acquired his hometown football club in December 2021. He renamed and rebranded the club to Real Bedford, and at the ground, Bitcoin qualifies as payment for shirts, drinks and tickets. But with the price of Bitcoin wallowing in the $20,000s, can the ethos behind a falling currency transform a football club’s future? And more importantly, why has this lower league club caught the attention of Bitcoin advocates around the world? Pitchside, Cointelegraph caught up with McCormack, local fans and Bitcoiners on the first match of the season which was streamed to hundreds of Bitcoiners around the world. [embedded content]Ever since he was a boy, McCormack dreamed of buying Bedford Town, the local football club. “Bedford could support a team in the Fooball League,” he told Cointelegraph. He ended up buying the lesser local team, Bedford Football Club which plays in the Spartan South Midlands Football League. At six leagues below the English Football League (EFL), the footballing ladder for Real Bedford towers high above. McCormack jokes that playing in the Premier League is more of a wind-up–at least for now. Nonetheless, while footballing achievement is crucial for promotion, the biggest challenge the club currently faces is that “the team’s sponsors are Bitcoin companies.” The post-match interview spot is entirely crypto sponsors.In somewhat surreal scenes, adverts for Bitcoin-friendly brands including Casa, Gemini and Compass Mining plaster the billboards surrounding the stadium, while match day kits also feature crypto companies. However, with the Bitcoin bear market in full swing, there’s a risk these companies are in trouble. “At some point towards the end of the season, I need to go back to them, say, look, we delivered, hopefully, hopefully, hopefully we’re promoted, and it’s all going very well, but I need to go back and say, okay, we need to go to the next level. Okay, I need you to sponsor again.” Some local fans were bemused by billboard Bitcoin advertisements that enclosed the pitch; others were keen to ask where to get their hands on Bitcoin. Despite the Bitcoin-centric approach, fans Cointelegraph spoke to place greater weight on the manager’s impact than the impact of the club putting “bitcoin at heart.” In essence, Chairman McCormack has financed the team; now it’s time for the manager to galvanize the team and inspire the athletes. To their credit, the team has enjoyed excellent pre-season results. Real Bedford drew with teams several leagues above and the squad is top of the league table at the time of writing. The manager, as well as some key players, transferred from local rivals Bedford Town FC before the season, despite that Real Bedford sits two leagues lower down the English footballing pyramid. Plus, McCormack jokes there are more people attending the pregame Bitcoin meetup than attending match days last season.Building a community is one of those important things for our club. We had 273 at the game today, a huge increase on last season.Thank you to everyone who came out for the game, bought merchandise and supported the lads. pic.twitter.com/s5mCOXO5o2— Real Bedford FC (@realbedford) August 6, 2022Bitcoin Gandalf of Braiins Bitcoin mining company, who attended the game, summed up the atmosphere: “The fact that there are people coming from all around the U.K. and even Europe to watch a lower league team primarily because they are the first club to run on a Bitcoin standard is a testament to what a paradigm-shifting technology Bitcoin is.”Bitcoin meetup participants varied from seasoned node runners to newcomers. One lady asked, “Who controls mining?” while some enthusiasts performed their first peer-to-peer or Lightning Network transaction. The Bitcoin “₿” is hard to miss at the club, while the reach of the lower tier league club is global. Fans in Amsterdam and Minnesota have bought merchandise for the lower league club. Real Bedford supporters spotted on the streets of Amsterdam. Source: BTC Magazine YoutubeAt the clubhouse, meanwhile, Bitcoin-backed bonuses for goalscorers were brought up. Daniel Prince, a fellow Bitcoin podcaster, suggested sharing Bitcoin QR codes specific to players on the live stream. It would allow Bitcoin and football fans around the world to “tip” players in real-time–say when a player scores a goal or wins a challenge. “It’s proof-of-work in action,” Prince explained.Despite McCormack’s Bitcoin-first focus, players still dabble in altcoins. The season’s top goal scorer, Dan Walker, told Cointelegraph that he made good money tinkering with “smart DeFi protocols” in 2022. Granted, “Bitcoin is the future,” he explained, but he didn’t have any Bitcoin on match day while his salary is paid in Great British pounds sterling. Bitcoin aside, the passion McCormack harbors for his local town is infectious. He pours his heart and soul into the team–and by proxy the town. The team’s football t-shirt merely says “₿edford” — as opposed to Real Bedford — signaling the intention to put his hometown on the Bitcoin world map. El Salvador exploded onto the scene by way of Bitcoin adoption, so maybe Bedford could also ride that wave.In a post-match interview, McCormack told Cointelegraph he would much rather have a pint in the local pub than a big one in Las Vegas, and it’s Bedford over Texas every day of the week, despite Texas’ taste for Bitcoin. Plus, Real Bedford’s promotion means far more to him than Tottenham Hotspur’s relegation. Tottenham Hotspur, a London Premier League club, are staunch enemies and often the butt of McCormack’s jokes.Related: Oxford City Football Club to accept Bitcoin for matchday ticketsLocals also commented to Cointelegraph that there’s more to McCormack’s character than magic internet money: He’s the first to lend a hand and support the community. True to form, McCormack could be found handing out drinks, wiping down tables and greeting fans on match day — most if not all of whom he knew on a first-name basis.It’s short-sighted to call the team and the transition to a Bitcoin Standard a success. Nonetheless, with 3-0 and 7-1 results to kick the season off, combined with lively Bitcoin meetups and a growing turnout of fans, there are encouraging signs that Bitcoin is setting the standard.
