Coinbase has expanded its influence within the sports industry by reaching a sponsorship deal with the German Bundesliga club Borussia Dortmund (BVB). This collaboration between the crypto exchange and Dortmund marks Coinbase’s first involvement in football.
Coinbase and Borussia Dortmund agreed to the sponsorship deal last year but officially announced it recently. As a new premium partner of the German club, Coinbase will facilitate the provision of crypto education sessions to BVB staff.
Also, at Dortmund’s Signal Iduna Park, Coinbase ads will appear on the video screens and sideboards. The crypto exchange’s EMEA Regional Managing Director, Daniel Seifert, informed local news outlet Handelsblatt that Coinbase is extending its partnership with the German club.
Coinbase advertisements have begun to run on video screens during a football games. Also, the cryptographic education class organized for Borussia Dortmund employees was on even before the extension popped up.
Now, the additional perks will include advertisements of the crypto exchange on the stadium and promotions on all other marketing mediums of the club—all of these will enjoy massive expansion.
The crypto exchange’s logo will appear on the fringes of the club’s home ground, Signal Iduna Park, which boasts an 81,365-seat capacity. Nonetheless, the partnership will officially begin in June 2023— when the present season concludes.
“The industry is highly exciting, but still new. We, there, want to keep the flexibility open,” said BVB’s Managing Director, Carsten Cramer.
Why Coinbase is partnering with Borussia Dortmund
From an onlooker’s point of view, much thought and interrogation will be given to why Coinbase selected Borussia Dortmund as the right partner, making a grand entrance into the football space.
Borussia Dortmund is one of the top football clubs in Germany, arguably second to Bayern Munich in recent years. In Europe, it has qualified for the Champions League consistently. Established in 1909, Dortmund has succeeded recently, having some of the most popular players and coaches and establishing an impressive fanbase.
Coinbase’s partnership deal with Borussia Dortmund is a strategic layout that assures the crypto exchange of bountiful rewards—increased popularity, improved interactions with the German audience, and additional users.
Coinbase is assured of a beneficial association because of the club’s palpable affluence within and outside Germany. For instance, the club boasts a massive social media presence. It has over 15 million likes on its Facebook page and a whopping 17.3 million followers on Instagram.
It implies that any single act of promotion made by the club about a brand will attract the attention of hundreds of millions of football fans because, beyond the substantial social media presence, the club revels in the publicity enjoyed via a consistent global telecast.
The sponsorship agreement followed when Coinbase increased its presence outside of the US, particularly in Europe. It got regulatory permission in Italy and the Netherlands last year, and the BaFin in Germany authorized it to provide cryptocurrency custody services in 2021.
However, the exchange is accustomed to sports deals despite this being the first foray in football. It completed a significant multi-year agreement last year, becoming the NBA’s sole bitcoin platform partner in the US.
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