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Arsenal signs a deal with American gaming company- will now promote its cryptocurrency

Jan 26, 2018 Posted /  1790 Views

Arsenal signs a deal with American gaming company- will now promote its cryptocurrency

The English football club Arsenal has a huge fan following across globe and every year companies storm into sign deals in order to get their products and services promoted by the star players. This year an American gaming software company has approached the team to promote their new digital tokens

CashBet, a California-based company announced on Wednesday that the Premier League club had signed up to become it's “exclusive and official Blockchain Partner” ahead of the forthcoming “initial coin offering” (ICO) of its new cryptocurrency, “CashBet Coin”.

The CashBet statement declared that this agreement and collaboration has made Arsenal “the first major team in world football to officially partner with a cryptocurrency.” Arsenal’s Chief Commercial Officer, Vinai Venkatesham, said the North London club was “looking forward to working with CashBet Coin as they launch their new cryptocurrency”.

The CashBet website details about its operations and functionality. It states that the CashBet sells software that facilitates gaming companies accept bets with the help of cryptocurrencies. In the deal, it had been agreed that CashBet Coin will be exhibited at Arsenal’s Emirates Stadium, and CashBet can use Arsenal’s label, brands and merchandise to promote the new tokens.

The volcanic inflation in prices for cryptocurrencies such as bitcoin last year has garnered the attention of millions of buyers across the globe. A great number of new coins have been proposed for sale to the public. Nonetheless, regulators around the world have termed the investment mania as a dangerous bubble and said ICOs are “highly speculative” with investors putting their whole capital at risk.

Supporters of cryptocurrencies tell that the technology underpinning virtual coins- Blockchain technology has the potential to modify the design and arrangement of managing the money.

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Tags: official Blockchain Blockchain Partner Premier League digital tokens CashBet

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