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Fake Manchester United token soars 3,000% after Elon Musk jokes about buying team
Manchester United Fan Token (MUFC) is a dead coin and not related to the sports franchise, but one Elon Musk tweet was enough to revive it on Aug. 17.Also, I’m buying Manchester United ur welcome— Elon Musk (@elonmusk) August 17, 2022Fake Man U token pumps after Elon Musk’s tweetTo clarify, MUFC is not an official Manchester United crypto token. It came to life in August 2021 after a team of programmers, who are said to be hardcore Manchester United fans, falsely claimed that holding MUFC would give buye influence on the football club’s decisions.The team later conducted an “airdrop” round of 10,000,000,000 MUFC in November 2021, promising to provide 10,000 MUFC to users who followed its official social media handles. The prospects of getting free MUFC tokens helped its price rally to as high as $1.But the project turned out to be vaporware, eventually leading MUFC down by 100% after November. It was deemed extinct until a tweet from billionaire entrepreneur Elon Musk on Aug. 17 revived it from oblivion.The Tesla CEO tweeted that he would buy the Manchester United football club, which he later admitted was a “long-running joke.”No, this is a long-running joke on Twitter. I’m not buying any sports teams.— Elon Musk (@elonmusk) August 17, 2022
Nonetheless, the message sent the financial assets related to Manchester United soaring, including its stock MANU, which rose 1.97% in pre-market trading, and Tezos (XTZ), the club’s official blockchain and training partner, whose market valuation surged by $138.85 million.Even Manchester City’s official crypto token, CITY, popped higher by nearly 14% to reach $7 per piece after Musk’s tweet, despite Manchester City being a different football club.CITY/USD daily price chart. Source: TradingViewOn the other hand, MUFC surged by over 3,000% hours after Musk’s tweet about buying Manchester United, according to data fetched by CoinPaprika.com. MUFC price and volume performance (last seven days). Source: CoinPaprika.com”Manchester United fan token” has zero liquidityHowever, the MUFC rally appears to be price manipulation due to extremely poor liquidity and volume. Notably, in the last 24 hours, MUFC had been trading only against two crypto assets: WBNB and USDT. While the liquidity for the WBNB/MUFC pair was mere $106.84, it was even lower for the USDT/MUFC pair at around $10, according to data from PancakeSwap, a decentralized exchange.MUFC pools statistics as of Aug. 17. Source: PancakeSwapMeanwhile, the net volume that backed MUFC’s 3,000% rally was approximately $39,000 in the last 24 hours, suggesting fewer traders behind the major upside move.MUFC volume record. Source: PancakeSwapThus, a small number of speculators likely used MUFC’s poor liquidity to artificially pump the token. The number of traders who bought the false upside narrative remains unclear, but given thatMUFC has already dropped by 50% from its local top, the prospect that its rate would return to zero is high.Related: Crypto scams fall 65% after gullible noobs exit the market: ChainalysisMeanwhile, the incident reasserts Musk’s strong influence on the crypto market, especially on memecoins like Dogecoin.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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Argentinean soccer club welcomes first crypto signing amid economic downturn
Argentina’s economic restrictions have reached the sports industry, with the first signing of a local football player with cryptocurrencies hitting national headlines.The transfer of midfielder Giuliano Galoppo from Banfield’s Athletic Club to Sao Paulo Futebol Clube was made in USD Coin (USDC), exceeding $6 million and up to $8 million depending on the volatile exchange rate of the Argentine peso, according to local sources. The transfer was made possible through a collaboration with the Mexican crypto exchange Bitso. “We are very proud to work with these two clubs for this historical signing of Sao Paulo with all the safety, transparency and flexibility that the crypto economy has to offer,” said Thales Freitas, Bitso’s director in Brazil.The transfer happened amid a difficult economic situation for Argentinian sports clubs. The reported exchange gap between pesos and dollars keeps escalating, affecting the possibility for football players to get signed by international teams and inducing them to renegotiate their contracts to adjust their salaries to the volatile dollar price.The country’s unstable economy has led to a major adoption