A new study by BITmarkets highlights the growing entanglement between elite athletes and cryptocurrency, with global sports sponsorship spending in digital assets surpassing $742 million in 2022 across 230 active contracts. The research, published by the cryptocurrency exchange, examines how high-profile figures across football, basketball, and other sports have engaged with crypto through NFTs, fan tokens, and salary conversions.
The NBA’s rapid adoption of crypto sponsorship is a standout example, with the sector rising to the second-largest corporate sponsorship category in a single season, generating between $100 million and $150 million annually for teams and the league. This shift underscores the sector’s expanding influence, with athletes such as Cristiano Ronaldo, Lionel Messi, and Serena Williams featured in BITmarkets’ ranking of top figures involved in crypto partnerships.
The study also notes that 99.9% of client funds at BITmarkets are stored in cold storage, a measure intended to bolster security amid rising concerns over digital asset safeguards. As crypto’s footprint in sports continues to grow, the report suggests that athlete endorsements and financial arrangements involving blockchain technologies are likely to become more prevalent.
Written by James Tobias
Bitcoin Desk
