Lionel Messi, widely recognized as one of the world’s most exceptional living soccer players, has become a walking billboard for cryptofinance firm XBTO, highlighting the soaring relevance of crypto sports sponsorships.
Lionel Messi: Soccer Icon Turns Walking Billboard for Crypto Firm XBTO
As Messi continues to impress spectators with his goals for his new team, Major League Soccer’s Inter Miami, his jersey emblazoned with the XBTO logo has become a symbol of the vibrant crypto market. His Inter Miami flamingo-pink home jersey, with the XBTO logo prominently displayed, captures attention on the field, reminding viewers of the surge of digital asset booms and high-profile crypto sponsorships.
While Miami has previously seen FTX Arena’s high-profile crypto sponsorship, XBTO’s shirt-sponsorship takes the spotlight, marking a strategic move by the market-making and venture capital company to increase its brand visibility.
XBTO’s Shift in Strategy: From Behind-the-Scenes to Center Stage
XBTO, known for its low-profile operations in coding algorithms, improving liquidity on exchanges in various currencies, and investments, is making a shift in its strategy. Philippe Bekhazi, XBTO’s founder, spoke on a recent Bitcoin Magazine podcast about the company’s transition from a behind-the-scenes role to a more vocal and public presence.
“We need to be more vocal, we need to be out there, we need to show the world that we exist,” stated Bekhazi. Messi’s jerseys, featuring the XBTO logo more prominently than those of other sponsors, such as Apple TV, Adidas, the MLS, and the club itself, are reportedly sold out until the fall, reflecting the high demand and visibility garnered through this sponsorship.
The timing of XBTO’s multi-year partnership with the team was strategic. Signed in 2021, before Messi’s move to Miami was confirmed, the deal reportedly cost XBTO between $4 million and $5 million a year. Given the international fame Messi brings, this may have been a highly beneficial trade for Bekhazi and XBTO.
XBTO’s Exemption from U.S. Regulation
Despite its sponsorship of an American soccer team, XBTO maintains that it does not do business with U.S. investors, potentially exempting it from domestic regulatory scrutiny.
A New Era of Crypto Sports Sponsorship
Messi’s move to Inter Miami CF and the subsequent promotion of XBTO on his jersey mark a significant development in crypto sports sponsorships. This partnership reflects the potential for cryptocurrency companies to leverage sports platforms for visibility and for sports teams to explore unconventional sponsorship avenues.
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