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CoinJar scores partnership with Melbourne Demons, in market first sponsorship

Melbourne-founded cryptocurrency exchange, CoinJar has announced a partnership with the Melbourne Football Club.

This is the first crypto sponsorship the AFL has seen to date, with CoinJar set to sponsor both the Demon’s men and women’s teams.

Melbourne coach Simon Goodwin with CoinJar’s CMO Dominic Gluchowski

According to CoinJar, the site has over half a million customers in Australia, stating that it “wanted a partner that could match crypto for excitement and momentum”.

“CoinJar is thrilled to be joining forces with a champion club that shares our passion, professionalism and innovation mindset – as well as a proud and very vocal fanbase,” said CoinJar CEO, Asher Tan.

Tan said that the partnership with Melbourne is a long term play: “At a time of increased credibility, proven strength and swelling of interest in cryptocurrency, we are focussed on building an iconic brand which will stand the test of time – much like the Melbourne Football Club.”

CoinJar is a marketplace for buying and selling cryptocurrencies such as Bitcoin and Ethereum. Its proposition will be communicated to the market and fans of Melbourne Football Club through content partnerships, player engagements, stadium branding and offers for club members.

CoinJar is also the club’s List Management partner which will see the logo across all club recruiters and list management kit.

While this sponsorship does highlight a fast-growing industry, it also comes at a time when the future of crypto sits in the spotlight. Crypto was in the headlines this week after a tweet from Tesla chief Elon Musk led Bitcoin’s price to dive by 15%. Musk tweeted that Tesla would no longer be accepting Bitcoin as a form of payment moving forward, due to the environmental impacts of mining the coin, leading to the 15% drop in 24 hours.

Such a severe fluctuation due to a tweet from an individual poses questions about the stability of a market worth a reported $2 trillion, however Tan sees the cryptocurrency industry only going one way.

“Like the Demons, cryptocurrency has been written off for years, but now it’s going mainstream and becoming impossible to ignore.”

Commenting on the partnership, Melbourne CEO Gary Pert said: “CoinJar is operating and excelling at the absolute cutting-edge of digital technology and we’re tremendously excited to welcome them to the Melbourne Football Club family.”

This market first sponsorship could be the foundations of more cryptocurrency marketing partnerships in the months and years ahead.

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