ICO CashBet, became a sponsor of the FC "Arsenal"

The company CashBet is trying to raise the value of its ICO by signing a sponsorship agreement with Arsenal - the top football club of the English Premier League. This week, the UK press reported the news that the football club Arsenal signed an agreement with a technological blockchain company. The company CashBet, which is preparing for the initial placement of coins (ICO), created to raise funds necessary for the company to develop "a unified mobile platform for real money, social and professional skills based on interactive games."

 It is noted that the football club will advertise the company under the terms of the sponsorship agreement. As for the specific details of sponsorship (and, indeed, what the promotion entails), everything is sufficiently unclear. In a recent article by The Guardian, three Arsenal players hold a T-shirt with CashBet advertising printed on the back, and the BBC report says that Arsenal will promote CashBet (in particular the future of ICO CashBet) in the club's home games.

This event for a wide cryptocurrency space and ICO space causes mixed feelings and can have different consequences. Of course, it is nice to see how the cryptocurrency attracts some attention, and in the case of CashBet there is no doubt that this sponsorship attracts a bit of increased speculative attention to this proposal. Although, actually, that's why the company sponsors the club.

 However, on the other side of the equation, the ICO space continues to be under a tight veil of fraud and it is incredibly difficult to determine the chances of success of the company that conducts the offer, especially for ordinary participants, based on the company's website and White Paper.

It seems that today the success of the ICO (and since we are talking about the ICO, then the achievement of the planned amount will be considered a success) it seems more depends on the budget allocated for advertising, and not on behalf of the company or the stage of work on the product for the development of which these funds are attracted.

Time will tell whether this step of Arsenal will help in achieving CashBet's success or not.

Of course, this is not the first time a football club attracts cryptocurrency sponsors. Jetcoin sponsored the Serie A football team, AC ChievoVerona as early as 2014, trying to improve its credibility in this sector. Jetcoin conducted its own ICO in mid-2017 and currently trades only 25% of the then-priced.

Previously, the former manager of such football clubs of the English Premier League as West Ham United, Portsmouth, Tottenham and Birmingham - Harry Redknapp, was seen in public support of the ICO.