AS Roma flag

DigitalBits - Roma and Inter partnership: how did it go?

5 June 2023

Category

The world of football and technology have always embarked on powerful synergies, in an attempt to take advantage of the new opportunities offered by digital solutions to improve the fan experience and increase the involvement of fans. However, not all collaborations between sports clubs and technology companies have been successful, as evidenced by the partnership that ended badly between DigitalBits, a promising cryptocurrency company, and two of the most important Italian football clubs, Roma and Inter.

What is DigitalBits

DigitalBits is a company created to facilitate the digitization of traditional assets and the creation of tokens on blockchain. Founded in 2017, the DigitalBits platform aims to overcome the interoperability and scalability challenges that hinder cryptocurrency adoption in the mainstream industry. Using Stellar technology, DigitalBits delivers fast and affordable transactions, with a particular focus on tokenizing assets such as loyalty points, luxury brands and more.

The platform is equipped with advanced features such as smart contracts and allows developers to create custom decentralized applications. In addition, DigitalBits works with companies and institutions to harness the potential of cryptocurrencies and blockchain in areas such as commerce, finance and more. With a strong technological foundation and an ambitious vision, DigitalBits is gaining a place in the cryptocurrency landscape as an innovative and promising project.

The partnership between DigitalBIts and Roma and Inter clubs

Between 2020 and 2021, when the value of Bitcoins reached 60 thousand dollars each, DigitalBits has engaged with the Italian football clubs Inter and AS Roma. But things did not turn out as hoped.

Roma

The Italian Capital team signed a three-year agreement with the cryptocurrency platform on 8 July 2021. The contract with what becomes the Main Sponsor provided for a total value of 40 million divided into:

  • 5 million the first;
  • 10 million the second;
  • 25 million the third.

In reality, only the due figures were paid until the end of 2022.

Inter

It was different for Inter. The club of Avenue of the Liberation had signed with DigitalBits before a contract as a Channel Sponsor worth 5 million euros that were paid. Then they signed an agreement with the Main Sponsors for a four-year period of 85 million euros that would never arrive.

This is learned from an official note issued by Inter Media and Communication, the company where media revenues and sponsors of the club converge. The statement states that the now former sponsor DigitalBits, has not fulfilled the payment of any installment agreed with Inter. Between the fixed part and the bonus on the balance sheet he made a shortfall of about 30 million.

In March 2023 both clubs decided to remove DigitalBits from their players' jerseys. There was a gap on Inter’s chest for the rest of the season, while Roma replaced the Main Sponsor with SPQR.

The value of DigitalBits token before and during the deal with Inter and Roma

Fonte: CoinMarketCap

No active "ca-sidebar-59" sidebar
Recent Post

With Buterin's enthusiasm on AI based blockchain and after Sora's launch, AI crypto growth is real

torrevieja crypto-themetaeconomist

Crypto-friendly cities: Torrevieja (Spain) creates a plan to pay with crypto

first ICO on bitcoin blockchain-themetaeconomist

Bitcoin Dogs is about to launch the first ever ICO on Bitcoin Blockchain

Polygon's attraction, 6 thousand new developers for MATIC cryptocurrency

deso blockchain

DeSo likes DeFi

MetaMask is working at a new way to interact with blockchain users

1 2 3 60
TheMetaEconomist 2022 - Privacy / Cookies
crossmenu