Crypto.com, a crypto trading platform, announced that it would become the first innovation & technology partner of the Italian professional soccer league, known as Lega Serie A. During the multi-year partnership, Crypto.com will be featured in all match broadcasts and promises to release unique NFT collectibles.
The First Sports League to Go Crypto
Lega Serie A, is the top soccer league in Italy. Lega Serie A organizes “Serie A TIM,” the premier soccer league in Italy, The national cup: “Coppa Italia,” and the “Supercoppa Italiana.” Lega Serie A also runs important youth soccer competitions.
Crypto.com claims to be on a mission to accelerate the world’s transition to cryptocurrency. The company today serves over 10 million customers with the world’s fastest-growing crypto app, offering crypto trading, NFT services, and crypto cards available in more than 30 countries.
The current partnership between two organizations was built on Crypto.com’s sponsorship of Lega Serie A’s Coppa Italia in May. Lega Serie A became the first sports league to sign a partnership agreement with a cryptocurrency and NFT platform.
"We are very happy and honored by this important partnership with Crypto.com, a leading cryptocurrency company that has chosen Lega Serie A to develop increasingly engaging products for all the fans of Italian football,"
said Luigi De Siervo, CEO of Lega Serie A.
The two organizations will create new experiences for soccer fans in Italy and beyond, starting with unique NFT collectibles.
Following the success of this year’s Coppa Italia, and the NFT collection created especially for the occasion, the partners are planning to develop a new collection of NFTs dedicated to Serie A, Coppa Italia, and the Supercoppa Italiana.
"This multi-year agreement confirms the strength of our brand worldwide and the common values with Crypto.com, especially the desire to bring fans closer through technology and innovation. Over the next few months, we will be developing a number of commercial and marketing initiatives to expand our fan base and engage more and more fans,"
added De Siervo.
Innovation in Soccer
Innovation and technology have come to the soccer field. Lega Serie A was the first soccer league to introduce Video Assistant Referee (VAR) technology in 2017.
VAR is a match official in association soccer who reviews decisions made by the head referee by using video footage and a headset for communication. This was implemented to minimize the human error in decision making, which had had substantial influence on match results.
The 2020/2021 season alone saw a total of 2,372 incidents for which VAR technology was required. VAR interventions are included in Lega Serie A’s global broadcast which reaches more than 775 million TV households in more than 150 countries.
Another technology that gained the soccer community’s attention is Goal-Line Technology. It is an electronic aid that can determine if a goal was scored or not. The objective of the technology is not to replace the role of the officials, but rather to support them in their decision-making.
"We are extremely proud to deepen our partnership with Lega Serie A to enhance the fan experience with technology and innovation at the core. Since its introduction, VAR has brought greater transparency and reliability to football, features which we value deeply at Crypto.com,"
said Kris Marszalek, co-founder, and CEO at Crypto.com.
Crypto.com is going to be the presenting partner of VAR and Goal Line Technologies for Lega Serie A competitions going forward. Lega Serie A’s VAR Center in Lissone will also be co-branded as the Crypto.com VAR Center. In addition, Crypto.com will present the Lega Serie A “Goal of the Month.”
This partnership is not the only one the crypto go-getter has formed. Crypto.com has led the crypto industry in sports partnerships, having also recently announced global partnerships with the UFC and F1®.
Earlier this year, Crypto.com became the first crypto platform to partner with an F1 team (Aston Martin Cognizant Formula One), and the first to partner with an NHL team (this year’s Stanley Cup finalists, the Montreal Canadiens.)
These new collaborations will lead to new ways for sports and technology to interact and make innovations in the crypto and sports worlds.
On The Flipside
- Despite the explosion of interest in crypto in the sports industry, sporting clubs should remain conscious of this new technology’s risks and use it cautiously.
- Volatility and lack of stability in the crypto sphere will require sports clubs to make informed and risky decisions.
Why You Should Care?
- Cryptocurrencies and blockchain technologies can help to monetize fan engagement, attract sponsors and engage a global market in ways that were unimaginable decades ago.
- New collaborations between crypto companies and sports communities can lead to broader adoption of crypto technology and new innovative solutions.