Cryptocurrency and blockchain technology has infiltrated many markets since its inception. Many expected the shift in the financial and investment industry. 

However, it’s also become part of the gaming industry, with blockchain-based games becoming more popular. Below, we explore one of the latest shifts in crypto entering the football market.

The Impact of Cryptocurrencies on Football

Crypto has become part of the football market in various ways. Before we dive into the specifics of the African football market, let’s look at international developments.

Crypto Betting Sites

Cryptos typically infiltrate the sports market through crypto betting sites. Using cryptos like Bitcoin, Ethereum, Litecoin, and Dogecoin, you can place a football sportingbet on the site. Crypto betting sites allow deposits and payouts of winnings in these digital currencies. 

Changing the Premier Leagues

Cryptos have recently made their way into the Premier Leagues, but for a while, they were limited to advertisement boards and printed jerseys. However, more cryptocurrencies are starting to invest in sports leagues. After all, it’s an excellent way to grow their global exposure. Now, football clubs create unique NFTs (non-fungible tokens). Fans can collect these tokens digitally instead of using traditional stickers.

Fantasy Football on Ethereum Blockchain

Another significant development is Ubisoft’s free-to-play fantasy football game, which Ubisoft and Sorare launched on the Ethereum blockchain in 2021. The One Shot League offers a basic game for free and features digital player collectables like NFTs and player cards. Players can choose a five-player team weekly and compete for points, with limited-edition cards awarded to the winners.

CryptoStrikers

Another Ethereum movement in the football industry is CryptoStrikers. It was established in 2018 and is the first sports NFT on the Ethereum blockchain. It allows users to buy digital football trading card packs. Some of these trading cards are extremely rare and valuable. For example, the Christiano card sold for $120,685, while the Mo Salah card sold for $141,560.31.

Football Developments in Africa

Crypto isn’t just an excellent investment currency, as Cameron Winklevoss shows. It’s also a growing digital currency that reaches markets like African football. Below, we look at what’s happening in the African football industry and how crypto influences it.

AFCON and Crypto Sponsors

In 2022, BinanceAfrica announced its sponsorship of the TotalEnergies Africa Cup of Nations (AFCON). To enable this move, Binance partnered with the CAF (Confederation of African Football). With Binance as the official sponsor, AFCON gained more visibility and supported its growth as the most significant African football tournament.

This partnership and sponsoring helped Binance gain more visibility. It had advertisements during the AFCON and gained interest among football fans. It’s further iconic as Africa has a volatile relationship with cryptocurrency. The only countries with crypto activity are South Africa, Nigeria, Zimbabwe, Ghana, Botswana, and Kenya.

However, some countries, like Nigeria, actually made cryptos illegal. That’s why this sponsorship was such a monumental movement. It also opens the possibility of other brands sponsoring African football. The more well-known sponsors this tournament can get, the better its global recognition. 

Ethereum has already shown interest in the football industry. Through its CryptoStrikers and Ubisoft partnerships, it shows a willingness to enter the market. As such, it’s not too far-fetched to think that this brand might even sponsor AFCON teams.

AFCON’s Growth

AFCON has made various strides to become more visible and popular among sports fans. We can see the fruits of its labour in the results of recent studies. These studies showed that content creators covering the tournament saw up to a 300% revenue increase. They gained more viewers and followers who wanted to watch AFCON matches. 

The latest news reports that the 2025 AFCON will occur in Morocco between July and August of next year. With the date established, we look forward to seeing possible crypto sponsors step forward.

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