It appears that the current crypto market turmoil is not affecting sports sponsorships. This is revealed from the recent sealed deal between Manchester City and OKX crypto exchange company.
Manchester City is sitting strong on the current deal they have just sealed with the digital currency exchange firm OKX. The English Premier League (EPL) champions, Man City, announced this on Monday. According to the announcement, OKX will now become the sponsor of the football club’s training kit. The sponsorship is intended to run throughout the 2022 – 2023 season.
Given that Man City came out as winners of the last EPL, the company stays in the belief that this will be a plus to its branding. Moreover, the team just signed a new striker from Norway, Erling Haaland. They believe this will create an excellent chance to scale through the coming league.
Based on the deal, the women’s and men’s collections of the training gear will have the OKX’s logo crested on them. Moreover, current previews of the training shirts are already displaying OKX’s brand name. This will continue until the end of the first half of 2023.
Based on OKX’s statement, Manchester will have four different art jobs created across it. These artworks will feature some QR codes in them. The crypto exchange platform plans to achieve this by involving the service of Akse P19, one of the renowned street artists. The Global Street Art Agency will back this up.
The idea of the QR codes is to create the winning possibility of OKX Hospitality Box season tickets for Man City fans. Also, the painting will display pictures of some players such as John Stones, João Cancelo, Haaland, and Jack Grealish.
The partnership between these two parties began about four months ago. At the time, OKX signed up as the football club’s digital currency exchange partner. The crypto exchange company had announced that it would release more fan engagement practices based on the Web3 system in the future.
Other Recent Crypto Deals
Although digital tokens are still plunging in their prices, there is also growing strength in sponsorship deals between sports and crypto firms.
This is again evident in the recent sponsorship deal between Everton, an EPL team, and Stake, a crypto gambling company. According to the news, the crypto firm has signed up to be the sponsor of the team’s match kit.
While that is yet ongoing, recent news disclosed the new development of the PSG football club. Based on the news, this team has just introduced preseason NFT (nonfungible token) tickets. These tokens go for 180.36 ETH ($207,000) and will remain on sale until Wednesday.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.