Home Steelers 2022 Season Why Blockchain Sponsorship is great for NFL Teams

Why Blockchain Sponsorship is great for NFL Teams

by SCB 2019

Digital currencies have made financial impacts in recent years and woes and wows are a great
indication of growing interest. The decision by NFL teams to involve themselves in blockchain
sponsorship would be a move that sees an active engagement with digital currencies in the
In no way does this make it a move to invalidate current sponsorship deal exchanges. It means
the engagement would see the NFL move to solidify a platform that has been gaining more
traction, particularly in recent years.
Sponsorship of any form provides strong brand awareness, allowing both parties to solidify their
presence in broader markets. This symbiotic relationship can benefit participants of those
markets the association intends to engage.
Current regulations from the NFL that prohibit the promotion of cryptocurrencies may see
teams being creative as to the terms and conditions which would govern blockchain sponsorships.

This may lead to delays before teams, athletes and fans can become participants
in this shift and possibly gains to be earned.

Trends in digital currency sponsorships

The drive to seek and allow digital currency sponsorships has purely expanded the market. The
most active users of digital currency platforms are the Millenials and the Gen Z age
demographics. These are the fans that Steeler players entertain and reward for their loyalty. As
such sponsorships assist in making sports visible to this disinterested demographic and hope
to gain a fan base.
Sponsorship trends have seen cryptocurrency companies invest heavily in sporting activities
amounting to billions of dollars. Whether it has been through advertising spending, team and
events, embracing bitcoin popularity, and betting on American football as part of sporting
infrastructure investment, digital currencies are changing the landscape. They have enabled
teams, sponsorships, and associations to expand their brands in new and creative ways.

Active digital currency involvement

Blockchain technology is one of the most secure means by which to make transactions online.
Technology is the basic ingredient for digital currency transacting in that it provides a secure
ledger of all transactions that cannot be manipulated. Cryptocurrency provides various financial
definitions of transactions.
Regulations aside, digital currencies have been active in aspects of sporting for some time now.
Sports betting, along with sporting professionals, have made use of cryptocurrency in which
blockchain has provided a secure medium.

Volatile precautions

Understandably, the NFL association would be cautious in readily accepting cryptocurrency
promotions. The currency throughout the year has slumped in value with some platforms filing
Sports can generate massive revenues, the backbone of which is from sponsorships received
from companies. As the currency is not backed by any government or tangible commodity, its
popularity and value are based on the hype it’s able to generate. Though cryptocurrency investment has been fast and vast, many sports teams have seen their revenues suddenly withdrawn.

Blockchain creativity

Due to its basic technology, blockchain can provide a non-manipulatable ledge system,
optimizing peer-to-peer (P2P) transacting. The problems experienced on transaction fees, currency conversion volatilities, and sometimes inefficient transaction processes – blockchain
may provide just the solution.

Final thoughts

With a growing number of people choosing to perform their transactions online, no business
can survive unless it actively participates in online platforms. Blockchain accessibility and
secure platforms can provide anyone who interacts with the market with the transparency
essential for customer loyalty.
Sporting individuals have been able to benefit from the blockchain market, with great rewards.
With the NFL’s investment in Candy Digital, it is possible to now ensure revenue generation
streams that are not highly dependent on sponsorships alone.
Even though teams can receive advertising from NFT companies, without promoting
cryptocurrencies, earning streams for sporting is still potentially limitless.

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