Rangers & Hibernian Crypto Partner Folds
Sportemon Go, an NFT cryptocurrency platform that sponsors Scottish Premiership clubs Rangers and Hibernian, has ceased trading.
The company, which was also endorsed by several Premier League players had its branding on the shirts of Rangers since last October, getting prominent billing in the club’s run to the Europa League semi-finals, while its logo has also been on Hibernian’s shirts this season.
The brand was also promoted across the social channels of Scotland captain Andy Robertson, Manchester United and England left-back Luke Shaw, and Chelsea youngster Callum Hudson-Odoi.
The NFT-augmented reality sports trading platform released a short statement via its social media channels, “The SGOX Token has ceased trading. The Team, Athletes and other (intellectual property) are currently being removed or deleted, as we finalise amicable termination agreements.
“The community voted unanimously to redeem SGOX for L1TF (Liberty One Treasury Fund, another form of cryptocurrency) tokens. Also note the Team, Athletes and other IP (intellectual property) are currently being removed or deleted, as we finalise amicable termination agreements.”
The Sportemon Go digital token (SGOX) initially saw a burst of activity in its few months after launching in 2021 before dropping in value in the autumn. Rangers, Robertson and Shaw all endorsed the company’s products on social media, and the token’s value surged, with nearly £480,000 being traded in one 24-hour period. The token has dropped significantly in value since, eventually flatlining in January.
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