Spain’s top football league, La Liga, announced at its Token2049 event in Singapore that it has appointed cryptocurrency exchange Bitget as its official cryptocurrency partner in some regions.
Bitget COO Vugar Usi Zade told The Block that the partnership is worth “eight figures,” or more than $10 million, and will last for two to three years. Zade added that the exchange will continue to work to reach a wider audience, including through long-term partnerships.
According to a press release, Bitget is LaLiga’s crypto partner for East, Southeast Asia, and Latin America. The multi-million dollar partnership explores the intersection of crypto and sports, and aims to drive widespread adoption of Web3 technologies in emerging markets.
“Digitalisation and innovation have been priorities for LaLiga over the past decade. Last season, we made this a priority under the New Era umbrella, which focuses on technology. We want to be pioneers and we are committed to that,” said LaLiga president Javier Tebas.
The Spanish football league previously partnered with Dapper Labs to launch a series of digital collectible NFTs.
Bitget CEO Gracy Chen said the partnership extends beyond marketing and visibility and plans to include deeper collaboration, including additional investments in education. Many major cryptocurrency exchanges are partnering with sports leagues, a recent example being OKX. cavity With Formula 1 team McLaren and UEFA Champions League winners Manchester City.
Some of the world’s most famous football clubs, including Real Madrid CF and FC Barcelona, have signed up for La Liga’s 2024-25 season, with star players like Mbappé, Vinícius Jr. and Lewandowski on the pitch. The league has a global following of more than 220 million followers, according to the report.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.