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With the Bitcoin prices hitting record highs at the end of 2017, the volatile cryptocurrency continues to make headlines as it piques the interest of new investors, who might not have otherwise considered using it.
In fact, the hype around Bitcoin (BTC), and cryptocurrencies in general, has resulted in a number of celebrity endorsements for Bitcoin sales. DJ Khaled, Paris Hilton, lingerie mogul Michelle Mone, artist Lincoln Townley and famous boxer Floyd Mayweather are among the celebrities who have promoted the digital currency.
Even professionals in the football industry are showing interest in the cryptocurrency trend, including big names like Lionel Messi and Harry Redknapp. With Messi and Redknapp endorsing digital coin, it makes one wonder if Bitcoin and other cryptocurrencies will have any significant impact on the football industry.
Here’s a look at how these currencies have influenced the industry so far and how this might continue in the future:
Lionel Messi becomes a blockchain celebrity endorser
Leo Messi has invested in Bitcoin, signing an endorsement deal back in December to represent SIRIN LABS. This is a company that creates Blockchain-based hardware for the crypto-community and has released an extremely secure mobile phone called the SOLARIN.
The company will also be launching the FINNEY, an all-in-one PC for Blockchain enthusiasts that will help make Blockchain integration a far more user-friendly process.
The pro footballer of FC Barcelona fame said in a promotional paid Facebook post:
“I am usually busy trying to decentralize defences and after digging deeper into Blockchain and decentralized systems, I’m excited to join SIRIN LABS as an ambassador to make Blockchain more friendly with their upcoming operating system for smartphones!”
Considered by many to be the best football player in the world, as SIRIN LABS brand ambassador, Messi is likely to introduce a much wider audience to Blockchain technology and generate interest among those who have and haven’t heard of it, alike.
Harry Redknapp jumps on board the digital coin bandwagon
Even football manager Harry Redknapp joined the craze for cryptocurrency and expressed his support for it on Twitter.
“Proper excited about Mobile Cryptocurrency! I'm in, get involved!” the former Birmingham City manager tweeted back in October.
Unlike Messi and the other celebrities mentioned earlier, however, Redknapp was specifically singing the praises of the digital coin Electroneum (ETN). While a digital currency like Bitcoin, where Electroneum differs is it’s a mobile-based cryptocurrency limited to a two decimal place system. It claims that this system makes it a simpler cryptocurrency.
Electroneum was thrilled to have the support of Redknapp, but unlike Messi with SIRIN LABS, Redknapp wasn’t paid to endorse ETN.
New rules make it easier for punters to bet on their favourite football teams using BTC
Beyond pro players and managers of football backing cryptocurrency, another area where Bitcoin is starting to make a much bigger mark is in the online gambling industry. This doesn’t just include online casinos but online sportsbooks as well.
Cryptocurrencies were recently regulated in Gibraltar. The British overseas territory (a top iGaming licensor and regulator) became the world’s first jurisdiction to establish a regulatory framework designed specifically for companies using Blockchain technology.
Why does this matter? The new Gibraltar laws that have been put into place further protect consumers by making it mandatory for blockchain businesses to ensure the protection of their client’s assets, including having a clear management disaster plan in place.
With this added protection, punters who want to bet on the favourite football teams with Bitcoin or another cryptocurrency will now have greater security at online bookmakers operating under Gibraltar law. In other words, more security means a greater likelihood of more football bitcoin bets.
Footballers could one day be paid in Bitcoin
Although it might seem unlikely that pro footballers would ever be paid in Bitcoin, this isn’t entirely unheard of in the sports industry. In fact, a Danish hockey team has offered to pay players in Bitcoin.
According to the Danish outlet Berlingske Business, where the news was first reported back in December, Rungsted Seier Capital – a hockey team in Denmark’s top league – announced a partnership with cryptocurrency financial services company Bitcoin Suisse.
As part of the sponsorship agreement, the hockey team has changed the name of its home area from Saxo Bank Arena to Bitcoin Arena. It has also offered its players the option to be paid in the digital currency, which is completely legal.
One of the players, Nikolaj Rosenthal, jumped at the opportunity and agreed to have his traditional salary payments in Danish Kroner to be switched to Bitcoin. It’s believed that this makes him the first professional athlete to ever be fully and exclusively paid in Bitcoin.
Some even think that Rosenthal’s choice could pave the way for teams and players in other professional sports to do the same.
Will digital currencies become more commonplace in football?
The truth is, only time will tell. That said, when you’ve got big name football celebrities endorsing digital coin, new regulations that may make it more appealing for football fans to bet on their teams using cryptocurrency, and professional sports players earning their salaries in Bitcoin, anything’s possible.
If cryptocurrencies continue to gather steam like they have been in recent months, they could very well become a common occurrence in not just football, but in life, in general.
