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Sports Crypto Movement Continues As PSG Signs With Crypto.com

3 min read

Soccer giant Paris Saint-Germain (PSG) has announced a sponsorship deal with Crypto.com, as the sports cryptocurrency movement continues.

Crypto.com Becomes PSG’s Official Cryptocurrency Partner

Crypto platform crypto.com has announced a multi-year agreement with French powerhouse PSG, becoming the club’s official cryptocurrency partner. The partnership will also involve exclusive NFT releases on the firm’s official non-fungible token platform.

Due to the large scale of the deal, the platform has decided to pay a significant amount of the sponsorship fee using the cryptocurrency token CRO.

PSG is the most successful French club in the past decade, having won 7 out of the last 9 Ligue 1 titles. This season, the club has strengthened an already star studded side with the exceptional signings of Lionel Messi, Sergio Ramos, and more.

Crypto.com is one of the leading cryptocurrency platforms with over 10 million users. The company’s crypto card offering is one of the most popular in the world.

“We are delighted to welcome Crypto.com to the Paris Saint-Germain partner family. We share the same passion for innovation and the same ambition to reach the very top,” says Marc Armstrong, PSG’s Chief Partnerships Officer.

Related Reading | Major Reasons For Bitcoin And Ethereum’s Sudden Decline In Price

Armstrong further comments:

With this partnership Paris Saint-Germain demonstrates once more it’s vision and leadership as a pioneer in areas such as lifestyle, esports and digital. It is an exciting time for Cryptocurrency and we cannot wait to work with Crypto.com to bring new experiences to all of the club’s fans.

Sports And Cryptocurrency-Related Deals In Recent Times

In the past year, sports teams and leagues around the world have increasingly started to accept lucrative partnerships with crypto platforms.

Earlier in the year, Crypto.com signed deals with a variety of sports organizations including UFC, Formula 1, and Serie A.

The newly promoted English Premier League club Watford FC now wears Dogecoin on its sleeve in sponsorship with Stake.com.

Top Shot, the official NBA NFT fan store, also continues to move strong with recent addition of in-stadium digital collectibles.

Kris Marszalek, CEO and co-founder of Crypto.com, says:

Our mission since day one has been to accelerate the world’s transition to cryptocurrency. We do so by finding the best partners in the world, and Paris Saint-Germain is second to none.

Related Reading | Bitcoin Volatility Going Crazy Right After Hitting Shocking 2021 Lows

Sports-persons have also naturally showed more interest in crypto investments recently. Tennis star Naomi Osaka earlier revealed her interest in Dogecoin, while Lionel Messi received some of his PSG salary in the club’s token.

Another prominent example is NFL’s Russel Okung, who put half of his 13 million dollars salary in Bitcoin last year.

At the time of writing, BTC trades around $45.3k, down 10% in the last 7 days. The below chart shows the trends in the price of the crypto over the last three months.

Bitcoin Price Chart

BTC's price continues to fall downwards | Source: BTCUSD on TradingView Featured image from Crypto.com

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