Upbit logo to appear on Napoli FC jersey

Korean cryptocurrency exchange Upbit is taking its brand into the world of sports sponsorship. Its logo will appear on the back of Napoli’s jersey in the Serie A and Coppa Italia competitions.

Upbit is Bullish on Sports

Earlier this week, Napoli Football Club took to Twitter to announce the Upbit sponsorship. Despite the big news, Upbit is unusually quiet on its Twitter account. However, the deal was confirmed By Dunamu, a Korean fintech that operates Upbit.

In addition to the Upbit logo appearing on the jerseys, it will also be featured on advertising boards around the Stadio Diego Armando Maradona in Naples, Italy. Napoli plays in both the Serie A and Coppa Italia championships, which means double exposure for the Upbit brand.

Napoli, currently in first place in Serie A, is a beloved and successful team in Italian football, making it a valuable partnership for Upbit’s brand visibility. The team is undefeated at home during the 2022-23 season, winning their last five matches.

This sponsorship is surprising in the current market, as many exchanges have discontinued sponsorship programs. For example, Tezos recently ended its partnership with Red Bull Racing:

If this partnership proves successful for troubled Upbit, it could propel Upbit back to its former glory as a single. Top crypto exchanges in the world,

Can Upbit keep this deal?

Upbit’s Q3 2022 net profit down 73% to $120 million. caused a sharp decline falling valuation In the cryptocurrency market and low trading volume. A decline in global liquidity and contraction of capital markets may also have an impact on the performance of the Exchange.

This leaves the question whether the Korean fintech firm will be able to maintain this partnership with Napoli. Suffice it to say that Napoli are getting the better end of the deal. If this marketing stunt goes south, Upbit has everything to lose while Napoli remain at the top of the table.

It still remains to be seen whether or not the non-vocal Upbit will update its position on the partnership. His last communication on Twitter was on July 15, 2022 and on his Medium blog on April 2022.

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