Coinbase, a digital currency exchange with headquarters in San Francisco, California has extended its partnership deal with Borussia Dortmund (BVB), a professional football club based in Dortmund, Germany as its premium partner.
The partnership expansion is a follow-up of the existing relationship between both entities. Coinbase began its collaboration with Borussia Dortmund in July 2022 by running advertisements on video boards in the club’s stadium.
While the financial implications of the partnership were not made public, the renewed relationship will permit Coinbase to spread its reach globally by advertising on BVB’s social media and digital channels.
Furthermore, the logo of Coinbase will also be projected on cam carpets in BVB’s home ground, the signal Iduna Park stadium. Additionally, Coinbase’s team and customers will also get VIP tickets to BVB’s upcoming games. However, the collaboration will only last until June, which is the end of the ongoing season.
As part of the collaboration, Coinbase has earlier provided BVB’s employees with a training session on cryptocurrency, in which about 32 personnel from various departments were in attendance.
Blockchain’s Impact on Football
Crypto exchanges are increasingly working with the sports industry to create new ways for fans to interact with their favorite teams and athletes. These collaborations take many forms, such as using cryptocurrency to purchase tickets and merchandise, or creating fan tokens that can be used to vote on team decisions or earn rewards.
It is worth mentioning that this is not the first time Coinbase is participating in sports. For example, in 2019, the crypto trading platform sponsored the e-sports team FaZe Clan, and in 2020, the platform partnered with the NBA’s Dallas Mavericks to allow fans to purchase tickets and merchandise with cryptocurrency.
In December, Argentina Football Association (AFA) announced a new partnership with Upland, the world’s largest virtual property strategy gaming platform. The announcement was made shortly after Argentina’s victory at the 2022 FIFA World Cup held in Qatar.
Similarly, BC.GAME, a community-based crypto casino, announced that David Luiz, a Brazilian professional football player for the Flamengo team, has been named its official brand ambassador.
