Crypto’s popularity among kids drove X Games-MoonPay deal: ‘New energy and new transformation’
The X Games' partnership with MoonPay was driven by the shared popularity of both brands among younger audiences and a desire to evolve the X Games brand.Summary
The X Games' new partnership with crypto payments firm MoonPay, sponsoring a year-round team-based league, was fueled by the shared demographic of younger audiences. X Games CEO Jeremy Bloom emphasized that the 'new generation is shaping everything, including financial services, the blockchain, crypto.' This collaboration represents a shift for the X Games, aiming to modernize the brand and build it for the future alongside Gen Z. The deal, worth eight figures, goes beyond traditional sponsorship, allowing MoonPay to promote other crypto partners and potentially acquire teams within the league. MoonPay views the partnership as an opportunity to deepen its reach within action sports and capitalize on the rising economics of emerging sports leagues. The X Games League will initially feature teams from Los Angeles, New York, Tokyo, and São Paulo, competing in skateboarding, BMX, and Moto X.
(Source：The Block)