Popular meme cryptocurrency Dogecoin (DOGE) has made it to the English Premier League. Stake.com, a cryptocurrency sports betting platform, has reportedly sealed a sponsorship deal with Watford FC, which will see the club’s players wear a Dogecoin logo on their sleeves.
Watford FC to Play with Dogecoin
As The Athletic reported on August 14, the betting platform has signed a £700,000 (almost US$1 million) agreement with the football club. The sponsorship deal is expected to last throughout 2021-22, meaning Watford players will wear the Dogecoin logo for the rest of the EPL season, which kicked off last week.
In addition to the Dogecoin sponsorship, Stake.com will give away US$2 million worth of DOGE, as per the report. This is bullish for Doge fans, as it creates heightened awareness for the much-derided meme cryptocurrency.
Dogecoin saw an uptick in price amid the announcement, and is currently trading at US$0.3386 – a 38.5 percent increase over the past seven days.
The crypto and sports industries are increasingly getting along, thanks to the concept of non-fungible tokens (NFTs) and fan tokens, and sponsorship. This marks the second time Watford FC has secured a crypto-related sponsorship deal. Players wore a Bitcoin logo during the 2019-20 season under a sponsorship deal with Sportsbet.io.
In related news, earlier this month Aussie cryptocurrency exchange Coinjar became a “platinum partner“ of another EPL football club, Brentford FC. It already sponsors high-flying AFL team the Melbourne Demons.
Aston Villa to Launch $AVL Token
In a recent blog post, EPL club Aston Villa announced it would launch a fan token in partnership with Chiliz, a blockchain-based sports tokenisation platform. Among other benefits, holders of $AVL will get a chance to participate in the club’s votes every season.
Last season’s EPL champions Manchester City launched their own digital token “$CITY” in March.
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