The sponsorship of high-profile sports and teams may be key to legitimizing the crypto industry to the general masses, according to Luke Ryan, Head of Content at Australian crypto exchange CoinJar.
In May 2021, the exchange became the first crypto company in Australia to sponsor an Australian Football League (AFL) club by partnering with the Melbourne Demons.
Speaking to Cointelegraph at the Australian Crypto Convention on Sept. 18, Ryan remarked the AFL partnership changed the discussion around cryptocurrency in the country and that “it gives cryptocurrency a bigger sense of permanence.”
“Perhaps prior to this real punch into the sporting mainstream it was very easy for a lot of people to think ‘oh, this cryptocurrency thing, it's going to fade away, or it has already faded away,’” he said.
“There's a real declaration of intent by the industry, not necessarily about ‘we sponsor this team, and then we got X number of new users’, it's more about we sponsor this team because we want...
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