Hassan Maishera
TL;DR
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Floki has partnered with various English Premier League teams to feature its FLOKI token and upcoming game, Valhalla.
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Its native token has risen by 3% in the last 24 hours despite bearish market conditions.
Floki Partners with English Premier League Teams
Memecoin Floki has secured deals with various English Premier League (EPL) teams. The partnership will see its FLOKI token and upcoming Valhalla game feature on various EP properties as part of an initial one-year contract to help boost its visibility.
This latest development comes as Floki strengthens its efforts to become more than just a meme project. The team is building the metaverse game Valhalla, the real-world asset tokenization platform TokenFi, and launching staking and banking features to increase the utility of its FLOKI token.
FLOKI will be Nottingham Forest's official cryptocurrency partner. Furthermore, their Valhalla game will be featured on the back of the Sunderland AFC jersey and displayed as on-screen ads throughout all league games.
Its native token, FLOKI, has been up 3% in the last 24 hours despite the bearish market conditions. At press time, FLOKI is trading at $0.0001254 and has a $1.2 billion market cap.
While speaking to CoinDesk, a Floki team member said,
“It is a potential multi-year agreement and a minimum one-year/season deal. Regarding the benefits to Floki holders, there are many, such as increased brand awareness & recognition as well as the exposure to our ecosystem and community.”
Floki is yet to reveal the cost of these sponsorships, citing deal confidentiality. This isn’t the first time cryptocurrency companies have used sporting institutions to gain visibility.
Binance, Crypto.com, and FTX are among the crypto companies that have splashed millions of dollars in obtaining partnerships with sports teams.
Floki's Sabre is optimistic about the prospects of the partnerships. They concluded that
“Unlike many exchanges and large projects that invest heavily in securing partnerships, we achieve exceptional value by spending a fraction of the cost. Our direct relationships with well-established and highly respected organizations enable us to maximize our impact in the blockchain space. As we've seen with similar timing and partnerships from top exchanges, we expect this exposure to capture retail interest as we approach and enter 2025.”
