Munich (dpa) – The sponsorship of crypto companies in the Bundesliga can become a problem for the credibility of professional clubs.
“The negative thing is that cryptocurrencies are still coming out of the shabby corner and are still relatively opaque. Of course, companies from the crypto industry try to set positive image signals for themselves and create an image transfer. Then there is the unsolved, negative side of blockchain : the energy consumption and thus the ecological footprint,” said Markus Kurscheidt, Chair of Sports Science II at the University of Bayreuth, the German Press Agency.
However, one positive side of crypto sponsorship is its innovative strength. “Professional clubs are connecting with digitalization through their partners and can serve as a testing ground for modern products. Blockchain encryption can be a very positive service for fans by gaining higher data sovereignty and reliable encryption technology for money.” , explained Kurscheidt, who researches, among other things, the socio-economics of sports policy and sports governance.
The crypto industry is increasingly pushing into professional sports. The Crypto.com trading platform, for example, is a sponsor of the 2022 World Cup in Qatar. Above all, the Bundesliga clubs are pushing the trade in digital trading cards. However, Hertha BSC is already working with the financial service provider Caizcoin, and the cryptocurrency Baby Doge is a partner of TSG 1899 Hoffenheim.