Blockchain companies investing in sports sponsorship is projected to reach US$5 billion by 2026. Cryptocurrency, blockchain and NFT sports sponsorship investment is projected to increase by a massive 778 per cent compared to 2021. The next highest increase in sports sponsorship is 44 per cent for IT software and hardware. Retail, automotive, and energy sponsorship investment is expected to rise by seven per cent, five per cent, and four per cent, respectively.
Last year, the number of people in the world investing in crypto doubled to 100 million. Now, it’s estimated to be more than 220 million and many analysts expect that to double again next year.
It is an attractive space for rights holders as they look to shore up commercial programs to help recover from pandemic-driven losses in a category that barely existed a few years ago.
Of course, while awareness of blockchain companies is growing, sponsors are also focused on converting. That needs to be a key understanding for any rights holder looking to pitch a blockchain company.
However, while the space is overflowing with opportunity and possibility, rights holders do need to tread carefully. It is vitally important that they are not seduced and blinded by the money on offer at the expense of due diligence and properly vetting potential partners.
Eddie Fitzgibbon, Principal Consultant at Sports Rights Tech joins us to help understand and navigate the space. SRT is a specialist advisory business focusing on the intersection of technology, intellectual property and rights in sport and entertainment.
SRT have a unique understanding of the Web 3 and NFT space for sports and entertainment. Through their Web 3 and NFT Advisory Services, SRT are able to support rights holders and brands through a number of potential projects & use cases in this ever-evolving commercial opportunity.
You can connect with Eddie on LinkedIn and you can learn more about SRT at www.sportsrightstech.com
Enjoy.
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14 Hand Picked Pieces of Sponsorship Advice and Insights Re-run - Host's Choice- Ep 129
Inside Burger King's Sponsorship of Stevenage FC Re-run - Alex Tunbridge - Chief Executive of Stevenage FC - Ep 128
Inside Creativity in Sponsorship Re-run - Misha Sher - MediaCom - Ep 127
Inside Sponsorship at UFC – Nick Smith - Ep 126
Inside Sponsorship at UBS – Anneliese Mesilati - Ep 125
Inside Sponsorship at Shell V-Power Racing Team – Nigel Calder - Ep 124
Inside Sponsorship at Miami HEAT – Jessica Geymayr - Ep 123
Inside Sponsorship at Las Vegas Raiders – Howard Christian - Ep 122
Inside Sponsorship at San Francisco 49ers - Cameron O'Toole - Ep 121
Inside Sponsorship at New York Red Bulls - Jordan Iannuzzi - Ep 120
Inside Sponsorship at Toyota - Dedra DeLilli - Ep 119
Inside Sponsorship at Heineken - Thomas Mulders - Ep 118
Inside Sponsorship - Best Bits of 2022 - Ep 117
Inside the Sponsorship Employment Market - Jonathan Harris - SRI - Ep 116
How to be Innovative and Creative in Sponsorship - Adam Ferrier - Thinkerbell - Ep 115
How Brands Can Optimize Their Sponsorship Portfolio - Scott Tilton - KORE Software - Ep 114
2023 Planning Considerations - Dan Collier-Hill - MediaCom - Ep 113
Inside Disabled Athlete Sponsorship - Ryan Neiswender - Paralympian - Ep 112
Inside Rugby Australia - James Durbin - Chief Commercial Officer - Ep 111
14 Hand Picked Pieces of Sponsorship Advice and Insights - Host's Choice- Ep 110
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