Inter Milan FC and Zyatara Labs have signed a new partnership deal worth millions of dollars. Zytara will be the official global digital banking partner of the football club.
FC Internazionale Milano and Zytara Labs announced Thursday that they had signed a multi-year product collaboration agreement worth €85 million ($100 million) with the help of the Digitalbits Foundation.
Inter’s ambition to reach out to an audience that is more digital, global, and diverse in age ranges would be aided by the collaboration, according to the companies in a news statement.
Zytara will be Inter’s “official global digital banking partner,” and digitalbits (XDB) will be the club’s “official global cryptocurrency,” according to the agreement.
Users will be able to access crypto-based products through the Inter mobile app, which will be developed by the fintech firm and integrated with its digital banking services. Inter’s home game tickets will be sold primarily through the app.
The Italian soccer company intends to use the XDB coin to accept crypto payments in its stadiums, as well as online and in its physical stores throughout Milan.
The partners have stated that they want to use the Digitalbits blockchain to construct digital player cards and non-fungible tokens (NFTs) for the Nerazzurri’s global fan base. Alessandro Antonello, CEO of Inter Corporate, said:
While digital-first experiences are vital for all sport clubs, our partnership aims higher. By leveraging Zytara digital banking and blockchain technology we will be able to enhance our global reach towards younger and digital savvy audiences.
The Digitalbits brand will become the European football team’s new sleeve sponsor, according to the conditions of the collaboration.
In all official domestic and international matches, the cryptocurrency’s logo will feature on all Inter shirts for both the men’s and women’s first teams, as well as the Primavera and junior sides. Zytara and the Digitalbits blockchain were founded by Al Burgio, who stated:
Our collaboration will position Inter as one of the most technologically advanced and forward-thinking clubs in the world. We’re thrilled to partner with the reigning Italian champions and a club with such a rich history.
Inter and Zytara’s cooperation will be commemorated with limited edition Nerazzurri items, which will be available by the end of the month. Inter supporters will be able to make a crypto purchase using the XDB token as part of the sale.
This isn’t the first time the Italian soccer league Lega Serie A has had a sponsorship contract like this. AC Milan, Inter’s city rival, signed a long-term business arrangement with Bitmex in early August, putting the crypto exchange’s insignia on Milan’s jerseys. The club’s “official sleeve and crypto trading” partner is Bitmex.