Upbit, South Korea’s largest exchange by trade volume, has inked a partnership deal with S. S. C. Napoli to become the new back-of-shirt and crypto exchange partner for the leading Italian soccer club.
Upbit Partners with Napoli
On Monday, January 2nd, S. S. C. Napoli announced a partnership deal with Dunamu Inc., the South Korean fintech company and operator of one of the world’s largest cryptocurrency exchanges, Upbit.
As part of the partnership, the Upbit logo will appear on the back of Napoli’s jerseys worn in the Serie A, friendlies, and Coppa Italia competitions. The Napoli jerseys with the Upbit logo will be worn for the team’s next Serie A fixture on Wednesday against bitter rivals Inter Milan.
Upbit will also be Napoli’s official global crypto-exchange partner during the 2022/23 and 2023/24 soccer seasons. Napoli is the current Serie A leader, remaining undefeated at home throughout the 2022–23 season.
A Return for Crypto – Sports Partnerships?
The sponsorship comes as a shock, as most crypto providers have stopped sponsoring sports teams, including Tezos, which has recently halted its partnership with Red Bull Racing. Upbit declared that the two companies would collaborate more during the season, striking a hopeful note.
Such lucrative relationships have been affected by the crypto bear market and the recent collapse of FTX – a leader in crypto sports partnerships.
On the Flipside
- The deal could increase South Korea’s already growing support for Napoli, who signed their countryman Kim Min-Jae – who also won the Italian Serie A player for the month of September 2022.
Why You Should Care
Given Napoli’s good run of form, the partnership could help project Upbit, which aims to expand internationally and improve its global branding.
Read about the impact of the FTX collapse on sports partnerships below:
FTX Contagion In Sports: Teams And Athletes Rush To Terminate FTX Deals
Top Esports Organization TSM Suspends $210M Naming Rights Deal with FTX