The details of the deal have not been fleshed out in full, but they will involve mutual boost of awareness for each other's brand and possibly involve all social media channels of both organisations.
According to Bybit CEO Ben Zhou, the company is attempting to reach a global audience, which could be facilitated by Borussia Dortmund's sizeable fan base around the world.
Bybit's logo and slogan will be visible during Dortmund's game against Bayern Munich, giving it a potentially huge exposure to a global audience, Zhou added.
Bybit is not the first company to have struck this type of deal, with more sports teams signing up partnerships and teaming up with blockchain companies.
Blockchain solutions have been adopted en masse in football in Latin America and the United Kingdom. Apollon FC even allowed fans to vote on the team's line-up and players in a friendly game against Aris Limassol.
Turkish football club Trabzonspor also launched the $TRA tokens, bringing fans closer with the club and opening up a new revenue channel for itself.
Blockchain companies, such as Sportsbet.io and Cloudbet, have shown great interest in football clubs, citing the sport's exposure and significant fan base. Sportsbet.io, for example, has offered to sponsor Arsenal as an official sports betting partner.
Some clubs have been quitting blockchain partnerships, though, with Aston Villa bidding goodbye to W88 in the 2019/2020 season.
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