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Is there a way to succinctly describe the state of sports across cryptocurrencies over the past year? We’ve seen devastating new sponsorship deals that hit rock bottom in less than a year. There has been controversy over athlete endorsements of cryptocurrency products. The list goes on and on, but after a quick start to 2022, market conditions will have a major impact on the sport by the end of the year.
Dive into a year’s worth of learning from the 2022 sports and crypto crossover.
Learn more about our 2022 sports engagements
2022 has been a very different year than the 2021 sports roundup. Last year’s summary was dominated by a few companies other than FTX. There’s definitely a bad taste left this month about the idea that his Sam Bankman-Fried and his cronies at FTX were able to use customer funds to spend exorbitant sums on sponsorships. a variety of different sports.
Nonetheless, 2022 will finally bring a major ‘reset’ to sports sponsorship involvement, with executives in the field saying that, even at this level, it’s sometimes too good to be true. I came to realize that
As with last year, we’ll break this year’s roundup down into four main buckets: sports team and league activity, brand engagement, athlete endorsements and engagement, and everything else.
Sports team and league partnerships
The biggest stories in sports and crypto centered around team and league partnerships. It all started with Terra signing with the Washington Nationals MLB club earlier this year. In just a few weeks, Terra Luna even had the club’s branding and logo his mark right behind his plate at home of Nationals games.
But it was only a few months later that Terra’s implosion occurred. The Nationals deal was swiftly closed as Terra Luna virtually disappeared off the map completely as the “decentralized stablecoin” experiment in this case proved to be unsuccessful.
Of course, the other half of the sports sponsorship topic is none other than FTX. Miami Heat’s arena and MLB jersey His patch was largely his two biggest deals FTX made, along with many other FTX deals that rocked the world of sports sponsorship.
Nonetheless, one of the world’s biggest sporting events, the FIFA World Cup, went without much publicity for Crypto.com’s sponsorship efforts. previous three quarters.
In non-traditional sports, esports organization 100 Thieves has capitalized on the momentum of NFTs by releasing the first-of-its-kind free Polygon-based NFTs. With racing and his F1, Red Bull Racing has seen the quiet dismantling of the existing Tezos contract, but a new deal has been struck with replacement Bybit. Also in F1, Binance, which is often quiet (at least in the sports sponsorship space), signed a token deal with Alpine and fans for his token deal.
brand engagement
While there have been many brand deals that have materialized in 2022, few have had a significant impact on the sports business.
NFT was the centerpiece of brand engagement this year, with lukewarm entries from various sports-focused brands such as StockX, Adidas and Prada. However, the winner of sports-related brand deals within cryptocurrency is likely to be Nike, and Nike’s acquisition of his RFTKT has proven to be one of the longer-lived strategies in the space. increase.
Elsewhere in the NFT, Dapper Labs got off to a strong start to the year by launching its UFC NFT platform, UFC Strike. But Dapper Labs has lost out to fantasy-style competitor Sorare in recent months when looking at the broader NFT perspective in the sport.
athlete engagement
The beginning of 2022 kicked off with the support and partners of many athletes. But on the other side of the coin, throughout the year, we’ve consistently seen athletes from different sports listed in lawsuits promoting different protocols and platforms. In early 2022, former NBA forward Paul Pierce and boxing legend Floyd Mayweather Jr. were named in his infamous EthereumMax lawsuit.
In recent months, we’ve seen athletes co-signed for exchanges being named in newly formed lawsuits in the wake of FTX.
Aside from FTX, we also learned that Crypto.com dabbled in several athlete partnerships, signing LeBron James as an ambassador earlier this year. Also Jimmy Butler, Alex Rodriguez, Odell Beckham Jr.
Beyond the madness of lawsuits and fraud, 2022 has seen many highlights throughout the first year of Tom Brady’s NFT platform, Autograph.
Binance (BNB) has stayed relatively under-the-radar in the sports world, which has proved to be a resilient move in bear markets like those seen in 2022. | Source: BNB-USD on TradingView.com
all extras
Sporting goods continued to be an interesting topic, with a fair number of six-figure-plus figures (in fact, up to Nine digits) NFT Annual Sales of NFT Sports Cards.
In the totally “unexpected” bucket is the story behind WAGMI United, former English football club Crawley Town FC. The club brings a “cryptocurrency twist” and describes itself as “the internet team”.
It’s been quite the year for the sports-crypto crossover.
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