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Cryptocurrency Trading Enters South American Soccer

  • CONMEBOL announced an agreement with crypto exchange Crypto.com that will see them become the official sponsor of CONMEBOL Libertadores.
  • CONMEBOL and Crypto.com are fully involved in the development of NFTs associated with the intellectual property of the CONMEBOL Libertadores Competition.

The South American Football Confederation (CONMEBOL) and cryptocurrency platform Crypto.com have agreed on a multi-year partnership through which the crypto exchange, focused on the collection and exchange of NFTs, will become the official sponsor of the CONMEBOL Libertadores Cup from 2023 to 2026.

The agreement establishes that Crypto.com will be one of the official license holders of CONMEBOL Libertadores NFTs starting from next year. Likewise, the agreement involves the inclusion of the platform in the virtual assistant referee (VAR) as an associated brand.

Likewise, both the brand and the digital assets may benefit from the exposure offered by the stadiums, events and broadcasts authorized by CONMEBOL Libertadores.

Thanks to this agreement, CONMEBOL and crypto.com will also begin to develop “NFTs associated with the Intellectual Property of the CONMEBOL Libertadores Competition on the crypto.com NFT platform,” according to the website of the sports organization.

"CONMEBOL always works to be a leading and avant-garde institution,"

said the Secretary General of CONMEBOL, José Astigarraga.

"We are sure that Crypto.com supports the same philosophy, taking into account its rapid expansion,"

he added.

Astigarraga expanded on his comment by saying that he has “conviction that this partnership will be for the benefit of South American soccer and also for this thriving company.”

Crypto.com co-founder and CEO Kris Marszalek said:

"We are very pleased to announce this partnership with CONMEBOL, which will help us connect with soccer fans throughout South America. CONMEBOL Libertadores is the high point of South American club soccer, this exciting and beautiful game of highs and lows that unites us like no other."

he also stated that:

"Our research shows that Latin America is leading the way in cryptocurrency adoption, with 40% of Latin Americans saying they are interested in buying crypto in the near future."

On the Flipside

  • The rapid expansion and adoption of cryptocurrencies in Latin America is attracting the attention of various crypto exchanges looking to gain influence in, and conquer, the growing market.
  • Sports organizations, on the other hand, have recognized the opportunity to market their respective competitions.

Why You Should Care

  • CONMEBOL Libertadores is the most important sporting competition in South America, created in 1916.
  • It is the oldest soccer confederation in the world and is made up of the soccer associations of  Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Perú, Paraguay, Uruguay and Venezuela.

Kris Marszalek highlighted the brand’s interest in supporting the soccer competition, which is to add to “our portfolio of world-class sports sponsorships.”

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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