eToro cements deal with Premier League soccer teams using bitcoin as payment
The investment firm expects blockchain technology can assist with ticketing issues, merchandising and more.
Global investment platform eToro has secured partnerships with seven different Premier League soccer clubs. These deals are especially unique because they were paid using the world's leading cryptocurrency, bitcoin.
As part of the agreement, eToro will collaborate with Britain's Brighton & Hove Albion F.C., Cardiff City F.C., Crystal Palace F.C., Leicester City F.C., Newcastle United F.C., Southampton F.C., and Tottenham Hotspur.
All of the deals were secured via bitcoin payments. eToro believes that cryptocurrency and the technology that supports it, blockchain, can improve the game of football and other sports by generating greater efficiencies and creating more productive business practices. The company suggests that, in the future, this could include addressing issues of ticket scalping, transparency of game information and guarantees of authenticity for merchandise.
eToro will also benefit from extensive global exposure via wide-ranging marketing opportunities, such as match day LED advertisement boards, privileged access to players, ticketing promotions and digital rights.
eToro has a global community of more than ten million registered users who keenly share investment strategies. Members hold commodities, stocks, exchange traded funds (ETFs), various cryptoassets and more in one portfolio.
This isn't the first time that blockchain technology has been utilized in relation to European football.
Earlier this month, the Union of European Football Associations (UEFA), the governing body for soccer in Europe, managed to efficiently and effectively implement a new blockchain-based mobile ticketing distribution platform.
At the 2018 UEFA Super Cup clash, played last week in Estonia, UEFA employed its blockchain-supported ticketing system to allow fans easy, accelerated access, while helping to prevent the replication of tickets.
Are you looking for tickets to an event? Discover some of the best websites to buy tickets online.
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