The current holders of the Serie A, Inter Milan have announced a multi-year deal with blockchain company, Zytara Labs. Their plan is to allow Inter Milan app to access crypto products; unlocking the potential for the team to create football NFT collectibles for top fans.
The Inter Milan Crypto Deal Explained
The deal is worth €85 million (roughly $100 million) and will last several years, which is common for European football partnerships and sponsorships. The partnerships began with support from the Digitalbits Foundation, a non-profit organization and leading contributor to the DigitalBits project. This foundation’s focus is on supporting the DigitalBits ecosystem and related technologies.’
The Inter Milan football team hope this crypto deal signifies a move to a more digital, global and diverse audience. Their move into crypto is an attempt in branching out to a brand new industry: An industry that is already besotted with football.
Zytara will become the ‘official global digital banking partner” and DigitalBits (XDB) will be the club’s “official global cryptocurrency”. Zytara will work with the Inter Milan football club on their mobile app. Plus, they will handle the club’s digital banking services. Basically, this will allow the Inter Milan app users to access crypto-based products, such as football NFT collectibles and their native token. The club are set to introduce XDB payments both in the stadium and online.
The Inter Milan and Zytara Partnership Doesn’t Stop There
The crypto deal between Inter Milan and Zytara will begin with limited edition Nerazzurri merchandise which will be available to purchase by the end of this month. The sale will give Inter fans an opportunity to make a purchase using the XDB token. Inter Milan’s crypto deal isn’t the first time we’ve seen something similar to this. Recently we saw their rival, AC Milan, enter into a long term partnership with Bitmex. Also sporting the brand on their shirts, Bitmex became their official sleeve and crypto trading partner.
The Future of Sports: Football NFT Collections
Crypto and sports seems to mix well. Many clubs have crypto tokens and some have also created NFTs. In fact some sportsmen have introduced their own NFT Collections. Obviously, we have seen the success of platforms like NBA Topshot, Draftkings and SoRare. Thus, the idea of NFT tickets make sense. It allows improved methods of seat allocation and safer secondary market transfers – as with wallet identification, fakes are easily identified. Finally, it introduces another method of income for sports teams, as they earn a percentage of secondary market sales.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
