In October 2021, shortly before the stock market crashes of tech companies began, shortly before news of layoffs and many cryptocurrencies skyrocketed, “Crypto fever is reaching football: that’s how ‘fan tokens’ work, and more clubs every day. does that.” Many clubs in Spain and abroad have begun to showcase or at least sponsor crypto companies on their chests, in some cases adopting the aforementioned. fan tokens.
Fire Even reached the RFEF The Royal Spanish Football Federation (Royal Spanish Football Federation), which made a sponsorship agreement with Bitçi, whose logo is on the backs of the players during training; and the main point of agreement, fan token Your choice.
Little is left of the link between Spanish football today and cryptocurrencies that emerged in 2021. Among the very few remaining are some agreements that are still in place and without incident, such as Barça’s agreements with WhiteBIT and Chiliz; or Socios.com’s multi-asset, plus those of WhaleFin and Atlético. In other clubs, only defaults and complaints continue. and an experience to be forgotten.
The logos on the kit…
The great hero of this story, though not the only one, weed, a Turkish company dedicated to cryptocurrencies that hold a big place in Spanish football. Besides the National Team, he sponsored Celta de Vigo, Cádiz, Espanyol, Alavés and Betis. Although the first batch of payments went smoothly, it didn’t take long for the non-payments to show up.
Some clubs began to look for alternatives early on, while others began to complain, choosing to wait until 30 June, the expiration date of some contracts.
Bitci excused himself by resorting to his non-payment capability in his country of origin’s legal situation, but continued without payment almost a year later. Celta de Vigo announced that it has taken legal action against the company after it announced that it had not received a single payment from Bitci.
Basin bulletin.@bitcicomtr @bitcifantokentr #Bitcoin@onureygun @onuraltantan pic.twitter.com/vmfNoqYI2Z
—RC Celta (@RCCelta) March 13, 2023
Espanyol announced two months ago that it broke off relations with Bitci for the same reason: defaults. He was one of the club’s biggest sponsors. parrot, behind only Riviera Maya in the hierarchy. The agreement was signed from the 2021-2022 season to the end of the 2023-2024 season, but it ended abruptly.
In the case of the Catalan team, He came to collect 250,000 euros, but about 750,000 euros remained on hold. corresponding to the variable amount fan tokens. The company made a single issuance where it released 40% of the initial intent. However, Espanyol later maintained its agreement with Crypto Snack to accept payments in cryptocurrencies in its online store and other payment points.
2 Playbook, The platform, which specializes in business for the sports industry, warned in June 2022 that this would come to an end as clubs were already preparing their legal assault to collect unpaid payments with the RFEF.
… and fan tokens
Like Iqoniq, who left a gap of nearly one million euros in the Royal Society’s accounts, Bitci not only offered sponsorship, but also fan tokenSomething left no money to anyone but the platform itself monitor the evolution of values token some clubs; they are also victims of the crypto crash of recent months.
Here are some examples from the time of its release to date:
RFEF celebrated the success of its launch in July 2021. fan token From Bitci’s hand. “tiki coins”.
The followers of the Spanish Football Team from all over the world have exhausted all the stocks of the national team’s digital currencies. The initiative launched by the Royal Spanish Football Federation (RFEF) through its sponsor Bitci.com on Friday, July 30th was a great success. […]
Thanks to sponsor Bitci.com, a technology company, RFEF has released these “tiki-tokens” for just 50 cents, and they offer many benefits and actions tied to the National Team. It is an enterprise linked to “blockchain”, a cryptographic technology that relies on a blockchain for the exchange of value between people over the Internet.
Chance of worth token has been similar.
From xataka Without a response at the time of this article’s publication, we consulted with the RFEF (whose logo no longer appears on the website or on National Team uniforms) about the current status of its relationship with Bitçi. In May 2022, we learned that RFEF plans to introduce Huobi, a Seychelles-based cryptocurrency platform, as its new sponsor. However, not obtaining permission from the CNMV for this company to operate in Spain changed plans.
Meanwhile, clubs have more or less reverted to their usual sponsors, Given that from 2021, bookies will no longer be able to show their sponsorship and in some cases similar conflicts. Some with companies affiliated with their land, such as Estrella Galicia or Abanca and Celta. Others, like Betis, have replaced the Bitci logo under their number with that of LegacyFX, a trading company. trade Based in Cyprus.
Valencia no longer wears its promotion fan token on the chest that now bears the Cazoo logo, which is also at war and no longer even exists in Spain. Cádiz switched from wearing the Bitci logo to the Khalifa Capital logo and now carries the Digi logo, which, together with Finetwork, has strengthened in Spanish football.
on Xataka | Osasuna fans enter the stadium with their faces like someone using Face ID. The company behind it is Spanish
Featured Image | Cadiz CF
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.