Major English football club Manchester City have announced an initial partnership with crypto exchange OKX for men’s and women’s teams, as well as new club esports initiatives.
According to the club’s press release, the collaboration will focus on “an exclusive experience for OKX’s global customer base, as well as a presence at Etihad Stadium and Academy Stadium.”
OKX, rebranded earlier this year, is the industry’s second-largest marketplace, reportedly having over 20 million customers and generating over $4.3 billion in normal trading volume in the last 24 hours. This amount is well ahead of Coinbase, which is in third place with $3.3 billion, but leaves Binance dominance at the top of the table with over $16.2 billion.
Jay Howe, CEO of OKX, said: “Manchester City FC epitomizes the impact that football has to make to change people’s lives for the better, to unite people around a common love of a great game.”
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In the midst of an ongoing rivalry and fierce battle in Manchester, especially in light of Sunday’s upcoming derby, the commercial sides of the two clubs are making headway in the digital asset space, striking lucrative deals with the industry accordingly. Companies are looking to expand their influence on the Web3 site.
Manchester United got ahead of its peers by partnering with blockchain company Tezos in early February to become an official learning group and technology partner with plans to enter the space of the metaverse and non-fungible (NFT) collectible tokens.
In April 2021, Forbes published statistics that ranked the most expensive football clubs in the world. While Spanish giants Barcelona and Real Madrid came out on top, Manchester United came in fourth with $4.2 billion and 2020 revenue of $643 million. Meanwhile, Manchester City finished sixth with $4 billion and $609 million.
Likewise, fellow Premier League club Arsenal, based in north London, attempted to enter the fantoken market only to have their efforts halted by the Advertising Standards Authority for violating rules and, according to the regulator, were “irresponsibly serving consumers”. » out of inexperience. and failure to explain investment risk.”
