Inter Milan signs $100 million sponsorship deal with blockchain company Zytara Labs

The reigning Italian champions, Milan’s football club Inter, have signed a multi-year sponsorship deal worth €85 million ($100 million) with Zytara Labs, with the support of the non-profit DigitalBits Foundation.

$100M Multi-year partnership@Inter X @Zytarahq X @DigitalBitsOrg

⚽️ $XDB Official Global Cryptocurrency
⚽️@Zytarahq Official Global Banking Partner
⚽️@Inter integrating #DigitalBits to accept $XDB
⚽️@Inter App integrates Zytara banking platformhttps://t.co/2aVXYHnvJE

— DigitalBits (XDB) (@DigitalBitsOrg) September 2, 2021

Under the agreement, the DigitalBits (XDB) token will become Inter’s official cryptocurrency, and Zytara Labs will be a global partner for digital banking.

The firm, together with the club, will develop a mobile application using its own technology. It will provide access to cryptocurrency products and become the primary means of purchasing Inter match tickets.

Zytara Labs, a subsidiary of fintech firm Zytara, develops solutions based on the DigitalBits and Ethereum blockchains.

According to the statement, the club will use the DigitalBits network to integrate XDB payments at the stadium, in the official online store and at retail points of sale in Milan.

The partners will also issue digital player cards and non-fungible tokens (NFTs) on this blockchain.

The DigitalBits logo will be present on the sleeves of Inter’s jerseys, including the women’s and youth teams.

“The use of digital technologies is vital for all sports clubs, but our partnership aims higher. By leveraging Zytara’s digital-banking technology and blockchain, we can broaden our global reach to a younger, more tech-savvy audience,” said Inter CEO Alessandro Antonello.

In the wake of the news, the XDB token rose by almost 14%, from around $0.26 to $0.30.

As a reminder, on Milan’s sleeves, Inter’s rival, the BitMEX logo will appear.