The AFL has secured its first official cryptocurrency exchange and official cryptocurrency trading platform, agreeing to a major sponsorship deal with Crypto.com, worth a reported $25 million.
The cryptocurrency exchange app is based in Singapore and has existing partnerships worldwide at an estimated total of $1.5 billion, including French soccer club Paris St Germain and the UFC, and more recently has taken over the naming rights of the now-formerly known Staples Center in Los Angeles.
It is understood that Crypto.com has partnered with the AFL to become a major financial backer of the AFLW, with the five-year deal set to substantially aid the financial domain of the women's sporting sector, according to The Australian.Â
Women in Australia are understood to be more likely to invest in cryptocurrency compared to overseas, with the above-average usage a key attraction for Crypto.com.
“Uniquely for Australia, compared to other markets, is that they generally skew towards blokes, but here we are skewing more towards women,” Crypto.com general manager Asia & Pacific Karl Mohan told News Corp.Â
“It is very encouraging to see that Australians from all walks of life, irrespective of gender or background, are very keen to adopt cryptocurrencies and we think the AFL has led the way to bring gender diversity to Australian sport.
“Australia is an important market ... It is a tech-savvy population, it loves adopting technology early and the regulation is becoming very clear in Australia.”
The Western Bulldogs announced their partnership with cryptocurrency exchange CoinSpot in May last year, becoming the first company of its kind to partner with a major sports team in the country.
NBL side South East Melbourne Phoenix revealed late last year a deal that will allow fans to pay in cryptocurrency for memberships, sponsorships and corporate packages.