In a highly anticipated UK football milestone, online investment platform eToro has become the first brand to pay for a Premier League partnership in Bitcoin.
The brand has signed an unprecedented agreement with seven Premier League clubs as part of a strategy planned and negotiated over six months by agency SportQuake.
The move will see eToro link up with Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City.
Under the deal, eToro will receive a full range of sponsorship assets from the clubs, including player access, digital rights, tickets, LED perimeter boards and interview backdrops to build a global campaign including TV, digital and social exposure.
Commenting on the landmark, Iqbal V. Gandham, UK managing director at eToro, said: “Today’s announcement is the first step on a long road to football fully embracing blockchain technology.
“The blockchain technology that underpins crypto currencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionise the world of football.
“In terms of our strategy, we wanted eToro to be seen as a Premier League player and not just working with a single club. SportQuake has been instrumental in helping us put together this high-density, multi-club, multi-platform marketing strategy"
Matt House, founder and CEO of SportQuake also commented: “With over 10m customers across 100 markets since 2006, eToro is building an important multi-market financial services business democratising trading in crypto currencies and established asset classes.
“Working closely with Iqbal and his team our research showed strong synergies between eToro and The Premier League and that through a properly planned and bought campaign, eToro could steal a march on their competitors and put eToro, Bitcoin and blockchain at the heart of The Premier League conversation worldwide."
Cryptocurrency and blockchain technology have dominated much of the recent football industry conversation, reaching a crescendo in the past two months.
The partnership was announced on the same day that UEFA revealed its first full deployment of a blockchain-based ticketing system for the UEFA Super Cup match.
Meanwhile a club in Gibraltar has become the first to pay its players using cryptocurrency.