Coinbase is now the official crypto platform for the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA), according to an announcement made yesterday.
Coinbase is now the official partner of the NBA
According to the announcement, the deal aims to increase awareness of the blockchain and also contribute to the growth of the crypto-economy. Thus, the Coinbase logo and its branding would appear during the televised matches of the two leagues and the crypto exchange would also be a partner of the NBA G League, the NBA 2k League and USA Basketball.
The deal, which marks the first cryptocurrency platform partnership for each league, will consist of unique content, innovations, activations and experiences from Coinbase to educate fans on the growing progress taking place in the crypto-economy, “part of the press release read.
Speaking on the partnership, Kate Rouch, Chief Marketing Officer of Coinbase, said that “the freedom to participate and benefit from the things you believe in is at the heart of Coinbase’s mission. No one believes it more than NBA and WNBA fans. We are proud to become the league’s official cryptocurrency partner. “
Rouch continued that “as part of the partnership, we will create interactive experiences to engage with the amazing community and NBA and WNBA athletes around the world.”
On the other hand, senior NBA executive Kerry Tatlock described Coinbase as a “natural fit” for the league while adding that they “are eager to work with Coinbase to provide fans with new ways to go. engage with the league and with each other, while improving the experience for fans who are already Coinbase users.
Sport and crypto partnerships are multiplying
As NBA teams like Miami Heat have signed various crypto-related sponsored deals, it would be the first time the leagues (NBA and WNBA) have partnered with a crypto-related platform.
According to CNBC, “Sports leagues embraced cryptocurrency sponsorships this year because they are helping a V-shaped recovery for leagues from pandemic losses. Teams from the NBA, Formula 1, Major League Baseball, and even the New York-based Drone Racing League have landed crypto sponsorships. Platform Algorand will pay DRL $ 100 million over five years, and last June F1 also struck a $ 100 million deal with Crypto.com.
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