It has just been announced that crypto trading platform StormGain is now an official sponsor of the English football team Newcastle United.
Head of Commercial at Newcastle United Dale Aitchison said:
“We are always looking to support the team by being open to new commercial opportunities and this represents another important partnership for the club. StormGain offers many great opportunities and money-can’t-buy experiences for fans, and we are really looking forward to working together.”
This is huge news for the crypto world, considering the sheer scale of Newcastle United. A partnership of this magnitude indicates a shifting global attitude toward cryptocurrencies.
What is StormGain?
StormGain is an online crypto trading platform, which means that they buy and sell multiple cryptocurrencies. Some trading platforms focus on mostly on exchange services, giving their users simple functions like deposit, withdraw, sell, or buy cryptocurrencies either for a real world currency or another cryptocurrency.
Trading platforms are among the most lucrative businesses in the cryptocurrency world. It’s in these platforms that people exchange real money for cryptocurrencies. Without trading platforms, it is hard to envision a world in which cryptocurrencies are worth anything. StormGain, as the name suggests, is more focused toward investing. They offer an environment best suited for those looking to grow their money with cryptocurrencies.
Crypto investments are inherently unregulated, quite like cryptocurrencies. This makes such investments both riskier and more attractive; having no regulation is something that allows for huge wins, but also increases the risk of huge losses.
StormGain claims that their users may even be able to increase their money a hundredfold with a single click. This may be an insane amount to consider, but it may just be a reality. Cryptocurrencies are unpredictable by nature, and this makes hundredfold gains possible – though it also allows for hundredfold losses.
The trend toward sponsoring football teams
Major players in the cryptocurrency industry seem to be trending toward sponsoring or partnering up with football teams.
St. Benfica, a Portuguese football team, now accepts bitcoin and ether payments for their merchandise and tickets. The payments are provided by UNTRUST, which indicates a functional partnership. CoinMarketCap, a company that works with collecting and providing data regarding trends in the cryptocurrency markets, also turned to football team sponsorship. In May of this year, CoinMarketCap became a proud sponsor of Beitar Jerusalem Football Club.
Something about the football teams seems to be drawing attention from the crypto industry. It is speculated that this may be the case after the decision of a Gibraltar football team to start paying their players in cryptocurrency made headlines.
Gibraltar United is a Premium Division team, owned by Pablo Dana. Dana, a fellow investor in the crypto industry, believes that by paying his team through cryptocurrencies, he is helping the cause against corruption in sports by increasing transparency.