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Luno deal: Bitcoin performance bonuses for rugby team
South Africa’s leading crypto app, Luno, has partnered with the Vodacom Bulls in a three-year sponsorship deal. In a first for rugby in this country, the partnership includes cryptocurrency performance incentives for the team.
As the first team sponsorship by a crypto company in South Africa, the Vodacom Bulls are being backed by a homegrown company. The Luno logo is strategically placed at the top of the positional numbers on the back of the players’ rugby jerseys.
Luno was founded in 2013 by two South Africans. Today, the company has more than 1 000 employees and operates in over 40 countries.
Christo de Wit, Luno’s country manager for South Africa, said: “Luno is focused on empowering people by building a new financial system which is more suited to the digital age. Like rugby, crypto can be unpredictable and volatile at times, but it is important to zoom out, stick to your game plan and think long term.”
Vodacom Bulls chief executive Edgar Rathbone said the Luno partnership aligns with the team’s ambition to be the leading digital-savvy brand in South African rugby.
“Luno has an intrinsic understanding of what it means to have a competitive edge. As a trusted brand in the crypto financial industry, we are thrilled that Luno has decided to partner with the Vodacom Bulls. We are a sporting brand that is continuously exploring smart ways to evolve and innovate to modernise rugby. Partnerships with global brands are exciting as they also acknowledge the loyalty of our devoted support base.
There are an estimated 300 million people using crypto worldwide as of March 2022 – a figure that is expected to grow as global markets gain better access to the crypto ecosystem. South Africa is one of Luno’s strongest and most active markets.
“Our vision is to put the power of crypto in everyone’s hands by making it safe and easy to buy, store and learn about crypto. Customers can buy crypto for as little as R10. We encourage people to start small using a credible platform and learn about crypto on our free learning portal,” said De Wit.
Since its founding in 2013, Luno has become a leader in responsible crypto education and investment, introducing over 10 million people to crypto in more than 40 countries across the United States, Europe, Africa, Asia and Australia. It is part of the Digital Currency Group, the world’s largest blockchain investor, with over $40 billion in crypto under management.
