Crypto firm XBTO will no longer be the main sponsor of Messi’s Inter Miami CF jerseys. The fallout of the partnership between the crypto company and the soccer giant comes after a 3 years run.

XBTO gets replaced as Messi’s Inter Miami CF jersey sponsor

Royal Caribbean Cruises Ltd. will take over as the primary sponsor of Messi’s Inter Miami CF jerseys from cryptocurrency investment firm XBTO beginning in the 2024 season. The fallout of the sponsorship comes have a 3-year run. XBTO had signed a multi-year contract with the team in 2021, long before Messi’s arrival to Miami was even a pipe fantasy.

XBTO’s road to fame via football

Football sponsorships are not new for crypto companies. But one might wonder, what exactly do firms get out of football jersey sponsorships?

Well, the idea is simple. Football is one of the most viewed sports in the world. Not only does it give reach and fame, it also provides a direct connection with an audience who can be potential future customers.

In case of XBTO, the moment Messi would have stepped on the ground, fans would have definitely noticed the logo on his chest showing a prominent cryptocurrency sponsorship. Previous Bloomberg reports suggest that XBTO wanted to become more well-known crypto firm because it has mostly operated under the radar. And where better than Miami, a city welcoming cryptocurrency.

Sports and cryptocurrency: a long road ahead

In the past, cryptocurrency has frequently gained widespread support in the sports industry. Eighteen of the twenty Premier League teams have an official cryptocurrency partner even this season.

Sports always has a deep impact on people. Rising crypto related sponsorships in the realm of sports in future will aim at creating a btter audience for the digital currency.  Fan relations will change significantly as more teams and players adopt this innovative alliance.

Football, which is referred to as soccer in many areas, is not the only sport following this trend; American Superball, the NBA, Formula 1, and many more follow suit.

The post Crypto Firm XBTO Replaced as Main Sponsor on Messi’s Inter Miami CF Jerseys appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am