of cryptocurrencies, especially stablecoins. The tendency toward stablecoins notoriously escalated after the shocking resignation of Argentina’s economy minister earlier this month.The practice of crypto adoption has also been replicated in sports by players and clubs alike in the country. However, this would be the first time clubs could accept cryptocurrencies as a form of payment for international transfers to regain a competitive advantage in the market for their players. Despite its novelty, the cryptocurrency transaction involving Galoppo will still be subject to regulations. According to Bloomberg, Argentine central bank sources clarified that Galoppo’s transfer is an export operation. As a result, Banfield will be forced to liquidate their USDC into local currency, pesos, using the official exchange market.On the other hand, it remains unclear how the pro footballer chooses to exchange USDC to the official exchange market directly while allowing the club to resist the central bank’s measures.Related: Blockchain, crypto set to take sports industry beyond NFT collectiblesA recent study conducted by Big Four accounting firm Deloitte revealed the potential of the crypto ecosystem in redefining revenue streams and fan engagement across the sports industry. The report anticipates crypto to bring about a nexus “around sports collectibles, ticketing, betting, and gaming.” For example, with nonfungible tokens (NFTs), the sports industry can introduce initiatives around fractional ownership, which could spark the reinvention of the ticket resale process.
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ALGO price in danger of 25% correction despite Algorand–FIFA partnership hype
Algorand (ALGO) prices rallied higher on May 3 after becoming FIFA’s official blockchain solution provider. Nonetheless, the ALGO/USD pair continues to face selloff risks.High-profile partnershipALGO’s price jumped 20% to $0.74, its highest level since April 22. Its move upside came as a part of a broader rebound that started April 30, gaining 37.5% in just three days of trading.ALGO/USD daily price chart. Source: TradingViewAs visible in the chart above, a large portion of the ALGO’s upside move took cues from the FIFA’s announcement. Late Monday, the official football governing body revealed that it had teamed up with Algorand to develop its “digital assets strategy,” beginning with a wallet solution.It also confirmed making Algorand its “regional supporter” in North America and Europe during the next football World Cup in Qatar in November and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor. Just bought some more #algorand to celebrate the fifa news. Transferred to my wallet. Before I could even open the pera app is was already there. Smoothest blockchain I’ve been apart of. Algorand in the future.— Chris (@chris__aoki) May 3, 2022The ALGO token is a native cryptocurrency within the Algorand blockchain ecosystem, incentivizing network participation and power transactions or state changes.3.5 Billion people watched the 2018 #FIFA World Cup, with over 1 Billion tuning in to the final match. The most watched Super Bowl ever drew 114 Million viewers. Algorand is the first new American sponsor since 2011. $Algo #Algorand ⚽️ https://t.co/MKpEhiyEKP— vanbrooks.algo (@Royal0ui) May 2, 2022
ALGO price fails to break key resistanceThe latest bout of buying in the Algorand market showed signs of faltering as ALGO reached a critical resistance confluence.ALGO’s price corrected by nearly 8% after hitting its intraday high near $0.74. Interestingly, the peak level is close to the token’s 50-day exponential moving average (50-day EMA; the red wave in the chart below) and a support-turned-resistance area.ALGO/USD daily price chart featuring resistance confluence. Source: TradingViewRelated: Institutional investment flows out of ETH and into competing L1 altcoinsAdditionally, the $0.74-level also coincided with the upper trendline of a descending channel pattern, raising ALGO’s possibility of undergoing a pullback move toward the channel’s lower trendline (near $0.50 or lower) in Q2.ALGO/USD daily price chart featuring breakout setup. Source: TradingViewConversely, a break above the resistance confluence could have ALGO eye a run-up toward $1, which coincides with the 0.236 Fib line of the Fibonacci retracement graph, drawn from the $2.38-swing high to $0.56-swing low and the token’s 200-day EMA (the blue wave in the chart above).The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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What major sports are paying athletes in crypto?
