NBA has agreed to a sponsorship deal with cryptocurrency exchange Coinbase, which will become the league's exclusive crypto partner. Coinbase will get WNBA, NBA G League, and USA Basketball branding, but the deal's terms were not provided.
The National Basketball Association has agreed to a sponsorship deal with Bitcoin and cryptocurrency exchange Coinbase ahead of its 75th anniversary, CNBC reported. With the agreement, the exchange has become the exclusive cryptocurrency partner of the NBA.
“The tech firm wants to increase awareness around blockchain technology to grow the crypto economy," CNBC reported. "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.”
In a statement, NBA executive Kerry Tatlock labeled Coinbase 'a natural fit' for the league's cryptocurrency asset, according to the report. NBA clubs have already leveraged crypto-related deals, including the Portland Trail Blazers' jersey patch and Miami Heat arena naming rights.
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