In the sports world, cryptocurrencies are shaking things up and leagues are jumping on board to stay ahead of the game. A recent example of how sports organizations embrace cryptocurrency is the partnership between the Vienna Vikings, the European League of Football (ELF) champions, and cryptocurrency platform Choise.com.

Crypto companies are becoming a popular sponsorship option for teams and athletes, and this is likely to remain the case going forward. According to Nielsen Sports, the value of cryptocurrency deals with teams and leagues is estimated to reach $5 billion by 2026. 

There are many other teams and leagues that are adopting the technology and creating relationships with cryptocurrency firms.

A striking example of blockchain technology gaining traction in the sports industry is the NBA, where the Sacramento Kings began accepting Bitcoin for tickets and merchandise over a decade ago, to the point where they now offer the Top Shot NFT marketplace where users can buy, sell, and trade NBA Highlight Moments of various rarities.

Major teams are now looking for ways to take advantage of the potential of crypto as a payment method, along with its marketing potential. For instance, the NHL team, San Jose Sharks, accepts cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. 

During 2022, the NFL’s Dallas Cowboys signed a sponsorship deal with Blockchain.com and Manchester United FC signed a $27 million sponsorship deal with Tezos. 

The above-mentioned partnership between Choise.com and the Vienna Vikings is the latest example of a crypto company joining forces with a professional sports team. As a result, the Vienna Vikings will further promote crypto adoption among fans and the league, while Choise.com positions itself as a high-profile partner and solidifies its status as one of the industry giants. 

As a whole, the crypto-sports alliance is beneficial to both sides. Blockchain technology enables reliable payment systems, real-time analytics, performance tracking, and secure transactions. In the meantime, cryptocurrency companies gain exposure in the sports world. 

These partnerships between sports teams and crypto platforms show the increasing acceptance of cryptocurrencies and their potential to revolutionize the sports industry. As time goes on, more sports teams and organizations are likely to join the crypto space, increasing its reach and adoption.