After suffering significant losses due to issues stemming from the COVID-19 pandemic, the sports industry has turned to crypto to recoup its losses and help fans stay connected with clubs in today’s socially-distanced world.Over the past 18 months, countless deals and sponsorships have been reported between Web3 projects and sports teams, and if things go as planned, this might be just the tip of the iceberg for these two industries.With the prices of Bitcoin and memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) exploding, projects are starting to realize the importance of a loyal community and are making all the necessary moves to build and sustain a devoted fan base — something sports teams have had figured out for some time now.Crypto.com and Coinbase spent $6.5 million on 30-second ad spots during this year’s Super Bowl. One sports analytics firm even claims that crypto deals in the sports world are expected to cross $5 billion in revenue by 2026.For the fansWhen the word “crypto” is used in sports, it doesn’t just refer to regular cryptocurrencies but also to nonfungible tokens (NFTs) and fan tokens, which athletes and clubs create to increase fan engagement. These tokens allow holders to gain exclusive benefits such as voting on the song to be played at the stadium before a match begins. Besides fan tokens, the sports betting landscape is also getting much attention from the blockchain industry. With crypto sports betting, people can bet on the outcomes of sports events or league rankings, paid out in cryptocurrencies such as Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). While this might not sound revolutionary, it has a significant impact on cryptocurrency adoption.Crypto sports betting allows for a safer betting experience for sports fans so that sportsbooks can enjoy enhanced security, something that traditional betting methods failed to provide. Moreover, since cryptocurrencies can be accepted virtually everywhere, people from across the globe can participate.NFTs have proven quite a lucrative investment in the world of sports. NBA star LeBron James sold a video of himself performing a reverse-windmill dunk for over $100,000 as an NFT, and that’s far from the only example of athletes cashing in on the NFT hype. There’s even an entirely separate marketplace for it.NBA TopShot is an NFT platform that lets people “own basketball’s greatest moments” as NFTs, and in less than a year, the platform has earned over $700 million in sales. Additionally, various sports teams have also released their own NFT collections, with San Francisco NBA team Golden State Warriors being the first.Owning your salaryThe trend of paying athletes’ salaries in crypto, all or in part, became much more prevalent after the total token market cap crossed $3 trillion in 2021. The NFL’s Odell Beckham Jr. was one of the first players who agreed to take his $750,000 salary in Bitcoin. A potentially significant reason for players accepting these deals is the rising inflation rate of the United States dollar, which effectively decreases the value of their paycheck over time.Saquon Barkley, another athlete who said he’d be taking all endorsements in Bitcoin, spoke to Best Business Show host Anthony Pompliano, explaining his decision. “You see inflation, you see how high it is right now and you learn that you can’t save yourself to wealth. That’s why I’m going to be taking my marketing money in Bitcoin.”Here are some other athletes getting paid in crypto:Russel OkungWhile playing for the Carolina Panthers in 2019, Okung demanded he is paid in Bitcoin. Shortly afterward, he became one of the first-ever athletes in major American sports to be paid in cryptocurrency. He converted his $13 million salary into BTC via the crypto wallet Zap. Bitcoin’s price was around $27,000 when Okung converted his salary.Russell Okung with the Denver Broncos in 2016. Source: Jeffrey BeallTrevor Lawrence After signing a contract with Jacksonville Jaguars, 21-year-old Trevor Lawrence converted his signing bonus into cryptocurrency. Lawrence will be paid via the cryptocurrency app Blockfolio in Bitcoin, Ether and Solana (SOL). The deal’s terms haven’t been publicly revealed, but his bonuses are estimated to be worth around $24 million. Aaron Rodgers Aaron Rodgers, Green Bay Packers quarterback, announced on Twitter last year in November that he would be taking part of his salary in Bitcoin, partnering with mobile payments platform Cash App. At the time, Rodgers’ contract was paying him an annual salary of $33.5 million. Along with the announcement, Rodgers also mentioned that he “believes in Bitcoin” and that “the future is bright.”Aaron Rogers with the Green Bay Packers in 2021. Source: All-Pro ReelsSean CulkinKansas City Chiefs tight end Sean Culkin is taking his $920,000 salary in Bitcoin through the Strike cryptocurrency app. He released a statement saying, “Considering my career — particularly its physical demands and brevity — it makes the most logical sense to be paid in sound money that I believe protects its purchasing power over