Watford’s shirt sleeve sponsor for the upcoming 2021-22 season will be the memes-based Dogecoin cryptocurrency.
According to a Watford FC insider, the deal is worth more than £ 700,000 and will exceed the £ 1million sponsorship deal the Premier League club signed with its previous Bitcoin sleeve partners if the terms of the bonus are met. fulfilled.
Dogecoin was launched as a joke currency in 2013 and is based on the popular meme of a Japanese dog Shiba Inu.
The Watford FC insider has defended the partnership with Dogecoin, hosted by the club’s main shirt sponsor, Stake.com. They said that “Elon Musk’s involvement has [Dogecoin] into a serious entity.
Despite his ironic origins, Musk has repeatedly touted the currency-meme on Twitter, which claims his son is a “hodler” Doge, a term used to describe a toddler who owns a crypto.
The source added that they “hope to open up the club to a new fan base” with the release of shirts featuring Doge. They said the club had already been inundated with requests from fans “around the world” since news of the partnership broke in The Athletic.
Billy Markus, one of the software engineers behind Dogecoin, commented on the Watford deal via Twitter under the handle “Shibetoshi Nakamoto”, a play named after the anonymous creator of Bitcoin.
He said: “Watford FC’s new shirt with Dogecoin in the Premier League is a big deal.”
Following the announcement of the partnership on Saturday, Dogecoin’s trading volume for the 24-hour period reached $ 5.79 billion (£ 4.18 billion), up 294% from the previous day. The price has risen 29% in the past five days and is up 7,223 percent this year to date.