Seychelles-based trading platform OKX has entered into a long-term contract with English football club Manchester City.
The exchange will become the official partner of the reigning champion of the English Premier League “on the exchange of cryptocurrency.” We are talking about cooperation with men’s, women’s, e-sports teams of the Manchester City club.
The contract stipulates the advertising presence of the cryptocurrency platform at two Manchester City stadiums – the Etihad with 55,000 seats and the Academy with 7,000 seats – as well as cooperation in future projects.
The financial terms of the deal were not disclosed, but a Forbes source estimates the deal with the sixth-most expensive football club in the world with a capital of $4 billion at several million dollars annually.
In February, Manchester City Football Club said it would partner with tech giant Sony to create a digital map of the Etihad’s home stadium and build a virtual replica of it in the metaverse. The virtual stadium must accommodate an unlimited number of fans. In addition, hosting football matches on a virtual venue can change the way broadcasting rights are distributed, which will positively affect the income of a football club.
Recently, the leadership of the Spanish club Barcelona announced plans to issue its own cryptocurrency to counter clubs owned by corporations and large investors. The club plans to launch several NFT collections, and is also working on a full-fledged entry into the cryptocurrency market. The football club received many proposals for cooperation from various cryptocurrency companies, but the management rejected them, as they are going to create their own cryptocurrency and metaverse.
At the same time, not all sports organizations manage to establish cooperation with the crypto business. In January, football fan token operator Chiliz blocked a sponsorship agreement between the Argentine Football Association (AFA) and the Binance exchange in arbitration.
Source: Bits
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