In another sign of growing partnership between the cryptocurrency and sports worlds, Dutch-based crypto organization Libereum has announced the acquisition of Alicante-based Spanish Soccer Club, the Elche CF. The acquisition is hailed as a milestone in Crypto-sport connection that will stimulate the adoption of crypto across the sporting arena.
Details coming out of the deal reveal that Libereum has acquired the Elche CF Soccer Club in $4.9 million. The Libereum, which aims to make cryptocurrency accessible to the general public, hopes that this acquisition will help the P2P cash to become a mainstay of payment in the football stadiums, websites, club shops, etc. The acquisition also has a strategic aim to put the club back into the premium division of Spain’s Soccer Association in addition to making Libereum’s cryptocurrency “Liber” an integral component of club’s financial system.
Commenting on this acquisition, the founder of Libereum, Cem Kumlar said that they are excited to have a Soccer Club which shares their vision of having cryptocurrency future and is ready to communicate it with its fans and supporters. The Founder also thanked all the team members and professionals who were working very hard to make this acquisition possible.
Pushing the Liber
The primary aim of the Libereum is to generate the demand for its own cryptocurrency by investing in the soccer clubs. The company has set an ambitious target of overhauling the current processes and envisions a future where everything right from the selling of tickets, booking of the seats, sales of merchandise, and catering services will be done through cryptocurrency.
Soccer and Crypto Connection
It is not only Libereum which is investing in the football clubs to push for crypto adoption. In August earlier this year, Etoro – an investment platform – announced a partnership with seven soccer clubs of the English Premier League, for which it has made all the payments in Bitcoin (BTC). This makes the Etoro platform the first company which has paid even for the partnerships in cryptocurrency, Bitcoin. The company said that its objective is to have Sports fully adopting blockchain technology. The Managing Director of the company for US operations, Guy Hirsch revealed that the company is looking forward to integrating crypto into mainstream soccer games and events in the future. Hirsch is of the opinion that this will lead to wider adoption of the cryptocurrencies through enhanced public participation. Hence, educating the public on digital coins is important. More participation will improve the rate of adoption, and that will ultimately encourage the traders and merchants to accept digital coins as payment.
Widening ambit of Crypto-Sport Connection
In similar developments, Gibraltar United has decided to pay its players in cryptocurrency while Coin Deal – a cryptocurrency exchange – announced the sponsorship for English Premier League club, Wolverhampton Wanderers. It is an encouraging development for the crypto that world’s most popular soccer game is now being introduced to the world of cryptocurrencies. NBA basketball teams are also following the footsteps of soccer, and we think it is just a matter of time before other sports also come around and start their association with cryptocurrency.