Floki, the cryptocurrency project renowned for its FLOKI token and Valhalla metaverse game, has taken a major step into the mainstream sports arena by securing a high-profile partnership with the English Premier League (EPL).
This move aims to boost Floki’s brand visibility and expand its user base by leveraging one of the most watched and valuable football leagues in the world.
Official cryptocurrency partner of Nottingham Forest
The EPL, widely recognized as the pinnacle of English football, comprises twenty elite teams and is considered the most valuable football league globally, according to Transfermarkt.
By partnering with the EPL, Floki seeks to distance itself from its meme coin origins and reposition itself as a serious contender in the cryptocurrency space.
As part of this partnership, Floki has become the official cryptocurrency partner of Nottingham Forest, one of the EPL’s prominent teams.
Additionally, Floki’s metaverse game, Valhalla, will feature prominently on the jerseys of Sunderland AFC, another notable football club.
The Valhalla logo will also appear as on-screen ads during all league games. Initially set for a one-year duration, this partnership may be extended if it proves successful.
How will the EPL partnership help Floki?
Floki’s foray into the EPL is a key element of its broader strategy to integrate more robust use cases into its ecosystem.
Beyond its origins as a meme coin, Floki is now focusing on platforms like Valhalla, a metaverse game, and TokenFi, a platform designed for the tokenization of real-world assets.
These initiatives are complemented by staking and banking features that aim to increase the utility and appeal of the FLOKI token to a broader audience.
Market Reaction: FLOKI Token on the Rise
The announcement of Floki’s EPL partnership triggered a notable market response.
The FLOKI token surged by 10% following the news, eventually stabilizing at a 7% increase, trading at $0.0001264.
This upward movement reflects the market’s optimistic view of the partnership and its potential to drive long-term benefits for the Floki ecosystem.
However, the financial terms of the sponsorship deal remain undisclosed due to confidentiality agreements.
Floki’s head of marketing, Sabre, revealed that the partnership was secured through direct negotiations, bypassing a formal bidding process.
This approach suggests a strategic and potentially cost-effective maneuver by Floki.
Sports-crypto partnership: Is it good?
Floki’s partnership with the EPL is part of a broader trend of cryptocurrency projects aligning with sports entities to enhance brand visibility.
Notable examples include Crypto.com’s $700 million deal for the naming rights to the Staples Center in Los Angeles and FTX’s and Terra’s substantial contracts with sports teams and venues globally—before their respective downfalls.
While these partnerships often generate immediate market interest, as seen with the FLOKI token’s price surge, the long-term impact on token prices and brand recognition can vary.
For Floki, the partnership with the EPL represents a calculated risk that could yield significant returns by capturing the attention of retail investors as the cryptocurrency market potentially enters a new growth phase in 2025.
By aligning with one of the world’s most prestigious sports leagues, Floki is positioning itself to secure a strong foothold in the competitive cryptocurrency landscape, aiming to attract a broader audience and solidify its place in the market.
The post Floki teams up with Premier League to shed meme coin image and elevate cryptocurrency status appeared first on Invezz
