 as payments for their merchandize. ){kind=link}
- Multiple CBDCs will be under acceptance by London Lions.
- Before the London Lions, Dallas Mavericks were accepting payments in cryptocurrencies for their merchandize.
The partnership that has been announced between London Lions, the British basketball team club, and BitPay, the leading payment platform in cryptocurrency will let the club accept central bank digital currencies (CBDC) as payments for their merchandize.
Popular cryptocurrencies like XRP and Dogecoin (DOGE) will also be accepted here. Through the adoption of these digital assets, London Lions will try to bridge the gap between the crypto market and sports innovatively which was scarce at the start.
This step of both parties showcases the time of collaboration and working of sports and crypto together. It can be termed as following the footsteps of the Dallas Mavericks.
Dallas Mavericks and NBA Partnership
The Dallas Mavericks has been actively accepting cryptocurrencies. It is in partnership with the National Basketball Association (NBA). The Mavericks have recently announced a partnership with Voyager Digital (VD).
Founded in 2018, VD is one of the rapidly growing and publicly traded cryptocurrency platforms in the U.S. A partnership of five years was agreed upon. Voyager became the top international partner and cryptocurrency broker.
According to Forbes, “Mavericks fans are of all games, it just wants the partnership to be a splendid partnership to involve all of Dallas. I think working together will be in the foreground of innovation. The partnership will come up with new techniques to introduce Mavs fans to cryptocurrencies,” said Mark Cuban, Governor of Dallas Mavericks at an official conference.
A Partnership between London Lions and BitPay
The partnership between London Lions and BitPay speaks for a significant move by BitPay and London Lions towards integrating CBDCs into the sporting arena. This partnership will enhance the club and make it ready for the acceptance of cryptocurrencies for various operations and executions in merchandize. Not only Dogecoin and XRP, but other cryptocurrencies that do add to the list like Bitcoin (BTC), Ethereum (ETH), and Shiba Inu (SHIB), will also be accepted.
Recent Crypto-Sports Involvements of 2022
- UFC, Football, and Baseball, majorly use cryptocurrencies for building better fan relationships.
- Bybit is in 3 years sponsorship deal with Red Bull Racing with Tezos as its official blockchain partner.
- According to sports analytics firm Nielsen Sports, “The crypto deals with sports teams and leagues have grown over 100% in 2021 and are expected to hit $5 billion by 2026.”
- Manchester City (CITY) is about to launch the first Metaverse football stadium to enable football lovers to attend matches online worldwide. It is going to be the first football stadium in the Metaverse ever.
- Bitcoin, Shiba Inu, and Dogecoin’s growth is the contribution of the great efforts of companies working on the back foot.
- Manchester United F.C. in February announced a multi-year sponsorship deal with Tezos worth $27 Million per annum.
- The basketball deal is worth $700 million. It’s a deal where Los Angeles Lakers arena will be renamed Crypto.com.
- Crypto.com also signed a $175 million deal with UFC to sponsor its brand to appear on apparel worn by UFC athletes.
As per the data of a news media outlet, the popularity of “Paris Saint Germain (PSG) Fan Token” with a current price of $3.20 followed by “CITY Fan Token” with a current price of $3.16 and “FC Barcelona Fan Token (BAR)” with a current price of $ 2.30 rank on top in the list of tokens in sports.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.