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Cryptocurrency Trading Enters South American Soccer

CryptocurrencyNov 26, 2021 02:00AM ET
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Cryptocurrency Trading Enters South American Soccer

  • CONMEBOL announced an alliance with crypto exchange Crypto.com as the Official Sponsor of CONMEBOL Libertadores.
  • CONMEBOL and crypto.com are fully involved in the development of NFT’s associated with the Intellectual Property of the CONMEBOL Libertadores Competition.

The South American Football Confederation (CONMEBOL) and the cryptocurrency platform Crypto.com, agreed to a multi-year partnership through which the crypto exchange focused on the collection and exchange of NFT, will be the official sponsor of the CONMEBOL Libertadores Cup between 2023 and 2026.

The alliance establishes that Crypto.com will be one of the official license holders of CONMEBOL Libertadores NFT from next year. Likewise, the agreement includes the inclusion of the platform in the Virtual Assistant Referee (VAR) as an associated brand.

Likewise, both the brand and the digital assets may benefit from exposure in stadiums, events and broadcasts authorized by CONMEBOL Libertadores.

Thanks to this agreement, CONMEBOL and crypto.com will also begin to develop “NFTs associated with the Intellectual Property of the CONMEBOL Libertadores Competition on the crypto.com NFT platform,” according to the website of the sports organization.

"CONMEBOL always works to be a leading and avant-garde institution," said the Secretary General of CONMEBOL, José Astigarraga.

"We are sure that Crypto.com supports the same philosophy, taking into account its rapid expansion," he added.

Astigarraga complemented his comment by saying that he has “the conviction that this partnership will be for the benefit of South American soccer and also for this thriving company.”

Crypto.com co-founder and CEO Kris Marszalek said:

"We are very pleased to announce this partnership with CONMEBOL, which will help us connect with soccer fans throughout South America. CONMEBOL Libertadores is the high point of South American club soccer, this exciting and beautiful game of highs and lows that unites us like no other." And he added:

"Our research shows that Latin America is leading the way in cryptocurrency adoption, with 40% of Latin Americans saying they are interested in buying crypto in the near future."

On The Flipside

  • The rapid expansion and adoption of cryptocurrencies in Latin America is attracting the attention of various crypto exchanges to conquer this growing market.
  • Sports organizations, on the other hand, have seen an opportunity to market their respective competitions.

Why You Should Care?

  • CONMEBOL Libertadores is the most important sporting competition on the Continent created in 1916.
  • It is the oldest soccer confederation in the world and is made up of the soccer associations of Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Perú, Paraguay, Uruguay and Venezuela.
Kris Marszalek highlighted the brand’s interest in supporting this soccer competition, which is to add to “our portfolio of world-class sports sponsorships.”

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Cryptocurrency Trading Enters South American Soccer
 

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