To understand how big Crypto has gotten just in a few small years we need only look at the latest sponsorship deal struck between the NBA and the cryptocurrency exchange Coinbase. The deal comes ahead of the NBA’s 75th anniversary, CNBC reported. With this agreement, Coinbase has become the exclusive cryptocurrency partner of the NBA.
“The tech firm wants to increase awareness around blockchain technology to grow the crypto economy. Hence, the NBA will provide the company exposure including in Tuesday’s regular-season tip-off games on WarnerMedia property Turner Sports. Coinbase will also get presenting partner rights for the WNBA Commissioner’s Cup and the USA Basketball men’s and women’s national team exhibition tours.” according to the CNBC report.
“In a statement, NBA executive Kerry Tatlock labeled Coinbase ‘a natural fit’ for the league’s cryptocurrency asset, NBA clubs have already leveraged crypto-related deals, including the Portland Trail Blazers’ jersey patch and Miami Heat arena naming rights.” we’d expect Coinbase to take full advantage of this marketing opportunity, and investors can expect to see market movement as this deal rolls out into visibility to the public.