cryptovibes.com
Crypto exchange OKX has announced the extension of its partnership with English Premier League football club Manchester City FC. The deal has made the firm the official training kit sponsor of the club for the 2022/2023 season.
OKX’s logo will be crested on the training kits of both the men’s and women’s kits. As part of the deal, players will also participate in OKX’s crypto education initiatives.
OKX Seeks More Crypto Adoption
Global Chief Marketing Officer of OKX, Haider Rafique, commented on the partnership. This is the way we want to nurture new users on our platform,” he said.
Rafique added that the exchange’s collaboration with Man City has provided the opportunity to expand the adoption of cryptocurrency among football fans. It will provide the opportunity to educate those that are eager to learn about cryptocurrency and provide more training to those already involved.
Although the financial terms of the deal were not revealed, Forbes stated that the crypto exchange could splash up to $20 million in the new Premier League season.
OKX started its partnership with Manchester City in March this year when it struck a multi-year deal. This made the crypto exchange the football club’s official cryptocurrency partner.
More Crypto Firms Extend Partnership Despite Market Deficit
Roel de Vries, Chief Operating Officer of City Football Group, stated that the club is excited about the partnership with OKX.
He stated that both parties have worked together to “supercharge the financial experience” by delivering several content activations during the high-profile pictures of the end of the 2021/2022 season. He added that the club looks forward to exciting opportunities over the coming year.
The deal is coming at a time the crypto market is experiencing a huge deficit. Bitcoin’s price has gone to $20,000 after reaching an all-time high of over $65,000 in November last year. But despite the market selloff, crypto exchanges with deep pockets have continued to promote their brands with different sports sponsorships. More crypto companies are now involved in the sponsorship of major European clubs as they try to increase crypto adoption.