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Beginning 21 September 2021, Bitget has been the official sponsor of the team that boasts the most championships in Italy, Juventus.
At an unhappy time for both the crypto world due to the bankruptcy of FTX and for Juventus at the center of an investigation that stemmed from some wiretaps and the resignation on the spot of the entire management, Bitget is still betting on the club of the double star.
The platform will bring luster to Juventus partly because of the efficiency that characterizes the exchange platform, although the real added value will come from its solidity.
The day before yesterday, Bitget launched its own “Proof of Reserves,” which is irrefutable proof that the exchange is backed by a 1:1 ratio of reserves.
The company has decided to focus heavily on transparency and protection of its investors, and based on the Merkle Tree crypto approach, it will provide periodic reporting on a monthly basis for some data and daily basis for others on the status of reserves of invested capital.
Bitget is coping with the industry’s declining reputation with the PoR (Proof of Reserve) move, which, to be fair, had already been devised before the Sam Bankman-Fried affair on 9 November.
“Today, we are proud to deliver on our promise. The release of Proof of Reserves and Merkle Tree data provides users with up-to-date and informative insights into Bitget’s financial status and greater control over their assets deposited on the platform, which echoes to our commitment to maximum transparency and protection policies of the highest level for users.”
Not only transparency and soundness, the cryptocurrency exchange is also betting big on marketing such as partnering with soccer phenom Lionel Messi with a campaign called “A Perfect 10.”
The sponsorship includes $20 million total disbursement divided into multiple advertising campaigns offering the possibility of a reward to users for anyone who will help improve the reputation of the crypto sector.
There is currently an additional marketing campaign airing in conjunction with the World Cup in Qatar called “Make it Count” which features a new video and new commercial campaigns.
CEO of Bitget Gracy Chen, enthusiastically commented:
“Bitget invests in the future of cryptocurrencies and Web3. The bear market does not discourage our goal of becoming a Top 3 cryptocurrency exchange within 3-5 years. Due to some collapses of some cryptocurrency giants this year, consumer confidence has fallen to a low point, and this is why we are increasing efforts on both product and marketing to demonstrate our dedication to building the better social trading experiences for our users. Partnering with the GOAT inspires us to strive for our best performance, and the World Cup period is the best time to remind ourselves of the importance of building and training for the moment to shine. We want to celebrate the footballing spirit in the cryptocurrency world and are ready to continue investing in the ecosystem even when times are tough.”
The collaboration between Bitget and Juventus
The terms of the agreement that sees Bitget sleeve sponsorship of Juventus include 5.5 million for the first season, 7 for the second, and an additional 0.75 million for each season if the UEFA Champions League cup is reached.
“It should be noted that, on 21 September 2021, the Issuer and Singapore Bitget PTE Ltd. (“Bitget”) signed a sponsorship agreement for the duration of 2 Sports Seasons (i.e. from the date of signing until 30 June 2023 ) concerning sponsorship rights exclusively aimed at branding activities, including the display of the Bitget logo on the First Team shirt”, it reads. This contract provides for a basic fee for each sports season (equal to Euro 5, 5 million for the period from the date of signing the contract to 30 June 2022 and Euro 7 million for the period from 1 July 2022 to 30 June 2023) and a variable component of a further Euro 0.75 million for each period in case of access to the UEFA Champions League final.”
This is what can be read in the official statement signed between the two companies.
Giorgio Ricci, Juventus’ Chief Revenue Officer was enthusiastic about the company’s journey so far with the exchange as a sleeve sponsor and when interviewed on the subject said the following:
“Our partnership with Bitget has undoubtedly been a success. Bitget confirms its commitment to be next to the team, right on the left sleeve, close to the hearts of the players and fans. We are excited for this collaboration to continue, together with a partner innovative, which will accompany us once again match after match.”