Floki Scores Major Deals With English Premier League Teams

4 months ago |   readers | 3 mins reading
Floki Scores Major Deals With English Premier League Teams

Meme coin Floki’s FLOKI token and Valhalla game will feature on various English Premier League (EPL) properties as part of an initial one-year contract to help boost visibility for the $1.2 billion capitalization token.
The English Premier League sit on the top tier of England’s football pyramid, and features twenty local teams. It is the most-valued football league as per sports data site Transfermarkt.
Floki has been steadily trying to move away from its meme status, building the metaverse game Valhalla, real-world asset tokenization platform TokenFi, and introducing staking and banking features to boost appeal for the FLOKI token.
FLOKI tokens will be the cryptocurrency partner for Nottingham Forest. Their upcoming game Valhalla will feature on the back of the Sunderland AFC jersey, and will additionally be displayed as on-screen ads throughout all league games.
FLOKI jumped as much as 10% after CoinDesk’s report on the EPL deals. At the time of writing, the token was up 7% at $0.0001264.
“It is a potential multi-year agreement and a minimum one-year/season deal,” a Floki team member told CoinDesk in an interview. “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.”
The team did not reveal specific costs for the various sponsorships, citing deal confidentiality. However, head of marketing Sabre told CoinDesk that there was no bidding process as the team had “direct contacts” – circumventing a key step in such deals.
Crypto teams often sponsor sporting events and notable stadiums to boost the visibility of their projects. In 2021, exchange Crypto.com paid $700 million to gain naming rights for the Staples Centre in Los Angeles. Defunct exchange FTX signed multiple hundred million deals to place its brand on sports centers and avenues worldwide, and crypto project Terra signed a five-year contract worth $40 million, with the Washington Nationals in 2022.
It is unclear, however, how much these partnerships eventually help the brands and influence token prices. But Floki’s Sabre remains upbeat on the prospects.
“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,” they added.
UPDATE (August 20, 11:50 UTC): Adds a line on FLOKI’s jump after the report on the EPL deals.
Edited by Parikshit Mishra.
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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