PSV Eindhoven soccer club to accept new sponsorship deal in Bitcoin

The football ecosystem has stepped up its adoption game as more clubs continue to involve crypto in mainstream operations.

Netherland-based top tier football club PSV Eindhoven has partnered with a local crypto trading platform, Anycoin Direct, which will pay the club an undisclosed amount of Bitcoin (BTC) in a new sponsorship deal.

According to the official statement, Anycoin Direct will remain an official partner of PSV for the next two seasons, with the goal of growing awareness of crypto across Europe.

By using the crypto platform’s services, PSV will be able to receive the total sponsorship amount in Bitcoin, making it the first major football club in the EU to get paid sponsorship in cryptocurrency.

PSV Eindhoven commercial director Frans Janssen reportedly created the Bitcoin wallets for accepting the sponsorships after the deal was signed off. Supporting the move, he said, “As a club in the heart of the Brainport region, we are always innovating, cryptocurrency fits well into this picture.”

Earlier this year in April, PSV experimented with nonfungible tokens (NFT) by auctioning a digital version of 1988 European Cup 1, which it had won against Benfica in the finals. To signify the importance of the win for the club, the NFT token was also accompanied by an official certificate signed by Hans van Breukelen, the goalkeeper responsible for the European Cup 1 trophy.

Out of all the use cases that crypto offers, football clubs are placing bets on fan tokens. Some of the recent federations to take part in this experiment are Arsenal and Manchester City, both in partnership with a fan engagement platform Socios.

Arsenal’s intent behind launching the AFC fan token is to allow its global fanbase to participate in club decisions via online polls and improve fan engagement. Similarly, Manchester City’s CITY fan token will allow fans access to rewards, promotions and club decisions via polls. Both the fan tokens will be powered by Socios’ Chiliz blockchain and its in-house CHZ token.

This article was originally published by Cointelegraph.com. Read the original article here.