Watford FC, a major English football club that finished 11th in the Premier League in the 2018-19 season, will be featuring the bitcoin logo every week for millions of football fans.
Watford FC Chairman and CEO Scott Duxbury stated:
Placing the Bitcoin logo on a Premier League shirt is something that challenges the accepted norm.
Watford is said to be placing the bitcoin logo on the shirt sleeve of the official Watford FC football jersey as a part of its sponsorship with Sportsbet.io, the primary shirt sponsor of the football club.
The betting firm’s head of marketing Justin Le Brocque said:
“The crypto community have been highly supportive of us since we began, so putting the bitcoin logo on the sleeve felt like a fun way to give something back while also showing them our support.”
According to Brocque, whose team decided to print the logo of bitcoin on the sleeve of Watford’s jersey instead of the company logo, one of the challenges the cryptocurrency sector faces is the lack of awareness from the mainstream.
Brocque explained that the partnership was established to educate the public on the advantages and opportunities made available through cryptocurrencies like bitcoin.
“Some of the biggest challenges we and others like us face is raising awareness, dispelling common myths around cryptos and educating the public on the advantages and opportunities presented by cryptocurrencies. Our partnership with Watford marks a major disruption in the world of traditional sports sponsorship, and by adding the Bitcoin logo we hope this world’s first partnership will create even more buzz around cryptocurrencies,” he said.
The viewership of the Premier League is said to have increased by more than 74 percent in the past decade in the United States, with hundreds of millions watching the league worldwide.
Major television networks including NBC increased the ratings of the Premier League in May 2019 as more than 2.2 million viewers tuned in to watch the final week of the Premier League, recording a 19 percent increase year-over-year.
On NBC alone, around 457,000 viewers watched the Premier League in the 2018-19 season on average, demonstrating two percent increase year-over-year.
Although bitcoin has struggled to demonstrate signs of an established safe-haven asset as of late as seen in the contrast in the performance between gold and BTC, the network has seen a steady increase in unique addresses and hash rate, which are considered to be important factors in the long term growth of the asset.
Over the past year, the number of total transactions settled on the bitcoin network increased from 340 million to 460 million. Around a similar period, the hashrate of the bitcoin network surged from 30 exahash to 100 exahash by more than three-fold.