Lionel Messi’s Inter Miami refuses to give up the XBTO

26.01.2024

Inter Miami soccer club is looking for sponsorship money in calmer seas.

The team, which includes captain Lionel Messi, will start the 2024 season wearing jerseys bearing the logo of Royal Caribbean Cruises rather than cryptocurrency investment company XBTO, according to a statement. Financial details were not disclosed.

Since FTX shook up the industry in 2022, cryptocurrency firms have become increasingly rare in sports sponsorships. XBTO signed a multi-year partnership with the team in 2021 that ended just three years later. XBTO did not immediately respond to Fortune’s request for comment.

Meanwhile, the cruise industry, with its decidedly less controversial branding, is booming. Thanks to last year’s post-pandemic travel revival, cruise lines such as Royal Caribbean (112%), Carnival (130%), and Norwegian (64%) all rose significantly in value before pulling back in early 2024.

The Miami-based soccer team’s deal with Royal Caribbean underscores how the sports world is increasingly moving away from cryptocurrencies and back to safer and more traditional industries.