The meme coin Floki has announced that its FLOKI FLOKI/USD token and Valhalla game will be prominently featured across various English Premier League platforms as part of a strategic one-year partnership.
What Happened: The English Premier League, the highest English soccer league, comprises 20 top-tier teams and is recognized as the world’s most valuable soccer league, according to sports data site Transfermarkt, Coindesk reported.
Floki has been gradually transitioning from its initial meme coin status by expanding its ecosystem.
This includes developing the metaverse game Valhalla, launching a real-world asset tokenization platform called TokenFi, and introducing staking and banking features to enhance the appeal and utility of the FLOKI token.
Under this new agreement, FLOKI tokens will become the official cryptocurrency partner of Nottingham Forest, while the upcoming Valhalla game will be prominently featured on the back of Sunderland AFC’s jerseys.
Additionally, Valhalla will be displayed through on-screen ads during all Premier League matches, significantly increasing the token’s exposure.
“It is a potential multi-year agreement and a minimum one-year/season deal,” a Floki team member said.
They emphasized the benefits to FLOKI holders, including increased brand awareness, recognition, and greater exposure to the Floki ecosystem and its community.
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The financial details of these sponsorships remain confidential, but Floki’s head of marketing, Sabre, revealed that the deals were secured without a bidding process, thanks to “direct contacts” within the league, bypassing a typical hurdle in such agreements.
Why It Matters: Sponsorships of sporting events and venues have become a common strategy for crypto companies looking to increase the visibility of their projects.
In 2021, Crypto.com spent $700 million to acquire the naming rights for the Staples Center in Los Angeles.
Similarly, the now-defunct FTX signed multiple hundred-million-dollar deals to promote its brand across various sports venues globally, and the Terra project entered a five-year, $40 million partnership with the Washington Nationals in 2022.
However, the long-term impact of these partnerships on brand recognition and token prices remains uncertain. Despite this, Floki’s Sabre remains optimistic.
“Unlike many exchanges and large projects that invest heavily in securing partnerships, we achieve exceptional value by spending a fraction of the cost. Our direct relationships with well-established and highly respected organizations enable us to maximize our impact in the blockchain space,” they said.
They added, “As we’ve seen with similar timing and partnerships from top exchanges, we expect this exposure to capture retail interest as we approach and enter 2025.”
What’s Next: As the cryptocurrency market continues to evolve, the upcoming Benzinga Future of Digital Assets event on Nov. 19 will provide a platform for industry leaders to discuss the effectiveness of such marketing strategies.
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