It was recently announced that Bitnob had signed a multi-year sponsorship deal with the Nigeria Professional Football League, marking a groundbreaking move towards the mainstream adoption of cryptocurrency in the country. This puts Nigeria at the cutting edge when it comes to adopting cryptocurrencies in the sport, but it suggests that other countries and leagues will swiftly follow suit.
Bitcoin and other cryptocurrencies are getting harder to ignore, and they are pushing towards mass adoption thanks to the solutions they offer in the online world. This sponsorship deal will mean that more people than ever will discover crypto and realize the benefits it can bring to their businesses.
Football League Sponsored by Bitnob
Bitnob became the exclusive partner to the NPFL in May 2022, and the deal penned will see it as the name on the league for the next few years at least. The CEO of the company, Bernard Parah, said that the partnership was designed to showcase the possibilities of cryptocurrency and how it can be an advantage to businesses and individuals across the country.
The cryptocurrency company believes that this move to sponsor a football league puts it ahead of the game in the fintech industry, and that it has ventured into territory that nobody has explored before. It could certainly spark a wave of similar deals as other businesses in this subsector of the fintech industry seek to jump on this lucrative idea.
Cryptocurrencies Becoming Integrated in Gambling Sector
Cryptocurrencies may not have much representation yet as sponsors of football teams and leagues, but they are integrated within related industries around the sport already. Many of the world’s biggest betting brands now accept bitcoin and other tokens from people who want to stake on the games. This can often be an easier method for people staking in Nigeria and using international sportsbooks, as there’s no need to worry about fluctuating exchange rates.
It was the online casino sector that first introduced bitcoin to the gambling industry, and now the currency is hugely popular among players. It’s become so prevalent that new casinos are wise to offer it if they want to compete. That’s why white label bitcoin casino platforms are becoming so commonly used. These are cross-platform solutions that come with secure payment systems and a friendly user interface. By opting for them, new businesses can start accepting bitcoin payments within four weeks.
Where Else is Bitcoin Being Adopted in Football?
Bitcoin and other cryptocurrencies are gradually creeping into the world of football, with some footballers now beginning to take their wages in digital currencies. Inter Miami player, Kieran Gibbs, for example, gets paid half his salary in Bitcoin, which he then sends to a secure hardware wallet.
Elsewhere, Manchester City recently struck a deal with crypto exchange OKX, with the fintech company now adorning the Premier League champions’ training kits. It won’t be surprising to see more deals like this in the English top flight, with the Etihad Stadium-based team setting the tone for others to follow.
The introduction of cryptocurrency to Nigerian football can only be a good thing, as the technology is set for massive things in the future. The NPFL is ahead of the curve in the sport, with other leagues and teams now scrambling to get their own deals in place.