Bitcoin, cryptocurrency, and blockchain technology have become a massive part of the sporting world. And this impact can be seen clearer in tennis than in almost any other sport.
In this article we will assess the partnerships and the impact of cryptocurrencies on the sport of tennis, and how players, fans, and tournament organizers have adopted cryptocurrency.
Crypto gambling on tennis
Tennis is one of the biggest sports in the world and the sport is at the forefront of crypto betting sites. Crypto sports betting sites welcome a lot of tennis fans through their doors and run regular promotions and bonuses tied to tennis events.
In some cases, some betting websites offer bigger promotions on certain tennis tournaments, knowing that there are millions of fans out there looking to place their predictions on certain games, or certain players.
ATP and PaySafe partnership
In 2019, the Association of Tennis Professionals (ATP) announced a partnership with PaySafe. PaySafe was entrusted with providing cryptocurrency payment options to tennis fans for merchandise and tournament tickets.
This allowed tennis fans a chance to make everyday purchases with cryptocurrency, boosting adoption and bringing the idea of making payments with Bitcoin and other cryptocurrencies to the forefront of the tennis communities’ imagination.
Naomi Osaka’s deal with FTX
Naomi Osaka was in partnership with FTX before the cryptocurrency exchange’s disastrous bankruptcy, like several other world-famous athletes. The four-time grand slam winner became the highest-paid female athlete in the world thanks to the sponsorship, surpassing the great Serena Williams.
Osaka’s role in the partnership was to improve the chances for young women in crypto. She wore the branding of FTX, debuting it in the Miami Open, embroidered on the top left of her tennis uniform. Her partnership with FTX helped familiarise tennis fans with the cryptocurrency exchange and helped garner mainstream attention for cryptocurrency.
Serena Williams’ partnership with Sorare
Arguably the greatest tennis player to ever play the game closed a deal with Sorare as she came on board to help the fantasy sports company build business relationships with the sporting world. Although Sorare has not mentioned anything about directing their focus on tennis next, the fanbase that Serena Williams will generate is massive
This will once more put more spotlight on the company as they look to grow and conquer the sporting world. The twenty-three-time grand slam winner will be backing this Parisian company.
With all the work Serena has taken part in, Bitcoin deemed it fit to make her their 2022 speaker in the world of finance. Through her company ‘Serena Ventures’ which was founded in 2014, she has gone on to invest in multiple Bitcoin-centric companies.
Roger Federer’s $10 million Bitcoin investment
One of the greatest tennis players of all time, Roger Federer is rumored to have invested $10 million in Bitcoin back in 2021. This was massive as Roger Federer is one of the most loved athletes on the planet. He was also a brand ambassador for some of the most famous companies in the world, namely Rolex and Nike.
This story gaining traction did a lot of good for the cryptocurrency world as many people became more curious about this “new trend” that Roger Federer was investing in.
Tennis Australia’s commitment to NFTs
Tennis Australia vows to stand firm with NFTs despite the decline in the crypto market. The Open’s NFTs debuted last year as they sold 6,776 pieces. This was when the interest in NFTs was still at its peak, the NFTs sold for 0,0067 ETH.
The interest in NFTs has since then declined, but the Australian Open has insisted on standing firm with their initial decision to venture fully into the crypto world. Ridley Plummer, the senior manager of the metaverse, NFTs, Web3, and cryptocurrency for Tennis Australia confirmed that the organization was not in it for short-term success but rather for the long run.