Cryptocurrency once again seems to be permeating several spheres. Football is the latest industry to see cryptocurrency introduced to it in some form with newly promoted team, Watford, set to wear popular coin Dogecoin’s logo on their sleeves this season. This new development arises as a result of a partnership between the Premier League side and their shirt sponsors Stake.com. The deal rumoured to be worth £700,000 comes off the back of a previous collaboration with Bitcoin worth £1,000,000 with reports stating that the Dogecoin deal could be worth even more in the future depending on brand exposure.
Sponsor Announces 10 Million DOGE Giveaway
Stake.com, the crypto betting sponsors behind the Shiba Inu logo on Watford’s shirt sleeves this year has announced that to commemorate Watford’s return to the highest tier of English football as well as the newly cemented partnership it has with, it will also be giving away a whopping 10 million DOGE tokens worth millions of dollars.
Dogecoin which started as a “meme coin” in 2013, in an effort to poke light fun at the constant fluctuations in the Bitcoin prices has over the past year grown to become a powerhouse in the cryptocurrency sphere due to attention from the tech-billionaire Elon Musk, Dallas Mavericks owner, Mark Cuban among others. It has seen a massive price increase following widespread attention, leading to it even breaking into the top five coins with an all-time high of $0.74, an 8000% increase, although it has dropped since to its current position at 7th place behind other altcoins; Ethereum, Cardano, Bitcoin and a few others. This deal will without a doubt further help to service it and push it further into the mainstream, introducing it to football lovers.
This is not the first time cryptocurrency will rear its head in the Premier League as previous Watford sponsors, Sportsbet.io had a deal with the English Club that saw the Bitcoin logo being placed on their shirts. Soccer superstar Lionel Messi is also included as his new deal with Ligue 1 giants Paris Saint-Germain reportedly includes some PSG fan tokens. Cryptocurrency-related sponsorship even stretches as far as racing with popular website Crypto.com being a sponsor for the Aston Martin Formula 1 team.
News like this is always a positive indicator for the general cryptocurrency market as it continues its ongoing struggle for validation and adoption into traditional financial markets. The market has been green the past few weeks with the market cap once again clearing $2 trillion amidst an ongoing rally.
