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Highlights
• UK football giant Manchester United unveiled their £20 million per year training kit sponsorship with blockchain platform Tezos.
• Tezos previously had deals with Red Bull Racing Honda, other leading MLB teams as well.
• Tezos crypto in the past 24 hours has been trading at US$3.86 with a trading volume of US$288,979,872 as per CoinMarketCap.
Fan tokens now have become a common thing in the sports industry. Sports clubs are harnessing on blockchain-based tokens to promote their respective brands and also connect with fans in a more meaningful manner. Leading exchanges and blockchain companies are tying up either as shirt sponsors or releasing fan tokens.
Today, the fan token market alone stands at US$297,812,685 with a trading volume of US$48,474,375 according to CoinMarketCap. So, it was not a surprise to see another leading European club tying up with blockchain firm Tezos in a multi-year sponsorship deal.
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The deal
UK football giant Manchester United unveiled their £20-million training kit sponsorship with blockchain platform Tezos. The US-based firm replaces Aon as the kit sponsor.
Tezos has been pretty active in the sports industry with several high-profile deals with several sporting firms. In May 2021, it signed up with Red Bull Racing Honda, which saw it releasing its first NFT. It has also pocketed deals with leading MLB teams as well.
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Tezos as an open-source platform is backed by the Tezos Foundation. Founded by Arthur and Kathleen Breitman, Tezos’ blockchain network operates on the Binance Smart Chain network and works on the Proof-of-Stake consensus.
How is Tezos price faring?
Tezos is governed by its native token XTZ and has been red hot on the market. The bullish run saw XTZ register gains of 31.4% over the week. In the past 24 hours, Tezos crypto has been trading at US$3.86 with a trading volume of US$288,979,872. The 39th ranked crypto at the time of drafting was up by2.05% with a live market cap of US$3,380,641,245 with 876,705,612 XTZ coins in circulation.
Road ahead
The Manchester United and Tezos deal has raised hopes of the football club perhaps launching its fan token in the near future. Rival football club Manchester City already has a successful token in the form of Manchester City Fan Token, which has been launched on the Socios platform.
According to various news reports, the partnership could be a mutually beneficial deal as there are rumours that it may expand to areas of Web 3.0 and Metaverse to make the most of deal.
