• Inter, the Italian soccer champion, has secured a $100 million cryptocurrency partnership deal

  • Inter Milan, Italy’s reigning soccer champion, has agreed to collaborate with blockchain startup Zytara Labs. The collaboration aims to give users of the club’s mobile app access to cryptocurrency products while also allowing Inter to create digital collectibles for fans all over the world.

    Italy’s Inter has found a sleeve sponsor in the cryptocurrency industry.

    The €85 million ($100 million) multi-year product partnership agreement was announced on Thursday, with support from the Digitalbits Foundation, FC Internazionale Milano, and Zytara Labs. According to the entities in a press release, the collaboration will facilitate Inter’s plan to reach out to an audience that is increasingly digital, global, and diverse in age groups.

    As part of the agreement, Zytara will become Inter’s “official global digital banking partner,” and digitalbits (XDB) will become the club’s “official global cryptocurrency.” The fintech company will work on developing the Inter mobile app and integrating its digital banking services, allowing users to access cryptocurrency-based products. The app will be the primary source of revenue for Inter’s home game tickets.

    The Italian soccer giant intends to accept crypto payments using the XDB coin in stadiums as well as online and physical stores throughout Milan. The partners stated that they plan to use the Digitalbits blockchain to create digital player cards and non-fungible tokens (NFTs) for the many Nerazzurri fans around the world. Alessandro Antonello, Inter Corporate CEO, stated:

    While digital-first experiences are critical for all sports clubs, our collaboration has a higher goal. We will be able to expand our global reach to younger and more digitally savvy audiences by leveraging Zytara digital banking and blockchain technology.

    According to the terms of the partnership, the Digitalbits brand will become the European football team’s new sleeve sponsor. In all official domestic and international matches, the cryptocurrency’s logo will appear on all Inter jerseys for both the men’s and women’s first teams, as well as the Primavera and youth teams. Al Burgio, the founder of Zytara and the Digitalbits blockchain, made the following observation:

    Our collaboration will establish Inter as one of the world’s most technologically advanced and forward-thinking clubs. We are ecstatic to be collaborating with the reigning Italian champions and a club with such a rich history.

    The launch of the Inter-Zytara partnership will be commemorated with limited edition Nerazzurri merchandise, which will be available by the end of this month. Inter fans will be able to make a cryptocurrency purchase using the XDB token as part of the offering.

    This is not the first sponsorship agreement of its kind in the Italian soccer league Lega Serie A. AC Milan, Inter’s city rival, signed a long-term partnership agreement with Bitmex in early August, putting the crypto exchange’s logo on Milan’s jerseys. Bitmex was appointed as the club’s “official sleeve and crypto trading” partner.

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