Football and Blockchain Sponsorships

Event details

This CBiS event will discuss the growing trend of cryptocurrency companies sponsoring sport, with a focus on Crypto.com and the 2022 FIFA Men's World Cup.

Abstract

This research investigates the extent to which sponsorships can be utilised to foster trust and reduce barriers to adopting new technologies. Using Crypto.com's sponsorship of the 2022 FIFA World Cup as the context, this mixed-methods study utilises innovation resistance theory (IRT) and trust transfer theory (TTT) to investigate the extent to which such a sponsorship can increase trust and reduce barriers in innovative technologies such as cryptoassets, while also filling a research gap concerning consumer resistance to innovations in digital financial products and services.

The findings of study 1, using a survey (n = 1081), and study 2 using interviews (n = 24) reveal that a positive image of sponsorship significantly influences favourability and interest, and trust of the product of the sponsor which subsequently reduces psychological barriers to adoption. Integrating the theoretical viewpoints of IRT and TTT, this study enhances our conceptual understanding regarding the psychological dimension of sponsorship and the extent to which a sponsorship generates interest, giving assurance and trust in the sponsor's product, and removing uncertainty; thus, reducing barriers to adoption.

Biographies

Dr Tom Bason
Tom Bason is an Assistant Professor (Research) within CBiS. His research focuses around the intersection of sport and society. This involves both the ways in which sport can be utilised to benefit society, but also the use of sport as a tool for legitimisation. His previous research has focused on sport-based CSR initiatives by non-sport companies, and the impacts and legacies of hosting sport events. He is currently working on a project examining the nascent relationship between sport and blockchain companies, including sponsorships, direct selling of cryptoassets to sport fans and equity investments.

Dr Mujahid Mohiuddin Babu
Mujahid is an Assistant Professor (Research) in CBiS, Coventry University, UK.  His research interest broadly lies in the areas of Adoption/ Implication of Behavioral Technology, Changes at individual and society levels, Strategic Marketing, Data-driven decision making and behavior, Dynamic capability and Sustainable development in both private and public sector. Through his research works he has gained expertise and experience in Mixed method as his works applied both qualitative and quantitative research. His research works have been presented and published in various leading Journals (ABS 4 and 3*). For more details of his research please visit the Pureportal page.

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