Binance Sponsors Argentina’s National Soccer Team

The relationship between sport and the crypto market has been on a strong footing for some time. In spite of a marked increase in regulatory activity, sport and cryptos have continued to embrace.

At the turn of the year, Crypto.com (CRO) was particularly active in the sports sector. In late December, news hit the wires of crypto exchange Cypto.com buying 30 seconds of airtime at Super Bowl LV1.

Earlier in December, Crypto.com had announced a sponsorship deal with U.S professional woman’s soccer team Angel City FC.

Crypto.com has not only focused on the U.S sporting franchise. The exchange has also sponsored South America’s Conmebol, French football team Paris Saint Germain, the Coppa Italia, and even Formula 1.

When considering audiences numbers, it’s is an ideal avenue for Crypto.com and other exchanges to build brand recognition.

Binance Sponsors the Argentinian National Soccer Team

Argentinian football is no stranger to the crypto space. Earlier this month, news hit the wires of Argentina’s top national team goal scorer Lionel Messi launching his own NFT collection. This was reportedly after Messi had agreed to take a part of his salary in Paris Saint German’s fan tokens.

Overnight, Binance (BNB) released an announcement of the Argentine Football Association presenting Binance as the new Global Main Sponsor. According to the announcement,

• Binance will be the new Global Main sponsor of the national team for 5-years.
• The agreement with the Argentina Football Association (AFA) includes the development of a new Fan Token that will launch shortly.
• President of the AFA talked of important commercial agreements in recent years, increasing the AFA’s income in addition to venturing into new digital businesses with growth potential. The latest alliance is strategic and will generate excellent results for both parties.

Binance is no stranger to the sport. Earlier this year, Binance had been in contention to become FC Barcelona’s sponsor. Last year, Binance had signed a sponsorship deal with Italian football team Lazio. Binance also issued a fan token in recognition of the Lazio partnership.

Argentina’s national football team has won 2 football world cups, in 1978 and Diego Maradona’s “Hand of God” victory in 1986. At the time of writing, the team is ranked 5^th behind Belgium, Brazil, France, and England, according to FIFA’s world rankings.

Binance Coin (BNB) Price Action

At the time of writing, Binance Coin was up by 0.11% to $372. Having recovered from Monday’s current month’s low of $336.54, a move back through to $500 levels would support a run at December’s high $650.

Market sentiment will need to materially improve, however, for Binance Coin to break down resistance at $400.