Crypto and Football Don’t Mix, and Now We Have Proof
UK football teams were happy to take crypto money, and crypto money was happy to invest in football. The results are in.
An image of the Crawley Town FC NFT.
Source: OpenSea
It was a mouthwatering match for sports enthusiasts and City of London traders alike: football and cryptocurrency, together at last! One was an all-consuming passion that only fans could understand, and the other was football.
With their huge overhead, including the wage bills of players, football clubs are always looking for new streams of revenue. Back in the heady days of early 2021, crypto in all its forms (sponsorships, NFTs) was an attractive new source of funds, especially as the pandemic threatened traditional sources of income. Newly rich crypto evangelists, for their part, seemed to relish the opportunity to raise their profile via sports with mass appeal.