time.”Shohei OhtaniLos Angeles Angels baseball superstar Shohei Ohtani took a stake in the cryptocurrency exchange FTX and will be working as a global ambassador for the company, receiving his compensation for the partnership entirely in crypto. For his contribution to the company, FTX has dubbed him “The Great Cryptohtani.”Cade Cunningham NBA rising star Cade Cunningham signed a multi-year deal with cryptocurrency platform BlockFi in 2021. As part of the deal, Cunningham will collaborate with BlockFi to produce educational videos while participating in promotional giveaways and exclusive interviews. Cunningham has an annual salary of around $10 million, but it’s unclear how much he’ll be getting paid in crypto through his partnership with BlockFi.Andre IguodalaNBA star Andre Iguodala took to Twitter earlier this year to announce that he’d be taking part of his salary in Bitcoin. The Golden State Warriors player partnered with Cash App to convert his salary into cryptocurrency, and he even said he’d be giving away $1 million worth of Bitcoin to his fans. I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp— andre (@andre) January 10, 2022Athletes getting paid in cryptocurrency would’ve been inconceivable three years ago, but the world is at a stage where it’s difficult to ignore blockchain technology’s potential. Players getting paid in cryptocurrencies genuinely believe in the technology and that blockchain will find its place within our global financial system. As Web3 marches on through its ideation phase, we should continue to see crypto payment methods evolve. People value safety, speed and control, above all else, and crypto provides all three. This could explain why the demand for getting paid in crypto is growing, especially among the wealthy young.
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Crypto.com becomes official sponsor of 2022 FIFA World Cup in Qatar
FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be an official sponsor of its next World Cup in Qatar.In a Wednesday announcement, the association said Crypto.com’s branding will appear both inside and outside of stadiums for the FIFA World Cup Qatar 2022 scheduled to begin in November. The crypto exchange will provide opportunities for its users to attend matches and win official merchandise as part of the sponsorship.According to FIFA chief commercial officer Kay Madati, the deal will help grow the games “on a global scale,” citing Crypto.com’s partnerships with other entities around the world. In November, the exchange inked a deal to rename the Los Angeles-based sports and entertainment venue Staples Center to the Crypto.com Arena for 20 years. Crypto.com has also partnered with the Australia Football League in a $25 million deal, signed a $100-million sponsorship agreement with Formula 1 and inked a 10-year $175 million sponsorship agreement with the Ultimate Fighting Championship. Though trading cryptocurrencies including Bitcoin (BTC) has been largely illegal in Qatar since the country’s central bank announced a ban in 2018 — and reaffirmed in January 2020 by the Qatar Financial Centre Regulatory Authority — Crypto.com is likely to reach a more international crowd given the popularity of soccer on the world stage. FIFA reported that more than 3.5 billion people watched the 2018 FIFA World Cup in Russia, with more than a billion watching the final between France and Croatia.Related: Penalties and extra time: The scoreboard for soccer club crypto dealsWith less than eight months until the World Cup begins, the event has been shadowed by allegations of corruption and bribery going back to the bidding process for Qatar 2022. In April 2020, the United States Department of Justice indicted three individuals connected to “the payment and receipt of bribes and kickbacks” for FIFA’s selection of countries to host the World Cup, including in Russia in 2018 and the upcoming tournament in Qatar. In addition, the international non-governmental organization Human Rights Watch has alleged abuse and slavelike conditions for workers hired to build the infrastructure for the event.Of course #FIFA wants to develop football in #Qatar – it’s an endless stream of revenue right into their pockets, never mind #corruption, human rights abuses, and everything else. https://t.co/OEMXjkxjxC— Irina Tsukerman (@irinatsukerman_) March 22, 2022
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Crypto.com airdrops LeBron James NFT collection to eagle-eyed Super Bowl ad viewers
