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Cryptocurrency’s Influence In Football

Cryptocurrencies continue to go from strength to strength in the mainstream arena. This technology is extremely adaptable and as a result, is now influencing all industries as well as sectors of the economy.

Therefore, people will not only be able to take advantage of the having a secure Luno Bitcoin wallet to purchase near enough anything, but will also see cryptocurrencies being used to rent hard drive space to the Cloud.

Football is another area where we may not immediately associate cryptocurrencies with, but this is all beginning to change. The Beautiful Game is one of the most popular sports on the planet, and transfers are one of the reasons why it’s so exciting. Players transferring from one club to another create massive talking points, and cryptocurrencies are starting to influence this area of the game. Turkish outfit Harunustaspor used Bitcoin to complete the signing of Omer Faruk Kiroglu, making them the first team to use Bitcoin when making a transfer.

Sponsorship is significant in football, especially when it comes to clubs operating in the world’s most popular leagues. Brands can use shirt sponsorships to get their name out to millions of viewers around the globe, and we already see cryptocurrency and blockchain companies take advantage. Clubs such as Leicester City have penned sponsorship agreements with these types of businesses, with more set to follow as cryptos infiltrate the online gambling sector.

Football has now got to a stage where football players are no longer just that; they’re celebrities and brands. They have huge social media followings and the ability to influence their fans, and we’ve now seen players turn to cryptocurrencies as they look to capitalise on its continued growth. James Rodriguez, a Columbian midfielder who is amongst the best in the world, has released his crypto brand, which has already generated a lot of interest. Some footballers are going down the mining route too, investing their wealth into the cryptocurrency trend.

As well as players starting their brand of cryptocurrencies, clubs are also doing the same, and it’s some of the world’s top outfits getting involved. The likes of PSG and Juventus have already struck a deal for their cryptocurrency with blockchain companies, and this will see fans of clubs taking this approach, able to purchase the tokens which provide voting rights and exclusive rewards and content.

Fans will, of course, benefit from football embracing cryptocurrencies and in multiple ways. Football tickets have already been sold using blockchain technology, such as when Real Madrid and Atletico Madrid faced off in Tallinn in the 2018 Super Cup. Ticket touting has been a constant thorn in the side of football, and cryptocurrencies, blockchain technology and the respective apps make buying tickets more secure, preventing ticket duplication.

Football has always been a sport keen on embracing the new, and its approach to cryptocurrencies and blockchain technology is evidence of this. Everyone will benefit from its implementation within the game, from clubs and players through to supporters, and therefore so many are keen to get involved. With the sport’s biggest clubs and players already showing their hand, cryptocurrency’s influence in football will only continue to grow.