On September 19, Bitget, a global cryptocurrency exchange, announced its latest partnership with La Liga, Spain’s top professional football league. The collaboration aims to increase cryptocurrency adoption in key regions such as Southeast Asia, Eastern Europe, and Latin America.
This partnership comes at a pivotal time for Bitget, as the exchange is currently celebrating its 6th anniversary and marking another milestone in its growth and global expansion.
From Messi to La Liga… Bitget Expands Globally Through Football
One of the key features of the partnership is the mutual focus on leveraging blockchain innovation. LaLiga’s exploration of technologies such as AI, virtual reality and the metaverse demonstrates their commitment to being at the forefront of digital transformation.
Bitget CEO Gracie Chen expressed her excitement about this partnership at the TOKEN2049 side event in Singapore. She highlighted Bitget’s commitment to innovation and how it aligns with LaLiga’s global reach and influence in sport.
“Our partnership with La Liga allows us to connect with millions of football fans in emerging markets, while also driving cryptocurrency adoption and making digital finance more accessible,” Chen said.
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This partnership is not Bitget’s first foray into the football sector. In 2022, the exchange partnered with Argentine football icon and multiple Ballon d’Or winner Lionel Messi.
This collaboration focused on educating users about digital assets. Together, they ensured that users had the tools to understand and engage with the technology safely and effectively.
The Bitget-LaLiga partnership also reflects the growing interest in the intersection between cryptocurrencies and sports . According to a report by Doors3, 75% of sports fans expressed a desire for more personalized and privileged experiences, which digital assets such as fan tokens and NFTs can provide. Additionally, 78% of fans are interested in more immersive experiences, such as virtual interactions with their clubs or exclusive digital content. These experiences can be made possible through blockchain technology.
In fact, the use of blockchain in sports offers new engagement opportunities . For example, fan tokens can help fans connect more with their favorite teams by giving them voting rights on minor club decisions or access to exclusive merchandise.
Meanwhile, NFTs can give fans ownership of unique digital assets related to their favorite players or teams . This digital innovation provides fans with a deeper sense of engagement and changes the way they interact with sports.
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The crypto-sports intersection holds promising potential, but also highlights some inherent risks . In October 2023, the UK House of Commons Culture, Media and Sport Committee released a report raising concerns about the volatility of crypto assets. The report also pointed to the potential for these assets to cause financial harm to sports fans.
As a result, the agency is loosening its regulations by recommending against the use of fan tokens as a means of fan engagement.
