The National Basketball Association (NBA) has announced its multi-year sponsorship deal with Coinbase. The deal starts from the 2021/22 season. Coinbase is a cryptocurrency platform that allows its users to trade Dogecoin, Ethereum, and Bitcoin.
This partnership is one of the efforts crypto is making to move into the world of professional sports. This inked deal means Coinbase’s logo will prominently feature during the league’s 75th anniversary season. The season will be nationally televised.
Coinbase is not the only crypto firm that has tapped into the sports industry. FTX was, in fact, the first crypto sponsor in professional sports. FTX’s signed a sponsorship deal with Major League Basketball back in June. Additionally, FTX signed a $135 million deal for the naming rights on FTX Arena, formerly known as Miami Heat’s stadium.
The Los Angeles Lakers also recently announced a partnership with Socios. Socios is a blockchain-based token platform. Out of the partnership, Lakers’ fans get to enjoy virtual events courtesy of Socios. Socios has also collaborated with big football teams such as PSG, Milan, Barcelona, and Juventus.
The NBA-Coinbase Partnership
This partnership is history in the making for NBA since Coinbase will be its first-ever exclusive crypto partner. The NaOut of the partnership, a couple of things are expected from the North American basketball league.
The senior vice president of NBA’s marketing partnerships and media, Kerry Tatlock, felt confident in their first crypto partner. Tatlock shared that the crypto platform used by millions is a natural fit as their first partner, and NBA is excited about the collaboration.
NBA will be required to feature Coinbase’s branding during live broadcasts. Coinbase will be the presenting partner for the USA Basketball women’s and men’s exhibition tours. Additionally, the crypto platform will be presenting partner for the WNBA Commission’s Cup.
All in all, the partnership will have Coinbase as the exclusive crypto platform of the USA Basketball, NBA G League, NBA 2K League, and the Women’s National Basketball Association (WNBA). This partnership Is the first of this kind for all the leagues.
More on the NBA
This sponsorship deal is one of the many NBA has managed to snatch up for itself. One such deal is the one with Tab, a betting company. The sponsorship deal with Tab is also a multi-year deal with Tab as NBA’s official wagering partner in Australia.
NBA also has a multi-year deal with Tabcorp, Tab’s parent company. This deal that was signed in 2019 saw the coverage of NBA touchpoints and live games in the betting company’s locations. The agreement also included the featuring of Tab branding and content on NBA’s digital channels.
NBA has also announced having a multi-year extension to its sponsorship deal with the car manufacturer, Kia. Kia has been NBA’s partner officially for 15 years. Consequentially, Kia will be the sponsor of NBA G League’s end-of-season awards.
Kia will also be the title partner for the NBA’s ALL-NBA team on top of being the official partner of the NBA Summer League. The car manufacturer will also become WNBA’s title partner for the league’s monthly and end-of-season awards.