Crypto.com strikes sponsorship deal with Paris Saint-Germain
Paris Saint-Germain is taking a move deeper into the cryptocurrency space with a new sponsorship deal with the digital asset exchange platform Crypto.com. The lucrative multiyear partnership will see Crypto.com become the French football club’s official cryptocurrency platform partner.
The specific financial terms behind the partnership have not been disclosed. But a notable milestone is that Crypto.com will pay a significant portion of the contractual fee using their cryptocurrency token CRO. The exchange said it plans to release unique collections of NFTs as a result of the new partnership.
The deal comes as Paris Saint-Germain is working hard to boost its merchandising revenues in order to better cope with UEFA’s Financial Fair Play Regulations.
From the locker room to the world-famous stadiums, Crypto.com will have meaningful visibility in front of Paris Saint-Germain’s global fan base and social media followers.
Crypto.com was founded in 2016 and its offering stands out as a one-stop shop for all crypto investors’ needs. It promises features such as deep liquidity and competitive trading fees, plus institution-grade security.
Most recently, the popular exchange has expanded the reach of its service that provides users with a way of automating their tax filing. Following the soft launch of its free tax calculator in Canada and America, it has rolled it out for Australia.
This partnership builds on Crypto.com’s sponsorship of Lega Serie A earlier this year, which became the first sports league in the world to sign a partnership with a crypto platform.
Marc Armstrong, Chief Partnerships Officer, Paris Saint-Germain, commented: “We are delighted to welcome Crypto.com to the Paris Saint-Germain partner family. We share the same passion for innovation and the same ambition to reach the very top. With this partnership Paris Saint-Germain demonstrates once more it’s vision and leadership as a pioneer in areas such as lifestyle, esports and digital. It is an exciting time for Cryptocurrency and we cannot wait to work with Crypto.com to bring new experiences to all of the club’s fans.”
“Our mission since day one has been to accelerate the world’s transition to cryptocurrency. We do so by finding the best partners in the world, and Paris Saint-Germain is second to none” said Crypto.com co-founder and CEO Kris Marszalek, “Between the brand visibility, stadium and team access, and collaborative development of NFTs, I have no doubt we’ll create new and exciting experiences for football fans around the world.”
Paris Saint-Germain have been making waves all summer. On the crypto front, it confirmed that the eagerly-anticipated contract with the world-renowned soccer player Lionel Messi included the so-called “$PSG Fan Tokens”.
As part of his wage package, Messi was handed an undisclosed amount of the club’s fan tokens that tie the Argentine legend with Paris St-Germain fans around the world.
Fan Tokens for Paris Saint-Germain ($PSG) are listed on the world’s leading exchanges, including Binance. At the time of writing, the 24 hour volume for $PSG stands at $357 million, while its market cap is around $125 million, according to market data aggregator Coinmarketcap.