Crypto company XBTO has completed its term as the main sponsor on the Lionel Messi jersey of the Inter Miami CF soccer team. This relationship ended after running for three years.
Royal Caribbean Replaces XBTO for 2024 Season
For the 2024 season, Royal Caribbean Cruises Ltd. will take over XBTO's role as the main sponsor on Messi's jersey at Inter Miami CF.
XBTO had previously tied a multi-year contract with the team in 2021, when Messi's arrival in Miami was still considered a fantasy.
Football Sponsorship: XBTO Strategy
Sponsorship in the world of football is nothing new for crypto companies.
Through placing logos on football jerseys, companies like XBTO get wide exposure as well as the opportunity to connect with potential audiences directly.
In XBTO's case, the presence of their logo on Messi's jersey when he plays highlights its significant crypto support.
A report from Bloomberg suggests that XBTO is looking to raise their profile in the market, and chose Miami, a city that supports crypto, as an ideal location.
A New Era of Crypto Sponsorship in Sports
Crypto support in the sports industry has grown rapidly. Most teams in the Premier League have crypto partners this season.
With the growth of crypto sponsorships in sports, it is hoped that larger audiences and closer relationships with fans will be created.
This trend does not only apply to football, but also to other sports such as American Football, NBA and Formula 1.
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DISCLAIMER : This article is informational in nature and is not advice, recommendation, offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time. Bittime is not responsible for changes in exchange rates or crypto asset prices.
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