Barcelona has been offered the sponsorship package by Polkadot and a slew of other sponsors eager to team with the club before their contracts with Rakuten and Beko expire in six months.
Despite the Nou Camp’s financial turmoil, the LaLiga side continues to draw considerable commercial interest, and a potentially lucrative bid could even be enough to greatly alleviate their off-field woes.
The total value of the sponsorships may exceed $90.1million, with Barcelona still looking for corporations to front their jerseys as well as have their insignia on their sleeves and training kit.
Polkadot In FC Barcelona Sponsorship Race
Polkadot, a blockchain network that was founded in 2016 but gained traction last year, is one of those in the sponsorship race. According to a recent release, FC Barcelona characterized the protocol as a platform that allows for a “high number of transactions per second,” namely 1,000 TPS. It is anticipated to reach 1,000,000 once it is fully operating.
Spotify, a digital music streaming service, is another likely partner for Barça. The Spanish squad announced that it will extensively study the choices before selecting a sponsor in accordance with its long-term strategy:
“The club has decided to take things with patience to analyze in-depth each proposal in procures to reach the most profitable agreement on a long-term basis.”
With Alves and Pedri at the club, some of the biggest stars in Spanish football might soon be advertising Polkadot at games all over the world.
FC Barcelona is not a newcomer to the digital asset market. The team inked a global collaboration with the NFT marketplace Ownix a few months ago to create a non-fungible collection for its supporters. Shortly after, however, the club withdrew the arrangement because Moshe Hogeg (a relative of Ownix) was arrested for a variety of offenses including fraud and sexual assault.
DOT/USD trades at $18. Source: TradingView
Binance had previously been mentioned as a potential FC Barcelona sponsor, but the crypto exchange was not mentioned in the official release. Only Polkadot made the cut.
Related article | Polkadot To Introduce $770 Million Fund As Parachain Auction Approaches
PolKadot Recent Moves
As costs rise, Polkadot’s bid can only be interpreted as a planned move – with the network hoping to attract new retail investors as DOT strives to reclaim its place among the top ten cryptocurrencies (by market cap).
However, it is also an attempt to mimic the prowess and success of large firms such as crypto.com, Binance, and FTX, who have dominated the industry’s sports sponsorship marketing.
The blockchain technology has gotten a lot of attention because of its novel parachain approach. Simply said, this capability allows multiple blockchains to communicate with one another. It also allows users to create a blockchain using their Substrate framework and connects Polkadot’s network to other projects like Ethereum and Bitcoin.
The protocol’s development team held its first Parachain slot Auction in November of last year.
Moonbeam, a smart contract platform, became the first fully operational parachain on Polkadot earlier this month. It intends to introduce a number of new integrations, activities, and users to strengthen the Polkadot ecosystem and contribute to the network’s growth.
Related article | Winning Parachains Begin Producing Blocks on Polkadot
Feature Image From Unsplash and Charts From TradingView.com