Crypto companies like Voyager are delving deeper into the world of professional sports. Some of them are now certain leagues’ biggest sponsors and advocates.
Voyager and Other Crypto Firms Are Doing Lots of Sports Business
Among the biggest deals to be made as of late include Crypto.com’s $700 million deal to secure the naming rights of the Los Angeles arena where the Lakers play all their home games. This arena is also home to teams like the Sparks and the Kings. Presently known as the Staples Center, it’s likely things will change now that the digital currency website is in control.
Voyager is another crypto company to come far in the sports world. Deals the team has managed to secure include those with the Dallas Mavericks – owned by Mark Cuban of “Shark Tank” fame – as well as those with Rob Gronkowski of the Tampa Bay Buccaneers and NASCAR driver Landon Cassill. The company’s CEO Steve Ehrlich says this is a big chance to not only push bitcoin and crypto further into mainstream territory, but also a great way for the firm to reach a new audience.
In an interview, he states:
We see this as an opportunity to really engage with the NWSL players, fans, and that community in a way that nobody has before. What’s really intriguing to me is engaging with women’s sports, and that’s a very important aspect for us because it’s a market that we believe is ripe for education and an opportunity to give these women a stronger foothold on their financial future through crypto.
One of the big investments that Voyager has made as of late is in the National Women’s Soccer League (NWSL). The investment will see a deal between both organizations that will allow each player in the League to garner their own crypto accounts through Voyager. Players will also receive crypto education from executives at the company.
Ehrlich commented:
Voyager’s investment in the league is especially innovative because we’ve collectively designed the partnership to include direct financial resources for every one of our players, as well as education on the revolutionary changes underway in digital assets… Our research shows that there is a lot of cross over between an interest in crypto and sports fans. I think that’s why more and more companies are jumping into this arena and doing some of these bigger deals.
Sports Don’t Think Too Much About the Risks
Kevin Kane – senior manager of client strategy at sports market research firm Navigate – explained that while risks exist for sports properties looking to sign deals with digital currency companies, crypto is growing so rapidly that he only expects things to get bigger from here. He stated:
You look at the number of people in the world investing in crypto. Last year it doubled to 100 million. Now, it’s estimated to be more than 220 million, and a lot of people expect it to double again next year.