Crypto sponsor misses out on Champions League final due to failed payment
Regardless of what happens in this weekend’s Champions League final , it looks like a case of ‘what could have been’ for open-source blockchain DigitalBits , which will miss out on the chance to have its logo seen by a global audience of up to 400 million after it failed to keep up payments to Italian club Inter Milan. Inter inked an €85 million ($100 million) sponsor ship deal with DigitalBits developer Zytara Labs in September 2021 that made DigitalBits its sleeve sponsor . This was subsequently upgraded to the team’s main shirt sponsor . However, waning revenues for the Netherlands-based firm — last August, it was reported that it had shed 98% of its value amid the market-wide downturn — have seen it unable to keep up with payments, and as of last October, it reportedly owed Inter somewhere in the region of €17 million (18.3 million). As a result, back in November last year, Inter announced at the club’s annual shareholders’ meeting that it would sever ...