This news comes as the relationship between cryptocurrencies and sports grows stronger.
This year, cryptocurrencies, especially Bitcoin, have received overwhelming support from legendary sportsmen and women from Tom Brady, Naomi Osaka, and now Aaron Rodgers, a renowned NFL star.
Recently, Rodgers tweeted a strong endorsement for the primary cryptocurrency.“I believe in Bitcoin the future is bright,”he stated.
Working with Jack Dorsey’s Square
Rodgers is a long-time Green Bay Packers quarterback. He is also a three-time MVP, making him one of the legendary sportsmen. He stated that he is working closely with Square’s Cash App to receive part of his salary in Bitcoin. This will be the first time that the player will be paid in the primary cryptocurrency.
“I’m teaming up with Cash App to take a portion of my salary in Bitcoin today. To make Bitcoin more accessible to my fans, I’m giving out a total of $1M in Bitcoin now, too,”
He stated that those who wanted to be part of the Bitcoin giveaway needed to complete certain tasks such as submitting their hashtags on Twitter and follow the Twitter page for Square’s Cash App.
He also attacked a video on his tweet where he stated that Bitcoin would go to the moon and that his fans should join him and be part of this price action.
Crypto Finds its Way into Sports
Rodgers will not be the first NFL player to state that he will start receiving part of his salary in Bitcoin. Mid this year, Saquon Barkley, another legendary NFL player, stated that he would start receiving his endorsement money in the form of Bitcoin. Other NFL players have also stated that they would receive their salaries in the form of cryptocurrency.
This summer, legendary soccer player, Lionel Messi, received part of his signing bonus in PSG in the form of fan tokens. Fan tokens have become a major concept in the sports sector because they allow clubs to have a new way of generating revenue. These tokens also build fan engagement because those who hold them get voting rights for minor decisions such as jersey choice.
Sports players and teams are not the only ones that are exploring crypto because of its growth. Cryptocurrency exchange platforms are also looking into the crypto space for a way that they can attract a new audience.
Recently, Coinbase, the largest cryptocurrency exchange in the US, announced that it had signed an exclusive agreement with the NBA to advertise during games. This deal was the first crypto agreement that the NBA had entered into.
FTX, yet another leading exchange in the US, announced that it had purchased advertising during the Super Bowl. The Super Bowl is one of the largest sporting seasons in the US, with an audience of over 90 million. This gives FTX broad coverage. FTX had previously purchased the naming rights to the California Memorial Stadium, which was renamed the FTX Arena.
Non-fungible tokens are also becoming highly popular in the sports sector. The boom of NFTs in sports started with the NBA Top Shot by Dapper Labs. This is an NBA dedicated NFT marketplace that allows fans to buy special basketball moments.
Recently, an NFT trading card for top Manchester United’s player Cristiano Ronaldo was put up for sale in an auction, and it is expected to sell for $1 million. Bidders for this auction are required to pay using digital currency.