The relationship between sports and cryptocurrencies has seen unforeseen levels of growth in 2020 and 2021. The initial reason behind this was solely about money. After the worldwide lockdowns and suspension of all live sporting events, many teams, organizations no longer had the money needed to continue paying their players and support staff. However, what they still had was a massive fanbase. NFTs, in particular, have been very effective in strengthening the relationship between fans and players. On the other hand, cryptocurrencies added a much-needed source of revenue for many of these teams.
Cryptocurrencies have cut across all sporting domains, be it soccer or football, or tennis.
Crypto.com is behind many of the major deals without sporting companies and crypto firms. In their latest move, Crypto.com has signed a $25 million partnership with the Australia Football League (AFL). The partnership is for the Australian Women’s Football League (AWFL) and the money will flow into the development of the women’s tournament. In the past, the Australian Women’s Football Tournament had partnered with Toyota and the deal was for $18.5 million. The new partnership with Crypto.com marks an increase of $6.5 million.
For Crypto.com, this is the first time they’ll be backing an Australian sports team. They have ample experience in the field in the United States, supporting some of the most popular tournaments like NBA and UFC. Kylie Rogers, Executive General Manager of the AFL, feels that it is a proud moment for the country’s sporting community. She also added that she is looking forward to the benefits of their partnership with Crypto.com.