How Sports Partnership Contributes to the Growth and Attraction of Cryptocurrency Exchanges
Tags: sport, cryptocurrency, news
Published: 2024-02-26 09:03:59

The cryptocurrency industry has integrated into many areas of our lives: musicians, actors, and other influential people announce cooperation with cryptocurrency companies. As sports is one of the greatest hobbies of mankind, it is no exception.

Cryptocurrency companies choose ambassadors among the most famous athletes and offer innovative solutions that allow fans to feel part of their lives and support them directly.

That’s why I’ve put together a partnership between the sports and cryptocurrency industries that has happened recently.

**Chiliz Partnership with K-League**

Chiliz, a leading sports blockchain network, has [partnered](https://twitter.com/Chiliz/status/1759413452752265329) with the K-League, South Korea’s leading professional soccer league.

This partnership will see the integration of K-League Fantasy into the Chiliz platform and marks a significant expansion of digital engagement opportunities for football fans.

As part of this agreement, Chiliz will add the K-League Fantasy feature, which allows football fans to immerse themselves in an interactive and immersive fantasy football experience.

The integration aims to increase fan engagement and interaction in the Chiliz ecosystem and provide users with innovative ways to connect with their favorite teams and players. 

![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/efqzpa91ygyhv7qpgczk.jpg)
_Alexandre Dreyfus, Chiliz CEO, and Yeonsang Cho, General Secretary of K League_

Alexander Dreyfus, Founder, and CEO of Chiliz, [expressed](https://chiliz.medium.com/k-league-partners-with-web3-pioneer-chiliz-to-enhance-fan-engagement-and-power-global-expansion-ab1b9e558206) his excitement about the potential of collaboration to transform the fan experience in South Korean football. Dreyfus emphasized the importance of integrating innovative technologies such as blockchain to create engaging and rewarding experiences for sports fans around the world.

Yeonsang Cho, General Secretary of the K League, said: _“We are delighted to be partnering with the pioneers and leaders in this space, and look forward to working together to enhance the experience of our fans and grow our brand globally.”_

**Crypto.com Partnership with Formula 1**

South Florida Motorsports (SFM) has [announced](https://crypto.com/company-news/crypto-com-announced-as-official-title-partner-of-the-formula-1-crypto-com-miami-grand-prix) Crypto.com as an official partner of the Miami Grand Prix Formula 1.

This agreement will allow Crypto.com to become an integral part of the Formula 1 event, and the company’s brand will be included in the official name and logo of the event, as well as placed on the Miami International Circuit.

> “We are excited about our long-term title partnership with Crypto.com. We share their commitment to innovation and will apply those high standards to the fan experience at the Formula 1 Crypto.com Miami Grand Prix,” said Jeremy Walls, Senior Vice President of Hard Rock Stadium & Formula 1 Crypto.com Miami Grand Prix. “This will be an international event and we look forward to growing together on a worldwide scale.”

This is not the first time that Formula 1 fans will see the Crypto.com logo, as the cryptocurrency platform [sponsored](https://www.autohebdof1.com/news/f1/crypto-com-partner-of-sprint-races-in-f1-218619.html) a sprint race in 2021.

Ferrari, which has been participating in the competition for a long time, recently [announced](https://www.cryptotimes.io/2024/02/20/ferrari-adds-dogecoin-to-list-of-accepted-crypto-payments/) the acceptance of Dogecoin as a means of payment for the purchase of its cars in the United States. 

Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, stated that the move was prompted by an increase in customer demand, which indicates an increased interest in cryptocurrencies in the market. Ferrari’s decision to integrate Dogecoin along with Bitcoin, Ethereum, and USDC into its payment methods emphasizes the recognition of digital assets.

Galliera also assures that thanks to their partner Bitpay, a leading cryptocurrency payment provider, they can ensure a seamless transaction process for their customers who choose to pay with Dogecoin.

**WhiteBIT Participates In The Sports Tomorrow Congress**

Cryptocurrency exchange WhiteBIT, which has been an [official partner of FC Barcelona](https://36crypto.com/whitebit-and-visa-collaborate-to-facilitate-crypto-transactions-across-regions/) for a long time, will take part in an event organized by the Barcelona Innovation Hub called Sports Tomorrow Congress.

Sports Tomorrow Congress is a sports congress aimed at industry professionals seeking to develop their skills and knowledge, as well as those who want to connect and communicate with like-minded professionals. This year’s conference will take place on February 26 and 27.

WhiteBIT will be one of the conference’s keynote speakers and will present a speech titled _“Decoding the future of fan engagement with personalized digital products.”_

The company’s participation in the event emphasizes its commitment to integrating innovative technologies into the sports sector. WhiteBIT has repeatedly demonstrated its commitment to combining the worlds of football and cryptocurrencies: an official [partnership](https://blog.whitebit.com/en/whitebit-x-fc-barcelona/) with FC Barcelona, participation in sporting events, and regular ticketing promotions for football fans. Recently, they have again released an announcement of tickets for a football match in Wrocław on March 26, which will be possible to buy for cryptocurrency.

**OKX Deal With McLaren**

Cryptocurrency exchange OKX [has expanded](https://twitter.com/Haider/status/1747692465078100159?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1747692465078100159%7Ctwgr%5Ef398d8a539eb20357b4c44c7a0964957f10a497f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fokx-mclaren-f1-partnership-2024) its partnership with the Formula 1 team McLaren Racing by securing a place for its emblem on its sports cars in the 2024 Formula 1 season.

The OKX logo will be placed on the side racks of McLaren F1 cars for 20 of the 24 races of the upcoming season. The main symbolism of the 2024 car is inspired by the OKX-McLaren “Stealth Mode” design from the Singapore and Japanese Grand Prix in 2023.

Haider Rafique, OKX’s Chief Marketing Officer, has told [Cointelegraph](https://cointelegraph.com/news/okx-mclaren-f1-partnership-2024) that extending the sponsorship agreement with McLaren was a logical next step given the increased brand awareness it has gained through the partnership.

_“The results have been impressive. Our partnership with the McLaren F1 team has helped build OKX’s brand awareness and recognition through impressions (over three billion) via TV and online exposure, in addition to in-market exposure leveraging F1’s global footprint,”_ Rafique said.

The deal has also helped OKX tap into McLaren’s fan base through exclusive events featuring the Formula 1 team’s drivers. Rafiq said that one of these OKX [events](https://www.dehfi.com/articles/okx-switch-mclaren-mcl60-race-car-to-stealth-mode-for-the-singapore-grand-prix) at the Singapore Grand Prix in 2023, where driver Lando Norris met with fans, attracted more than 7,000 visitors.

To summarize, it is possible to say with certainty that cryptocurrencies have not only increased the engagement of sports fans, changing the way they communicate with their favorite teams and athletes but have also become an important part of the commercial component of the industry and sponsorship deals. Digital assets have made the world of sports more innovative and exciting.