Dogecoin (DOGE) will be the shirt sleeve sponsor of the English Premier League soccer team, Watford Football Club for the 2021/22 season.
Watford Agrees to Crypto Deal Worth £700k
Report shows that the value of this transaction is approximately £700,000. It is the result of a collaboration with Stake.com, Watford’s main kit sponsor.
DOGE has taken on the role that Bitcoin (BTC) previously held. As part of the sponsorship agreement between Watford Football Club and Sportsbet.io, players wore the BTC logo on their shirt sleeves during the 2019/20 Premier League season. The transaction was reportedly valued at £1 million. Watford was relegated that season but returned to the Premier League in 2021.
Football Partnering With Crypto
Like many other areas of entertainment, the sports world has made advances in cryptocurrency, and soccer is no exception. In 2021 alone, there are various clubs owning fan tokens, in-game legends that have released NFT collections, and even the use of cryptocurrency to buy players.
DOGE’s sponsorship of Watford is also not the first example of such a deal. Partnerships are not only anchored in individual clubs but the entire tournament. Back in May, Crypto.com announced that they had become an official Serie A sponsor. They initiated a partnership with the Italian Football League by sponsoring the Coppa Italia final between Atalanta and Juventus on May 19th. Since then, the platform has reached other sports deals in addition to soccer, including Formula 1 racing and the Ultimate Fighting Championship.
Doge’s 2021 Rise And Fall
Earlier this year, the meme-inspired altcoin DOGE showed strong growth. Growth hit a record high of $0.74 in May. The social media activities of prominent personalities such as Elon Musk and Mark Cuban contributed to this. After that ATH, the token fell somewhat out of favor, falling to $0.38 in a matter of days, and has not received similar support since.
Nonetheless, the analysis shows that DOGE has benefited from the most recent market conditions. At the time of writing, the value of DOGE is $0.30. In terms of market value, it is the seventh most valuable cryptocurrency.