BtcTurk, one of the most popular cryptocurrency exchanges in Turkey, has signed a sponsorship deal with Yeni Malatyaspor, a football club competing in the country’s football league, the Süper Lig.
The news was first announced in a Medium blog post, where the exchange praised the deal as the first of its kind in the country. Under the terms, the club will compete under the name “BtcTurk Yeni Malatyaspor” for the 2019/2020 Super Lig season, and all players will wear kits branded with the BtcTurk logo as well.
BtcTurk added that the football club could also receive up to 7.5 million Turkish lira (about $1.30 million USD) in performance fees as well.
This deal is the latest partnership between a sports and a crypto firm. A few weeks ago, crypto startup Dapper Labs partnered with the National Basketball Association to launch NBA Top Shot, a digital platform for blockchain-based collectibles.
According to the companies, fans of the game will be able to buy, sell and trade in-season moves like the three-point shot or dunk. The collectibles will also be used for on-chain tournaments or games.
Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.