Cryptocurrency firms have been investing in advertising and marketing with sponsorships of high social media influencers and sports activities groups. For instance, do you know that there was an NCAA Soccer sport known as the Bitcoin Bowl in 2014?
What Occurred: Bitpay sponsored the St. Petersburg Bowl that was performed on Dec. 26, 2014. With the sponsorship, the sport grew to become often known as the Bitcoin Bowl by many media shops, marking a giant second for Bitcoin (CRYPTO: BTC).
The sponsorship got here after Beef O’Brady’s ended a four-year run of naming rights for the sport performed in St. Petersburg, Florida at Tropicana Area.
North Carolina State defeated the College of Central Florida 34-27 within the sport, which aired on ESPN, a unit of Walt Disney Co (NYSE:DIS).
The Bitpay sponsorship lasted just one sport, regardless of signing for a number of years. The sport has since moved to Tampa Bay on the Raymond James Stadium and is now often known as the Gasparilla Bowl, in honor of a legendary pirate from the Tampa space.
Regardless of solely lasting one 12 months, the Bitcoin neighborhood rallied behind it and was proud to see a giant occasion embrace the identify.
Since then, stadiums have locked in naming rights offers with cryptocurrency companies and there have been particular cash because the sponsors of Nascar automobiles.
Accepting Bitcoin: Bitpay co-founder Tony Gallippi paid for the sponsorship of the sport with Bitcoin. The worth was undisclosed however studies say that Beef O’Brady’s was paying $350,000 a 12 months to ESPN, making the seemingly worth within the $350,000 to $500,000 vary.
As a part of the promotion, followers might additionally purchase their tickets and concessions utilizing Bitcoin as effectively.
Investing In Bitcoin: The Bitcoin Bowl introduced new eyeballs to the world of cryptocurrency and will have been a very good time to put money into Bitcoin.
A $1,000 funding on Dec. 26, 2014 might have purchased 3.0173 Bitcoin. That funding could be value $152,259.32 on the time of writing primarily based on Bitcoin buying and selling at $50,462.11.
A $40 ticket paid for with Bitcoin on the time could be the equal of $6,090.78 immediately primarily based on the present worth of Bitcoin.
Picture: Jurg Kradolfer/Dave Adamson, each by way of Unsplash