TL;DR Breakdown
• The exchange logo will appear on the Brazilian team jerseys.
• Bitso could activate ticket payments for soccer matches in Brazil in the coming months.
Crypto companies have been using sports organizations to boost their projects and thus gain power in commerce. The Latin American exchange Bitso announced its partnership with a Brazilian soccer group as part of the crypto trading and sports wave.
According to reports, the crypto firm in South America could become the first company to join the sports world by 2022. In 2021 several companies such as crypto.com agreed with the Super Bowl or FTX with his FTX Arena project in Miami.
Crypto company targets Brazilian sports groups
There is a lot of demand for the players and clubs that make history in the sports world, but no publicity is as good as that given by the Brazilian clubs. Bitso focuses on the South American country because it is rich in sports talents, which lends itself to a powerful campaign that grows as a crypto company.
The announcements indicate that Bitso was associated with the sports team for three years and that the advertising campaign could start in the last week of January 2022. The partnership results in the sponsorship of the firm’s logo on the team’s shirt. Besides that, it will also appear in the Morumbi field in Sao Paulo.
According to an advertising agent of the firm, this company will also allow the payment of tickets with cryptos in the coming months. The project is ongoing, so Bitcoin fans in Brazil can transfer their funds for passes to watch soccer games.
Crypto exchanges dominate the sports arena
Since 2021 crypto exchanges have dominated the sports arena, starting with the FTX firm and its wonderful partnership with a sports club in Miami. Although Bitso’s expansion looks refreshing, it is only a small link compared to FTX and its lien contract to the NBA Miami Heat, which is now called “FTX Arena.” The crypto company had to pay around $130 million to own the basketball court in Miami.
But Crypto.com also agreed with the American Baseball League to have a lien on its name and call the sports field “Crypto.com Arena.” According to reports, for Crypto.com to have the MLB naming rights, it paid about $700 million.
Bitso could grow as a crypto company in Latin America and expand its operations to other areas besides Brazil. So far, the exchange has not had great prestige on the continent. However, its reputation could change after starting the advertising campaign. It is not known exactly how much the exchange paid for the advertising of the Brazilian team, but the figure may be high.
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