Bitget, a cryptocurrency exchange based in Seychelles, has partnered with LaLiga to further explore the synergy between Web3 and sports. The multimillion dollar deal will give the exchange access to LaLiga’s audience in East Asia, Southeast Asia, and LATAM, while giving the football league access to emerging technologies.
Bitget made the announcement at Token2049, a crypto conference taking place in Singapore. It comes as the exchange’s deal with Lionel Messi is coming to an end, presenting the exchange with another option for marketing. With the two-year deal, the exchange will become an official crypto sponsor of LaLiga and allow it to expand its audience into new markets.
The exchange’s press release noted that LaLiga, a Division 1 football league that counts Barcelona and Real Madrid among its teams, has been open to adopting new tech under its “New Era” movement. Some of the technology that LaLiga has integrated is virtual reality, artificial intelligence, Big Data, machine learning, and, to a lesser extent, NFTs.
One of the key appeals to a partnership with LaLiga is the league’s plethora of football superstars, including Mbappé, Vinicíus Jr., and Lewandoski. Gracy Chen, CEO of Bitget, said that crypto and the blockchain are integral to the world of sports’ recent transformation of embracing digital innovation. Partnering with LaLiga gives new opportunities for fans and athletes alike and can accelerate the growth of crypto in sports.
Javier Tebas, president of LaLiga, added that over the last decade, digitalization and innovation have been a priority for the league. “We want to be pioneers and we are committed to it.”
LaLiga Explores Crypto Through Partnerships
Sports and crypto may seem like an odd pairing, but the two industries have come together for numerous partnerships in the past few years. And it’s easy to see why: Crypto offers the sports industry a new way to approach fandom. Some of the innovations have been fan tokens and NFTs with IRL rewards.
LaLiga has tried its hand integrating Web3 tech as well. Here are two stories involving it and the next iteration of the internet.
First, in 2023, LaLiga North America signed a deal with GameOn to launch, operate, and monetize Web3 games. The games were said to be next-gen fantasy and based on IRL LaLiga matches and players. Fans would be immersed in a unique football experience, playing in various game modes and collecting playable avatars.
Next, two years ago, LaLiga partnered with StadioPlus and Vegas City Limited to enter the Decentraland metaverse. The goal was to attract a new generation of football fans through sports metaverse experiences. In this case, the experiences were to take place in the Vegas City part of Decentraland. The Head of Licensing and Franchising for LaLiga, said at the time that the deal was integral to the league continuing to innovate.
As these stories show, Web3 has many benefits for sports leagues like LaLiga that other marketing opportunities lack, including the ability to reach a new generation of fans through unconventional means. Time will tell if the Bitget partnership is successful, but it’s certainly a good sign for the space.
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