English Premier League sees an increasing crypto presence. Partnerships between crypto companies and clubs in the English Premier League are on a steady rise. Consequently, the English Premier League authorities are set on probing this growing ties with crypto, said The Times.
Is the English Premier League against crypto adoption? Are the authorities ruling out crypto partnerships? Of course, the answer is NO. In fact, report tells us that the English Premier League is currently considering a crypto-related partnership.
This possible partnership will involve an NFT platform that offers digital sports memorabilia. Sports memorabilia are simply collectibles associated with sports. They could be physical or digital. More so, sports memorabilia cuts across trophies, autographs, photographs and the likes.
Now, before I tell you what the concern of the English Premier League is, I think you should first know about the partnerships.
Crypto Partnerships in the English Football
The Fan tokens company Socios ($CHZ), is the major crypto partner with clubs in the Premier League. So far, Socios have been successfully linked with about five Premier League clubs. These clubs include; Manchester City, Arsenal FC, Everton Football Club, Aston Villa, and Leeds United. As a result, these clubs now have their respective Fan Tokens.
According to Socios, Fan Tokens give fans the power to influence decisions of their favourite teams. In other words, it enables fans to have their say on club-related decisions through voting. Holding these tokens allows you to vote for a jersey-design, dressing-room artwork, match-day music and others.
Other crypto partnerships in the league involve Southampton and Watford Football Clubs. Southampton FC in late September secured a deal with a crypto education website Learncrypto. While Watford has Stake (a crypto betting firm) as its official shirt sponsor. More so, their shirts have the Dogecoin logo designed on it. Similarly, CoinJar happens to be one of Brentford’s sponsor.
You may be asking, what are the worries of the EPL authorities over crypto partnerships with its football clubs?
The Concern of the English Premier League over Crypto Partnerships
The lack of crypto regulation is the core worry for Premier League authorities. As you know, there is little or no guaranteed protection for crypto users. It is based on this premise that the league has pledged to scrutinize crypto-related partnerships.
Also, Fan Tokens involves trading. The Premier League is afraid that its supporters may incur losses in the process. Especially those who barely understand the crypto market.
On the whole, there is a huge possibility that crypto will greatly invade English football and the sports world at large. It is well-known that betting companies are the major sponsors in the Premier League. At the time of writing, there is an intending ban on betting companies sponsoring EPL clubs.
If the ban eventually happens, from which sector do you think new sponsorships and partnerships will emerge?