It’s been an extended stretch with out a main expertise signing within the crypto sponsorship house. We’ve lastly seen some motion in that territory this previous week, whereas Crypto.com Arena in Los Angeles is slated for some renovations, and Australia is mulling over crypto betting laws.
We look to get your week began on an excellent foot – with our weekly evaluate, The Sports Slice.
The Sports Slice
Cowboys Quarterback Dak Prescott Signs Sports Sponsorship Deal With Blockchain.com
A market that was exhibiting immense warmth over the previous 12 months? Crypto offers with sports activities expertise. That has simmered to a sub-boil in latest months, as exorbitant spending sprees have cooled off within the latest market; that noticed a pleasant buck within the development just lately because the NFL’s Dallas Cowboys quarterback Dak Prescott signed on with Blockchain.com, in line with Bloomberg News. Prescott joins the likes of Tom Brady and Trevor Lawrence amongst NFL QBs with crypto offers in place. In April, Blockchain.com signed with a team deal with the Cowboys because the group’s “exclusive digital asset partner” – making this previous week’s transfer with Prescott a seeming match.
The NFL has proven a hotter reception to group offers this 12 months, whereas sustaining an open place on a league-wide crypto companion and interesting with NFTs by way of NFL All Day, the licensed NFT market for the league created by NFL companion Dapper Labs. League-wide offers have began to sprout up throughout just a few different U.S. sports activities leagues, together with Coinbase and the NBA in addition to FTX and the MLB, respectively. Other main exchanges similar to FTX and Binance have been lively too, each out and in of the U.S. market.
Australia Ponders Sports Betting Crypto Payments
A sports activities betting regulator in Australia, the Northern Territory Racing Commission, has opened the door to contemplating cryptocurrency funds, putting requests for public session on the matter. Our group at Bitcoinist published a recent article relating to the nation’s framework method in direction of crypto at giant. The fee will shut submissions in roughly one month, and expectations are excessive that the governing physique will set up not less than some form of framework round how crypto funds are allowed for use by bettors all through the nation.
New Crypto.com Arena Renovations
We’re approaching the one-year mark later this 12 months when Crypto.com signed on to take over the downtown Los Angeles enviornment previously generally known as Staples Center. As we method the ultimate quarter of 2022, the constructing that’s host to the NBA’s Clippers and Lakers, WNBA’s Sparks and NHL’s Kings, amongst in-and-out headlining expertise as nicely. Now there’s a brand new announcement of a nine-figure spend for enviornment enhancements, which can embody a large scope and a 3 12 months timeline.
Crypto.com has had comparatively low drama throughout the midst of market chaos, and whereas the sports activities sponsorship has cooled for the corporate, the world renovations may function an car for the crypto trade’s group to hone in on potential model engagement alternatives. The trade has quite a lot of sports activities companions, together with FIFA World Cup and the NBA’s Philadelphia 76ers.
Crypto.com (CRO) has been taking an aggressive stance round sports activities sponsorships lately, however 2022's timid market in latest months have led to much less sponsorship motion. Assuming short-term steadiness available in the market, Crypto.com may doubtless concentrate on enhancing and maximizing worth in present sponsorship offers, with renovations on the way in which to Los Angeles primarily based Crypto.com Arena. | Source: CRO-USD on TradingView.com
FTX Crypto Cup Comes To A Close
17-year-old chess phenom Rameshbabu Praggnanandhaa beat World Chess Champion Magnus Carlsen over the previous week on the newest FTX Crypto Cup, in a quick-moving format of chess that’s the ‘rapid chess’ or ‘fast chess’ format that brings 15-minute-per-game caps and 10-second per play caps. Carlsen is likely one of the most well-known names within the sport, claiming his titles as three-time World Rapid Chess Champion and five-time World Blitz Chess Champion. It’s Praggnanandhaa’s third victory over Carlsen prior to now six months, as the 2 have battled in latest Cup matches. Carlsen continues to be the dominant title, however Praggnanandhaa is displaying his means to be an actual risk for years to return.
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