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Inter Milan to accept cryptocurrency for ticket purchases

Inter Milan fans will be able to pay for home game tickets on the club’s app using cryptocurrency after the Italian Serie A football team announced a new deal with Zytara Labs. 

By joining forces, Zytara Labs will become Inter’s digital banking partner, with support from the company’s DigitalBits Foundation. 

The €85m (£73m/$100m) deal will also see Zytara’s DigitalBits (XBD cryptocurrency) act as the official global cryptocurrency partner for Inter. 

Together, Inter Milan and Zytara will develop the club’s app which will see fans able to buy tickets using the DigitalBits cryptocurrency. Consumers will also be able to log into their Zytara account from within the Inter app and enable access to crypto-based products. The app will become the primary way in which fans can buy tickets for home games at the San Siro. 

Alessandro Antonello, Inter’s corporate chief executive, said: “We are proud to welcome Zytara as our new global partner and for Inter to officially join the DigitalBits ecosystem, who will also become our new sleeve sponsor. 

“This agreement reflects Inter’s commitment to set the global standard for technological excellence. While digital-first experiences are vital for all sport clubs, our partnership aims higher. By leveraging Zytara digital banking and blockchain technology we will be able to enhance our global reach towards younger and digital savvy audiences.” 

Inter will also use the DigitalBits blockchain to accept the XDB cryptocurrency for payments within the stadium and for Inter’s online and physical stores. Ticket holders will also benefit from this move as the blockchain will create digital player cards and other collectibles such as non-fungible tokens (NFTs). 

Al Burgio, founder of Zytara and the DigitalBits blockchain, said: “This partnership with Inter, much like their heritage, is focused on excellence. Our collaboration will position Inter as one of the most technologically advanced and forward-thinking clubs in the world. 

“We’re thrilled to partner with the reigning Italian champions and a club with such a rich history.” 

Inter is not the first European club to begin accepting cryptocurrency to pay for tickets, with Portuguese Primeira Liga outfit Benfica adopting the process in 2019.

Image: elimirana on Unsplash