League One Barnsley, a professional football club based in South Yorkshire, England, is looking to finalize a deal with a cryptocurrency company. What distinguished the company The name is on the jerseys of the players. The company – known as Hex.com – is accused of discriminatory and offensive posts on social media.
Barnsley says goodbye to Hex.com
Barnsley has only been a partner of Hex.com for a few short weeks, however the club is already looking to move away from the company due to the amount of bad publicity it seems to be attracting. While the publications in question may not come from the company itself, it is likely that they were posted by specific individuals who did, in breach of the terms of the contract the company entered into with Barnsley.
The football club said in a statement:
Barnsley Football Club values our fans and core beliefs above all else. Following recent events and subsequent investigation, the club has evaluated its relationship with its first sponsor and has taken steps to terminate that relationship with immediate effect. The HEX.com logo will not appear on team kits from now on. Further comments will be issued in due course.
This situation has led to calls for the Football Fans Association to examine the common standards of both gaming and crypto companies to ensure due diligence is done before establishing partnerships.
Over the past several years, teaming up of sports teams or athletes and crypto companies has become relatively common. Possibly one of the largest partnerships in space history includes the formation of cryptocurrency exchange FTX, quarterback star and football legend Tom Brady. Not too long ago, Brady appeared in a TV ad created by FTX that ridiculed the mining process.
In addition, FTX has also formed a partnership with Florida softball team The Seminoles. Team members will eventually get paid with crypto assets if the company is allowed to use their names, photos, and the like in various ads on social media platforms and in other capacities.
Sports and coding… a perfect match?
Kaley Mudge – FSU defensive player – explained in an interview:
FTX originally reached out to me and kind of helped set up a few Zoom meetings so we could learn more about what cryptocurrency is and what they expect from us in the deal. We were not allowed to do any group deals, but they offered each of us individual contracts for whoever was interested. Most of the team is involved in the deal… They were very helpful. It was a fun deal.
At the time of writing, the cryptocurrency is not currently regulated in the UK where Barnsley is based. This has resulted in several regulatory agencies working to block encrypted ads and related organizations.
#Barnsley #discontinue #crypto #partnership #Hex.com