Bitcoin. Cryptocurrency. Blockchain. Smart Contracts. All are buzz words to garner excitement around new or existing projects.
Nothing is sexier than saying ‘our project is integrating blockchain technology and utilizing smart contracts in order to create seamless and secure transfers of data or currency’.
There is a stigma that only a small percentage of people in American know – or care – about bitcoin. That most people claim it’s a hoax or a waste of time and money. But let’s flip that stereotype on its head.
Coinbase conducted a study that shows, in the past year, people in America have Google searched ‘Bitcoin’ more often than the terms ‘election results’ (likely referring to the 2016 presidential election), ‘royal wedding’, and ‘Kim Kardashian’.
How about that? The American people are ‘keeping up with Bitcoin’ more than the Kardashians.
According to Coinbase’s study, 58 percent of Americans say they have heard of Bitcoin.
Now there are some concerns when it comes to Generation Z, people who are between the ages of 13-21. This generation had a front-row seat to the 2018 Bitcoin crash. Per a recent report from Business Insider, almost 52 percent said they were not at all likely to purchase cryptocurrencies in the next six months. A mere 11 percent said they were very interested in purchasing cryptocurrencies over the same time period.
It is curious how much of an impact Facebook’s Libra crypto will have on a generation who has focused its social media attention to alternative platforms like Instagram, Twitter, and TikTok.
A positive reaction to Libra and Bitcoin’s rebound could right the ship when it comes to the opinions of Generation Z.
Blockchain Marketing and Professional Sports
sBetOne, the subsidiary of ICOx, is developing cryptocurrencies and blockchain-powered platforms for regulated online gambling in the United States.
sBetOne’s strategies include marketing through athlete and celebrity-focused sponsorships of their golf and esports betting marketplaces.
In addition to celebrity and athlete endorsements, sBetOne plans to roll out digital wallets and branded cryptos for Celebrities and Brands in the sports betting space. Doing this could lead to lower transaction costs and greater customer data management when it comes to sports betting.
Engaging the likeliness of celebrities and big-name brands for these digital currencies should allow sBetOne to reach mainstream status fairly quickly.
Mass adoption took another step forward in major professional sports as Litecoin became the Official Cryptocurrency of the Miami Dolphins (NFL) this week.
Litecoin has played in the sports marketing space before but a deal with the NFL is a massive step forward for the crypto industry.
“This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real-world use cases in ways previously not possible,” said Charlie Lee, the creator of Litecoin, in a statement. “We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”
The partnership includes in-game branding and sponsorship within Hard Rock Stadium. Additionally, fans will have the ability to pay for 50/50 raffles tickets in Bitcoin or Litecoin – half of the money raised goes towards the Miami Dolphins Foundation and its charitable causes.
