The crypto firm XBTO is no longer the main sponsor of Lionel Messi’s Inter Miami CF, ending a partnership that lasted about three years. This change reflects the evolving landscape of sponsorship deals within the sports and crypto industries.
Royal Caribbean Cruises Ltd. will take over as the main sponsor starting the 2024 season, indicating a strategic shift for the soccer team. XBTO had previously secured a multi-year contract with Inter Miami CF in 2021, well before Messi’s transfer to Miami.
Crypto sponsorships are not new to football; such deals have been a common practice, raising questions about their benefits to the companies involved. These sponsorships not only increase brand visibility but also have the potential to attract new customers and establish a direct connection with a large audience.
In the case of XBTO, having the logo prominently displayed on Messi’s jersey ensures visibility every time the football star is on the pitch, leveraging his fame for brand exposure.
Looking back, crypto sponsorships have been widespread in sports, with 18 out of 20 English Premier League teams having an official crypto partner this season. Such partnerships could lead to an increased audience reach for crypto firms in the future, as sports have a significant influence on people worldwide.
