Italian Football Club AC Milan Expands Crypto Sponsorship With BitMEX

[ad_1]

Italian soccer club AC Milan has extended its partnership with BitMEX, a cryptocurrency exchange that has become the team’s first-ever shirt sleeve sponsor in 2021.

The extended deal now sees BitMEX named AC Milan’s premium partner, in addition to its official title of cryptocurrency trading partner held since 2021. The BitMEX logo appeared on the game day sleeves of the kits. AC Milan men’s and women’s team since that original deal was signed. .

AC Milan released their first NFT collection with BitMEX last year in collaboration with design studio Fansea. Fans could pay 45 (about $50) for the NFT, which featured a 3D image of Milan’s jersey. Sales of the NFT went to Fondazione Milan, the team’s charitable arm which supports causes such as the humanitarian crisis in Ukraine and UNICEF in South Sudan.

“We are happy to continue our journey alongside a partner such as BitMEX, with whom we intend to take further steps on the way to [digitization]innovation and growth of the club, but also to support the many charitable initiatives promoted by Fondazione Milan, AC Milan Chief Revenue Officer Casper Stylsvig said in a statement.

MilanNews previously reported that BitMEX is paying 5 million (about $5.6 million) a year to sponsor AC Milan, although the terms of the new deal were not disclosed. Cryptocurrency has been a popular sponsorship category for Italian football, with top Serie A club Juventus signing a deal with Bitget in 2021.

Some trades, however, collapsed amid the downturn in the crypto market. Italian clubs AS Roma and Inter Milan both had innings sponsorships with blockchain company DigitalBits, but their deals were terminated earlier this year after DigitalBits failed to make payments to the clubs.

Elsewhere in European football, cryptocurrency exchange OKX expanded its sponsorship last month with English club Manchester City. Spanish giant FC Barcelona recently launched a limited-edition NFT art auction in partnership with World of Women, while crypto fan token platform Socios has partnerships with English Premier League teams. , the Spanish La Liga and the Italian Serie A.

[ad_2]