As the Premier League 2022-2023 season starts, Chiliz News' latest report discusses the possibility of crypto sponsors replacing betting brands on team jerseys.
Frisco,United States - September 27, 2022 /PressCable/ —
Chiliz News has released a new report which discusses the possible crypto and NFT sponsors for the current Premier League season. Following the UK government’s review of the Gambling Act 2005, there was speculation about banning betting company logos on club jerseys.
More details can be found at https://chiliznews.com/premier-league-2022-2023-season-topics-when-will-an-official-nft-partner-be-announced-will-crypto-sponsors-replace-betting-brands
The new report by Chiliz News explains that teams like Crystal Palace have already signed deals with non-betting brands. The majority, however, did not find new sponsors, as the ban has yet to be implemented.
As discussed in the latest resource, one likely candidate to replace betting companies is crypto, as there has been ongoing adoption of crypto sponsorships across sports leagues. Many F1 teams have already signed with various crypto exchanges and blockchain technology companies, while Seria A and Bundesliga have both partnered with NFT projects.
Chiliz News reports that the Premier League aims to create a library of content similar to the NBA’s Top Shot platform, which provides NFT video collectibles of top moments.
As reported by Chiliz News, a deal with Dapper Labs, the company behind Top Shot, is being considered – and it would afford the blockchain company the video rights for the Premier League’s NFT content. ConsenSys, a blockchain software technology company, could be selected as the first official NFT partner with the rights to mint image NFTs.
“Those partnerships could be worth as much as UK£434 million (US$526.4 million) over four years, but there has yet to be official confirmation,” explains the author. “That could suggest that any potential products are still in the development phase, or that interest in the space has cooled on the back of mixed fan reaction to NFT initiatives launched by individual clubs.”
While there is speculation about the future of the Premier League’s NFT partnerships, Chiliz News reports that clubs are still looking for new outlets to distribute collectibles. Tottenham Hotspur already launched its SpursPlay subscription service, while Crystal Palace partnered with Socios to release fan tokens.
Chiliz News dives deeper into the complex relationship between the Premier League and the cryptocurrency industry, discussing the failed partnership between Manchester City and 3Key Technologies. The complete story can be found at https://chiliznews.com
Contact Info:
Name: Phil Eddleman
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Organization: Digital Shoutout, LLC DBA Chiliz News
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Website: https://chiliznews.com
Source: PressCable
Release ID: 89081240
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