Man City signs sponsorship deal with OKX despite market instability

By scanning the QR codes on street art that the cryptocurrency exchange has commissioned, Manchester City supporters will also have the opportunity to win season tickets in the OKX Hospitality Box.
Man City signs sponsorship deal with OKX despite market instability
Man City signs sponsorship deal with OKX despite market instability

The English Premier League (EPL) champions Manchester City have announced that cryptocurrency exchange OKX has agreed to sponsor the team’s practice uniform for the 2022–2023 season.

Despite the present down market, it seems that cryptocurrency and sports collaborations are still robust, as evidenced by the latest match kit sponsorship agreement between rival EPL team Everton and the cryptocurrency gaming company Stake. Preseason NFT tickets have also been made available by PSG simultaneously.

Given that Manchester City won the EPL last season and appears ready to challenge the league again this coming season after signing the Norwegian star striker Erling Haaland, the OKX contract will draw a considerable amount of attention to the company’s branding.

As part of the agreement, OKX’s emblem will be present on both the men’s and women’s training apparel until mid-2023. According to current previews, OKX’s name will be located on the lower breast of training shirts on the front.

In addition, OKX said that it had hired well-known street artist “Akse P19” and the Global Street Art Agency to produce four QR-coded works of art in Manchester. In the OKX Hospitality Box, fans can scan them for a chance to win season tickets. Players like Haaland, Jack Grealish, Joo Cancelo, and John Stones are depicted in the street art.

Since OKX agreed to become Manchester City’s official cryptocurrency exchange partner in March, the two have been working together. Additionally, they have stated that more Web3-focused fan engagement initiatives will be implemented.

With its headquarters in the Republic of Seychelles, OKX was established in 2017. The company asserts that it serves more than 20 million clients from about 180 different foreign marketplaces. It facilitates trading on popular assets including Cardano, Polkadot, Ether, and Bitcoin (BTC), among others (ADA).

Everton’s agreement with Stake, which was revealed on June 9, is the most recent cryptocurrency agreement that comes before Manchester City’s. According to a statement from Everton, the multi-year contract is the club’s “largest front-of-shirt deal in the club’s 144-year history” and is reportedly worth about $12 million per season. Last season, Stake also had a sponsorship agreement with Watford F.C., who will now compete in the second division of professional English football after being demoted.

PSG embraces NFTs

The French Ligue 1 winners Paris Saint-Germain F.C. (PSG) also made a crypto-related announcement this week, announcing the availability of NFT tickets for its upcoming preseason trip to Japan.

Three top NFT tickets are being made available by PSG to celebrate their first trip to Japan since 1995. These tickets grant buyers access to special parties, meet and greets with a select group of players, player autographs, and VIP admission to games.

The NFTs are available for purchase until Wednesday, but in order to receive all of those alleged perks, the purchaser must pay a whopping 180.36 ETH, or almost $207,000 at the time of writing.