Crypto companies are still keen to tap sponsorship and partnerships with different industries, and among all, sports are the most popular ones. Recently, Bitget just announced its announcement with Leo Messi, the iconic Argentine footballer, which is another big move in its push for further global expansion.
Despite crypto winter, some exchanges like Bitget and Binance are still expanding and investing to boost brand awareness and crypto adoption beyond the crypto world. Binance announced a multi-year NFT partnership with Portuguese football star Cristiano Ronaldo. On the heel of that, Bitget also renewed its sponsorship with Juventus in August as well.
Bitget, the top five cryptocurrency exchange by derivative trading volume, has witnessed tremendous growth with the assistance of partnerships with creditable partners. Over the last year, it has partnered with teams and businesses in different industries, from Italy’s most established football club Juventus to esports titan Team Spirit and purveyors of premium international esports tournaments and events PGL.
The Luna crash caused panic and a downturn in the market, even worse, followed by the contagion of bankruptcy of some big crypto companies. While enduring the unfavorable market environment, the industry saw hiring freezes and job cuts across crypto firms due to tightening budgets. While on the other side, some exchanges like Bitget keep investing in partnerships and increasing their workforce.
According to a recent research report issued jointly by Bitget, Boston Consulting Group (BCG), and Foresight Ventures, Bitget’s derivatives trading volume exceeded that of FTX as of Q1 2022, ranking third globally. Moreover, as quoted in the report, since its global expansion in 2021, Bitget has grown rapidly and captured 10% of the total global derivatives volume, thanks to assistance from the key feature of social trading.
Bitget announced its workforce expansion plan to double headcounts from 500 to 1000 by the end of this year, to satisfy the demand of globalization and rapid expansion, up to date, it has 800 staff.
“Bitget has different initiatives to expand and enhance our presence in different markets. cooperation plans with famous and credible partners like Messi, which we believe will narrow the gap between the crypto world and other fields and boost the interest of potential investors. These efforts and investments would help us navigate through the crypto winter and lay solid ground for the next bull market. We would like to take the recent market turmoil as an opportunity to attract talents and shore up our reputation with innovative products, reliable services, and effective marketing strategies,” Gracy Chen, Managing Director of Bitget said.
She believes cooperation between crypto exchanges and sports is a win-win situation. The upside of bringing the two industries together is threefold.
“First, the crypto world has witnessed growing popularity and adoption among investors, but there are still a lot of doubts and FUD amongst the general public. To further boost adoption and develop a better public understanding of cryptocurrency, we are forming alliances with credible sport/e-sport teams or players in Bitget” she adds
Moreover, according to Gracy, the partnership with Messi, for instance, who is such a beloved player, will assist our plans of expansion in the globe and cater to the local audiences.
“Also, we can see, the Web3 trend has been extending to many different industries, we can see use cases of blockchain technology helps sports players to increase engagement with their community, such as NFTs, fan tokens, and metaverse events, ” commented Gracy.
Disclaimer: This is a paid post and should not be treated as news/advice.