The Crypto.com exchange announced the airdrop of its “The Moment of Truth” nonfungible token (NFT) collection featuring Los Angeles Lakers forward LeBron James to 5,550 randomly selected viewers of its Super Bowl commercial. Those who found and scanned a hidden QR code that appeared 10 seconds into a conversation between present-day James and his apprehensive teenage self could enter to win a limited edition NFT. The collection consists of instant snapshots of behind-the-scenes moments from the making of the Big Game spot.Introducing “The Moment of Truth” NFT Collection featuring @KingJamesAirdropping to a random selection of sleuths who found the hidden QR code in our Big Game SpotCheck out the collection https://t.co/Y0grpA8tme pic.twitter.com/lbEtdD60r3— Crypto.com (@cryptocom) March 9, 2022″Sleuths” who scanned a QR code that appeared for a split second on screen followed it to a “secret” webpage and had the chance to sign up for the Crypto.com NFT platform until the Friday after the Game. Lucky fans will be airdropped one of 5,550 total NFTs for free; the drop is made up of 15 NFTs that come in 3 tiers with varying editions.Crypto.com partnered with LeBron James and the LeBron James Family Foundation, or LJFF, to collaborate on educational and vocational opportunities focused on Web3. According to a statement, the partnership will give students and families in LeBron James’ hometown of Akron, Ohio access to tools and resources to learn about blockchain technology and potential career paths in crypto.“I want to ensure that communities like the one I come from are not left behind,” said LeBron James, adding that him and Crypto.com are “aligned on the need to educate and support my community with the information and tools they need for inclusion.”The NFTs part of the airdrop are not for sale by Crypto.com. 5% of any NFTs re-sales, whether on the Crypto.com NFT platform or other secondary exchange, will go to the LeBron James Family Foundation as royalties.Related: Crypto.com gives users in excluded countries one week to repay loansLeBron James is part of Crypto.com’s long roster of celebrity partners that includes Matt Damon whose own commercial has been subject to criticism. The exchange also recently partnered with the LA-based women’s sports team, the Angel City Football Club.
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Penalties and extra time: The scoreboard for soccer club crypto deals
The world’s most popular sport suffered an own-goal as European clubs canceled their partnerships with Bitci, a Turkish crypto exchange. However, plenty of substitute crypto companies are on the bench, ready to bring crypto to the mainstream through soccer.Growing yet unclear cryptocurrency regulations in Turkey have reportedly hampered the company’s ability to make payments, leading to a lack of confidence among major soccer clubs.Portugal’s Sporting CP — the green-and-white-striped footballers famed for being the club where Cristiano Ronaldo cut his teeth — and Italian Serie A club Spezia have also canceled their partnership with Bitci. The F1 powerhouse Mclaren Racing terminated its sponsorship deal with Bitci earlier in February.Barcelona also recently announced that it would favor a partnership deal with Binance over Spotify despite the launch of its fan token in April 2021. While it would appear that crypto and soccer partnerships are down to 10 players, deals, enthusiasm and sponsorships for crypto among football clubs are an open goal.Of England’s 20 football clubs, 17 have at least one deal with a cryptocurrency firm. For Watford soccer club, not only does Dogecoin (DOGE) appear on the shirtsleeve, but Stake.com sponsors the main body of the shirt. Dogecoin and Stake.com on Watford FC football shirt. Source: DWEighty miles Southeast of Watford, in Southampton, “the Saints,” as they are known locally, launched a Bitcoin (BTC) hunt on Wednesday. In partnerships with crypto betting site Sportsbet.io, the online quiz winner takes home a whole BTC.Still in England, Bitcoin podcaster Peter McCormack sparked the beginnings of an English underdog story as he bought his local club Bedford FC. He’s keen to take on the Premier League with the help of Bitcoin and its community. While Crypto.com recently renamed the American football stadium in Los Angeles from the Staples Center to the Crypto.com arena, in Italy, the entire football league is sponsored by the cryptocurrency giant.Elsewhere, fan tokens are also growing in popularity among European football fans. As Cointelegraph reported, blockchain sports firm Chiliz has caught the eye of major football clubs, while the Socios platform announced a deal with UEFA.The Inter Milan fan token appearing on the shirt. Source: Inter.itRelated: Touchdown! Goal! Knockout! Crypto and sports collide in 2021While a crypto sponsor for a European national team may have to wait until next season, the Argentine team was the first national soccer club worldwide to take on a crypto sponsor. Binance recently partnered with the white and sky blues. Finally, as European soccer waits for a national team to be sponsored by crypto, in rugby football, the Bitpanda crypto exchange now sponsors the Azurri. The exchange made the announcement ahead of Italy’s clash with the Six Nations rugby teams in January.Ciao ragazzi! We are proud to announce that we will be the main sponsor of @Federugby, the Italian Rugby Federation. So, @SixNationsRugby fans, get ready to spot our logo whenever gli Azzurri are playing!Find out more: https://t.co/JVBrA641hF pic.twitter.com/LGgKphmL0s— Bitpanda (@bitpanda) January 20, 2022
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