Cryptocurrency News Market

English Football Giant Newcastle United Scores Crypto Trading Sponsor

Newcastle United  F.C. – one of the top-tier Premier League football teams in England – now has a new crypto trading sponsor.

Newcastle United Scores Crypto Partnership

According to a press release published today, StormGain becomes Newcastle United’s new Official Sleeve Partner, showing off the cryptocurrency trading platform’s brand name on the football team’s shirts in 2019/2020.

As part of the partnership’s announcement, Newcastle United fans can take part in the crypto trading platform’s promotions, including attending the Premier League team’s matches and trainings, as well as getting signed T-shirts and playing football with Newcastle players.

“We are always looking to support the club’s development by pursuing new commercial opportunities and this represents another important partnership for the club. StormGain will offer a range of incredible opportunities and money-can’t-buy experiences for fans, so we are really excited to be working together,” Newcastle United Head of Commercial Dale Aitchison stated.

Great surge in football crypto sponsorship

Cryptocurrency organizations are highly targeting football teams as sponsors and partners.

CCN reported in June that the Portuguese football team S.L. Benfica had started accepting bitcoin and ether payments for match tickets and club merchandise. Benfica’s goal was to get ahead of the increased crypto adoption among football clubs by taking digital currency payments via the payments processing firm UTRUST.

In May, the crypto price aggregator CoinMarketCap started sponsoring the Israel-based Beitar Jerusalem Football Club as an official partner. Yossi Benayoun – one of the most famous footballers in the country –, is a prominent bitcoin investor and a former Beitar player.

Creating a more transparent sports industry

One of the facilitators of the rising crypto football wave is Premium Division team Gibraltar United that launched cryptocurrency payments for its players in an attempt to provide more transparency and reduce the corruption in the sports industry.

According to Gibraltar United Co-owner Pablo Dana – in addition to cutting down the fees and taxes – embracing crypto as a football team helps foreign football players who often struggle to open bank accounts in Gibraltar.

It will be interesting to see whether football teams can spread the crypto adoption to other sports industries and how that will affect the digital currency space.

I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

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