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Spanish Football Giant Barcelona Says no to Crypto Sponsors

Bob Mason
·3 minuto per la lettura

The world of sport and crypto continues to unite as crypto platforms look towards sizeable fan bases to build brand awareness.

In recent months, crypto exchanges have drawn media attention from sponsorship deals and ad campaigns news.

Super Bowl LVI and Crypto Ad Campaigns

This month’s NFL season finale, the Super Bowl LVI, became a centerpiece for leading crypto exchanges.

Crypto.com (CRO), Coinbase (COIN), and FTX purchased advertising airtime at the live event.

112.3 million viewers reportedly watched the LA Rams beat the Cincinnati Bengals. More significantly, a reported 103.4 million viewers watched the half-time show. The sizeable viewership was a boon for the crypto exchanges. For Coinbase, there were reportedly 20 million visits to the Coinbase webpage just 1 minute after its 1-minute ad. Advertising at Super Bowl LVI went for $7m for 30-second slots.

ANNUNCIO PUBBLICITARIO

Advertising has not been the only avenue for crypto exchanges to build brand awareness. Since last year, crypto exchanges have actively sponsored major sporting events and teams.

Crypto Platforms Become Major Team Sponsors

Crypto.com has been particularly active within the sports sector. In early December, Crypto.com had announced a sponsorship deal with U.S professional women’s soccer team Angel City FC. The exchange has also sponsored South America’s Conmebol, French football team PSG, the Coppa Italia, and Formula 1.

Binance (BNB) has also been active in the sports world. In late January, news hit the wires of Binance sponsoring the Argentine national soccer team. For Binance, the move followed previous sponsorship deals with “Italy Serie A” club Lazio.

While exchanges benefit from brand awareness, clubs can support fan engagement.

As part of the sponsorship deal with the Argentine national soccer team, Binance will develop a new Fan Token. Binance was also involved in fan engagement at Lazio. In recognition of the sponsorship deal, Binance issued Lazio fan tokens.

With Binance looking to build brand awareness to lure new investors, Barcelona FC was another Binance aspiration. In early January, the media had reported that Binance was a leading contender to become the main sponsor of Barcelona FC.

In 2021, Binance listed the Barcelona Fan Token (BAR).

According to Adrian Sanchez, Binance was in for a 4-5 year deal worth €70 million. Other names included Spotify (SPOT) and Polkadot (DOT).

Barcelona FC Says No to Crypto Sponsorship Deal

On Tuesday, Barcelona FC reportedly rejected sponsorship deals with crypto-related entities. According to the media, Barcelona FC cited a lack of confidence in the crypto sector and a lack of economic solidity as reasons for rejecting the crypto exchange offers.

The report added that the club is in the final stages of negotiations with Spotify in a deal worth €70-€75 million a season.

This article was originally posted on FX Empire

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