OKX has expanded its deal with Manchester City with a new three-year agreement that will make it the official partner of the famous English football club. The new deal is worth $70 million, the Seychelles-based cryptocurrency exchange reported CoinDesk Today is Friday).
OKX launched the first official global brand partnership with Man City in March 2022. Months later, it became the club’s official training kit partner for the 2022/23 season.
The new deal, unveiled on Friday at the Etihad Stadium in England, builds on these previous partnerships. The OKX agreement provides a greater opportunity for brand positioning.
“As part of the expanded deal, the OKX brand will appear on the left sleeve of both the men’s and women’s first team playing kits and will retain its position on the left sleeve of the first team’s training kits, as well as appearing across more digital and physical club assets,” OKX explained in a statement. statement.
Beyond Man City, OKX’s portfolio of brand partnerships includes the British motor racing team, McLaren Formula 1 and F1 driver Daniel Ricciardo, Olympian Scotty James and film promoter Tribeca Festival. However, OKX said CoinDesk He passed Man City’s “real test” ahead of the expansion of the new agreement.
A sports sponsorship nightmare in the crypto industry
In 2021, FTX and Crypto.com invested more than $1 billion in sports sponsorships, with the latter securing the right to sponsor the Ultimate Fighting Championship for 10 years through a $175 million deal. However, the collapse of FTX in November 2022 bankrupted many cryptocurrencies exchange
exchange
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, and in general, an exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, and in general, an exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
Read this termsports partners and celebrities competing with multiple lawsuits, finance poles mentioned.
In an interview with CoinDesk On Friday, OKX revealed that its esports partners had expressed concerns about its business in light of the situation at FTX. However, Haider Rafeeq, OKX’s chief marketing officer, said the exchange’s Proof of Reserves (PoR) convinced sports collaborators otherwise. He added that partners such as Man City and McLaren Formula 1 have reviewed their proof of ownership data.
PoR is an independent, third-party audit to ensure that a digital asset custodian is actually holding the assets it claims to have accumulated in its reserves to secure customer deposits.
OKX has expanded its deal with Manchester City with a new three-year agreement that will make it the official partner of the famous English football club. The new deal is worth $70 million, the Seychelles-based cryptocurrency exchange reported CoinDesk Today is Friday).
OKX launched the first official global brand partnership with Man City in March 2022. Months later, it became the club’s official training kit partner for the 2022/23 season.
The new deal, unveiled on Friday at the Etihad Stadium in England, builds on these previous partnerships. The OKX agreement provides a greater opportunity for brand positioning.
“As part of the expanded deal, the OKX brand will appear on the left sleeve of both the men’s and women’s first team playing kits and will retain its position on the left sleeve of the first team’s training kits, as well as appearing across more digital and physical club assets,” OKX explained in a statement. statement.
Beyond Man City, OKX’s portfolio of brand partnerships includes the British motor racing team, McLaren Formula 1 and F1 driver Daniel Ricciardo, Olympian Scotty James and film promoter Tribeca Festival. However, OKX said CoinDesk He passed Man City’s “real test” ahead of the expansion of the new agreement.
A sports sponsorship nightmare in the crypto industry
In 2021, FTX and Crypto.com invested more than $1 billion in sports sponsorships, with the latter securing the right to sponsor the Ultimate Fighting Championship for 10 years through a $175 million deal. However, the collapse of FTX in November 2022 bankrupted many cryptocurrencies exchange
exchange
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, the exchange can generally be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, and in general, an exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
Read this termsports partners and celebrities competing with multiple lawsuits, finance poles mentioned.
In an interview with CoinDesk On Friday, OKX revealed that its esports partners had expressed concerns about its business in light of the situation at FTX. However, Haider Rafeeq, OKX’s Chief Marketing Officer, said the exchange’s Proof of Reserves (PoR) convinced sports collaborators otherwise. He added that partners such as Man City and McLaren Formula 1 have reviewed their proof of ownership data.
PoR is an independent, third-party audit to ensure that a digital asset custodian is actually holding the assets it claims to have accumulated in its reserves to secure customer deposits.
