BINANCE BECOMES THE OFFICIAL SPONSOR, ISSUING FAN TOKENS FOR THE ARGENTINE FOOTBALL TEAM
The largest cryptocurrency exchange Binance will become the official sponsor of the Argentine football team.
According to an announcement posted on January 25, Binance and the Argentine Football Federation (AFA) have signed a cooperation contract with a period of up to 5 years, making the world's largest cryptocurrency exchange a sponsor. Official for the Argentina national team and the Argentine football championship.
Binance said it will also issue fan tokens for the Argentine football team and will launch in the near future.
This is the first time that Binance has partnered with a national football federation. Binance in turn sponsored jerseys and issued fan tokens for teams SS Lazio (Italy), FC Porto (Portugal) and Santos FC (Brazil). In January 2022, the exchange partnered with the Confederation of African Football to sponsor the Cup of Africa (CAN) 2021.
It can be seen that Binance's brand promotion strategy through sports activities is mainly targeting football, the "king" sport, in developing countries in Latin America and Africa.
It is worth noting that many other cryptocurrency exchanges and projects are also targeting the football sector in Argentina. In July 2021, the world's largest fan token issuer Socios/Chiliz said it would issue fan tokens for Argentina, and cooperate with AFA to rename the Argentine football championship "Torneo Socios. com" . In November, Bybit announced that it had become a global sponsor for the Argentine football team.
It is not clear whether the above funding agreements are in conflict with each other.
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