Crypto exchange CoinDeal has announced the renewal of its advertising agreement with the Wolverhampton Wanderers, a major English football team. The sponsorship means that CoinDeal will continue to sustain a brand presence within the mainstream sports world, a rarity for a bitcoin-focused company.
CoinDeal, which operates a cryptocurrency exchange that has so far catered to European traders and recently announced plans to expand into the United States, has been an official partner of the Wolverhampton Wanderers (known to many fans as, simply, the Wolves) since July 2018. Through the partnership agreement, CoinDeal's logo appears on the uniforms of the Wolves, one of England's Premier League teams.
This week, CoinDeal announced the renewal of its advertising sponsorship, saying that the deal will continue through the 2019–2020 football season.
In a statement, CoinDeal said that it decided to continue the sponsorship because it has "turned out to be a great success for CoinDeal" during its first year, with the company's logo being viewed at least 350 million times by television and online viewers of Wolves games.CoinDeal also released a video with details on the renewed Wolves partnership:
Bitcoin Advertising and the Mainstream Sports World
From the perspective of the cryptocurrency and bitcoin ecosystem as a whole, CoinDeal's decision to continue advertising with the Wolves is significant. Advertisements for bitcoin-related businesses are few and far between not just within the sports world, but within mainstream offline contexts in general. You may expect to find ads for bitcoin businesses on the web, but seeing the logo of a crypto exchange on the sleeves of a major European football team is more surprising, at least at present.
In this sense, CoinDeal is helping to close the gap between the bitcoin ecosystem and the world of mainstream media and advertising. For now, CoinDeal's reach in this regard may be limited primarily to English football fans, but that will perhaps change as CoinDeal continues to expand its operations beyond Britain and Europe.