What Binance, the new Lazio sponsor, is doing
The Lazio team signs a 30 million agreement with Binance, one of the largest cryptocurrency exchange platforms in the world, which becomes the main jersey sponsor. Facts, numbers and problems
Another Italian football club enters the cryptocurrency trading galaxy.
Today SS Lazio announced a partnership agreement with Binance, which becomes the new Main Jersey Sponsor of the Club.
Binance is a leading blockchain ecosystem and cryptocurrency infrastructure provider, with millions of users worldwide. "We are very satisfied with this new international collaboration" commented the president of Lazio, Claudio Lotito.
The biancoceleste club therefore follows the moves of the Italian clubs Rome, Inter and Milan by entering into agreements with companies active in the cryptocurrency sector .
Meanwhile, Binance is also introducing a token exchange platform linked to major football clubs, with Lazio as the launch partner.
The LAZIO token is now available on Binance Launchpad with 40 million on sale for a total of $ 4 million. Access will be available in due course via spot trading, credit card purchases and peer-to-peer trading, Coindesk explains. Fan Tokens aim to drive greater engagement between clubs and their supporters with the opportunity to access VIP experiences and other rewards.
However, the cryptocurrency exchange platform is facing increased pressure from regulators this summer .
All the details.
WHAT THE AGREEMENT PROVIDES FOR
The partnership between Binance and Lazio as Main Jersey Sponsor has a duration of two years with an option for a third year. The Binance brand will debut on the Lazio shirt and in all communication activities starting with the next home match between Lazio and Inter.
THE VALUE
The agreement has a total value in the three-year period, between fixed and variable, of over 30 million euros.
ROME WITH DIGITALBITS
Lazio's with Binance is just one of the latest agreements between football clubs and companies related to cryptocurrencies .
In July, the Giallorossi club owned by the American entrepreneur Dan Friedkin defined a commercial agreement for the sponsorship of jersey with Digitalbits, a Texan company active in the blockchain, the technology behind the development of cryptocurrencies.
Digitalbits has therefore taken the place of Qatar Airways as the main sponsor of Rome. The agreement is worth 36 million on a three-year basis. Founded in 2017, the company is active in the open source blockchain business which mainly deals with cryptocurrencies. Specifically, check the cryptocurrency named with the XDB code.
INTER WITH SOCIOS
Shortly after Roma, the Nerazzurri also focused on cryptocurrencies for the jerseys of the 2021/22 season.
On July 21, Inter announced the new Global Main Jersey Partner: it is Socios.com, owned by Chilliz, a fintech company, supplier of blockchain for the sports and entertainment industry.
Socios.com deals with relations between sports clubs and fans, proposing 'tokens' to fans to spend on the official apps of the clubs to purchase exclusive content.
Thus ends the Pirelli era, the Nerazzurri's main sponsor for 26 consecutive years. Socios.com has put on the plate 20 million euros per season for the Nerazzurri, "who will thus have the third agreement in order of value in Serie A" as had underlined Calcio & Finanza .
AND AC MILAN WITH BITMEX
Finally, in August Milan signed an agreement with BitMEX, the first sleeve sponsor of the Rossoneri club for an estimated value of 3-4 million per year (in addition to Emirates' 10).
Bitmex is one of the main cryptocurrency platforms in the world and joins an audience that sees Socios and DigitalBits as the new main jersey sponsors of Inter and Rome, for 20 and 12 million respectively.
A less important partnership than the one signed by the other two league colleagues, but which will still contribute to the visibility of cryptocurrencies in the world of football.
THE TROUBLES OF BINANCE
But let's go back to the agreement between Lazio and the cryptocurrency exchange platform. It is Binance's first foray into sports, an area considered very profitable for trading platforms.
"Sports enthusiasts can benefit from this revolutionary fan engagement and gamification solution in many exciting ways," said Binance founder and CEO Changpeng Zhao.
However, this summer the Binance platform came under attack from regulators and beyond.
Last July, a group of Italian and international investors took legal action against Binance, active in cryptocurrencies, to obtain a refund of the capital invested.
The lawsuit came a week after the UK's financial regulator (FCA) banned transactions on Binance. During the same period, Barclays blocked UK clients from sending funds to Binance.
In addition to the UK, the platform is also facing intense regulatory scrutiny in Canada, Thailand, the Cayman Islands, Japan and the United States.
Finally, Binance said yesterday that it will stop using the Chinese yuan on its peer-to-peer trading platform. The Binance origins lie precisely in China – Reuters remember – although in the statement on Wednesday, the company stressed that withdrew from mainland China in 2017, then a previous round of regulatory screw.
Yes, because last month, Chinese regulators stepped up a crackdown on cryptocurrencies with a blanket ban on all transactions and mining, forcing trading platforms and service providers to sever trade ties with mainland China customers.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/cosa-fa-binance-il-nuovo-sponsor-della-lazio/ on Wed, 13 Oct 2021 13:23:19 +0000.