OKB (OKB), the native token of the OKEX exchange, has seen a decent surge in price after the platform announced a sponsorship deal with English football champions Manchester City. The deal, which is said to be worth millions of dollars, is expected to last several years. Here is what we know:
OKEX promotional materials will appear on men and women Man City teams.
OKB surged shortly after the news but has lost some of those gains.
The coin was trading at around $17.59 at press time.
Data Source: Tradingview.com
OKB (OKB) – What does the Manchester City deal mean
Over the last few months, global crypto exchanges have been stepping up their partnership with sports entities. Crypto.com made headlines with a slew of partnerships with major US franchises, and Coinbase was the first exchange to air an ad during the Superbowl.
OKEX is also following the same moves in a bid to bring in more users to the platform. This can only be good news for the OKB token. However, despite the small surge in response to this news, we still expect OKB to remain very volatile.
In fact, even after surging shortly after the news, OKB fell sharply once more and was trading at $17.59. But the deal with Manchester City is a big deal. It will bring a lot of visibility and brand recognition for OKX.
Should you buy OKB?
Well, exchange tokens are often not the most popular investment option for crypto investors. But in case you are looking for a token that offers real utility, then OKB is a great option.
Besides, OKEX is now one of the biggest exchanges in the world. As the platform continues to get strong visibility with deals like the Man City one, OKB will grow further. Therefore, it is something truly worth buying, especially right now that it has dipped significantly.