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BitPay, the bitcoin payment processing service that has been exploring new avenues for payment processing of cryptocurrencies, has just announced its latest sponsorship deal – college football. The highlight of the ESPN Event’s sponsorship is the bitcoin-paid sponsorship.
According to a news-byte by Tampa Bay Business Journal, the deal – Bitcoin St. Petersburg Bowl – amounts to $1.5 million over three years.
In a joint press conference BitPay’s executive chairman Tony Gallippi and the regional business community, St. Petersburg Chamber of Commerce, set-out to promote one of the first such popular events run by a bitcoin-related service provider.
BitPay has been pressing forward with parallel events and service upgrades to further promote the adoption of the decentralized currency. One of the methods adopted has been association with sporting events that have a widespread television coverage.
As the St. Petersburg Bowl has a faithful youth following and is widely viewed across the country, BitPay’s decision to sponsor the event is expected to garner rewards.
Interestingly, the press conference was held in St. Petersburg Museum, which has recently made headlines by accepting bitcoin donations. The museum chose to host the event in order to widen the scope of promotions for the event to be held on 26 December this year. Other merchant participants of the event have already begun preparations through promos. These include several food and hotel industry players such as, ‘erg’s Sports Bar and Grill, Green Bench Brewery Co and Hotel Zamora.’
BitPay has been on a long-term promotional plan of the event it is sponsoring, including the North American Bitcoin conference earlier in July this year.
Image courtesy of Gousfbulls.com