From NBA to eSports, how will Crypto play a role in the sports industry in 2021?

In 2021, the impact of the Crypto space on the sports industry is huge. We have previously covered many sports industries related to the Crypto space. Therefore, when the Crypto field in the sports industry in 2022 enters a stage of full-speed development, we will review the impact of the Crypto field on the sports industry in 2021.

We’ll tease out what’s coming in 2021 through three sections: partnerships, brand engagement, and athlete endorsements and advocates.

Partnerships

One of the biggest Crypto deals in sports so far is the recent Coinbase and NBA partnership, another huge deal following the NBA’s partnership with Dapper Labs. The deal seems to inspire other major leagues to get involved in the Crypto space and send a message that real gains can be made in this space .

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Subsequently, the WNBA, NFL and La Liga joined in, all of which have partnered with Dapper Labs to serve their respective NFTs. The NFL is expected to roll out its beta in full in the coming weeks, and there are opportunities for team-specific deals.

NFTs have penetrated into virtually every aspect of the sports industry, and teams are no exception. 021 years, the Alliance of the team did a great on the NFT . The NBA team can be said to be the leader here, with the Hornets, Jazz, Warriors, Bucks, Cavaliers and many other teams joining it .

In the field of e-sports, the Crypto exchange FTX has provided huge sponsorships. In cooperation with the e-sports organization TSM, the organization will be renamed TSM.FTX. In 2021, it can be said that it will be the largest sponsorship for an e-sports organization. At the same time, Coinbase is also one of the major sponsors in the eSports space.

Crypto.com is more important in European football, with a league-wide contract in Serie A and a three-year, $42 million deal with AS Roma and Zytara Labs. Sorare, on the other hand, has dominated European football’s exploration of NFTs and has been largely untouched by NFT rival Dapper Labs .

At the same time, Socio and its sub-brand Chiliz occupy a place in the fan token track, penetrate the sports market throughout the Americas, and have reached cooperation with South American football clubs, UFC and NBA.

Brand engagement

Adidas and Nike acted as trailblazers in the Crypto space, with Adidas arguably the more aggressive of the two, joining forces with BAYC and The Sandbox to launch its own “Metaverse Wear” product . And Nike also jumped into the wearables space, acquiring OpenSea NFT’s star project RTFKT to make Nike’s wearables.

While traditional sports brands like Nike and Adidas are seizing the opportunity in 2021, not all brands and companies that seem “naturally fit” will find an easy path. Big players like Ubisoft, for example, have adopted a tepid response, while other market movers like EA Sports have chosen to remain more cautious.

At the same time, the “spinach” platform DraftKings has carried out a lot of activities related to the Crypto space, partnering with Tom Brady’s NFT platform AutoGraph.io, etc., and working with Polygon to solve scalability issues.

And sports merchandise company Fanatics CEO Michael Rubin teamed up with investors in the Crypto space to form Candy Digital, a sports-focused NFT marketplace.

Athlete Advocate & Advocate

Messi, one of the biggest stars in sports, made headlines in the Crypto space this year with his move from FC Barcelona to Paris Saint-Germain. Messi agreed to receive an undisclosed portion of his salary from PSG in the form of PSG Fan Tokens. And Messi issued his own NFT through Ethereum and named it “Messiverse” .

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A number of major league figures in American sports were also involved, including NFL quarterbacks Trevor Lawrence, Blockfolio, Odell Beckham Jr., Tom Brady, Shaquille O’Neal, Aaron Rodgers, and numerous sports stars.

And in the NBA, top draft star Cade Cunningham of the Detroit Pistons secured a deal with BlockFi. NBA veteran Steph Curry signed with FTX. Curry also bought the Boring Ape and showed great interest in the field .

However, we have to admit that TomBrady is an important person involved in the Crypto field. He cooperated with FTX to create AutoGraph.io, and invited athletes from various sports to join and publish their own NFTs.

Other growing Crypto exchanges are also looking for athletes as partners, such as Voyager Digital with Rob Gronkowski and Celsius with Spencer Dinwiddie.

other

From 2021, FTX has acquired the long-term naming rights to the former American Airlines Arena in Miami. And at the end of 2021 the era of Staples Center is over, and Crypto.Com’s Arena is officially here. The number of sports NFTs has grown significantly as global consulting firm McKinsey & Company partnered with Sportico .

Meanwhile, the emergence of U.S. state name, image, and likeness (NIL) rights opened the door for college athletes to monetize their names for the first time in history, and the Crypto space and blockchain applications made headlines. However, the lack of broader regulation means it is premature for college students to have access to opportunities in the crypto space.

And some interesting tokens have also had separate deals , with Tezos partnering with Red Bull’s Formula 1 team, and Algorand having a virtual Le Mans and driverless racing alliance.

While some of the bright spots tend to make the headlines in 2021, there are also difficulties as challenges, with European football clubs Barcelona and Manchester City both having to suspend their Crypto partner progress due to controversy.

In 2022, the Crypto field will surely bring more to the sports industry, and we look forward to witnessing everything with you.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/from-nba-to-esports-how-will-crypto-play-a-role-in-the-sports-industry-in-2021/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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