eToro, a cryptocurrency trading platform, is making a big splash not only in the world of digital assets, but also with the English Premier League (EPL). It seems as a strange partnership indeed, but one that will likely go a long way. Here are the details
eToro Kicks Off with Cryptocurrency Partnerships in the EPL
Enter eToro, a platform with a flair for business. The initiative has managed to sign up with seven EPL teams, paying for every partnership with cryptocurrency. It’s has been strange event and one that has left its mark on football. Teams have been expanding their operations beyond football – TV rights, electronic sports, and more. The entry into the level of cryptocurrency is new for the EPL. The Scottish Championship, though, have been a wee bit more accommodating towards cryptocurrency. And rather earlier adopters, too!
eToro has picked its partners well, too. As one of the most-watched football events on the planet, if not the most watched event indeed, the EPL piques the interest of reported 4.7 billion people who watch matches on their TVs across 643 million homes in 212 different regions of the world! The numbers are quite staggering and anyone who partners with the EPL can expect two things – great jump in brand awareness and rather costly terms of the deal.
The league’s revenue is also rather respectable, at $5.6 million per annum. It’s understandable how then eToro wanted to provide teams with an asset and an opportunity to explore new business opportunities whilst benefiting from the exposure it would get. As a result, Tottenham, Brighton, Southampton, Leicester, Newcastle, Cardiff, and Crystal Palace.
Paying the Players in Cryptocurrency?
Cryptocurrencies have long been struggling to make a splash in the true economic sense of the word. We don’t shop around in cryptocurrency yet and the chances of that happening are also a bit of a stretch. Still, the possibility remains that athletes could be potentially remunerated in digital gold, allowing them to explore new investment opportunities.
eToro will not be overly visible, but it will still show when the EPL is broadcasting interviews with managers and players. This is not the first partnership between football and the crypto world either.
Meanwhile, Union European Football Associations (UEFA) has said that it is pushing ahead with the rollout of a blockchain platform that will facilitate ticket purchases. It’s a great move which will potentially slash costs and streamline the process. It will facilitate customers, too.
As a rule of thumb, blockchain is usually better received than cryptocurrencies. Blockchain facilitates transactions and boosts businesses whereas cryptocurrencies always come with a certain air of uncertainty around them. However, football has come a long way.
Even winning matches is a matter of statistics, gleaning large quantities of data and crunching the numbers. Footballers’ performance is carefully calculated and strategies are planned based on how the athletes performed in previous matches. Whole teams of researchers are helping the coaches build the best and most statistically-efficient body of a team.
It’s not a surprise then that the beautiful game will also adopt new technologies as the opportunities present themselves.