The Dallas Cowboys has become the first American National Football League (NFL) team to be sponsored by a cryptocurrency firm.
The announcement is the first since the league granted permission for teams to partner with crypto-related companies last month, reported ESPN.
The Dallas Cowboys are the first team to take advantage of the NFL’s green light. The professional football team has joined forces with Blockchain.com, however, the duration of the partnership has not been disclosed.
“When you have a chance to really delve into the kind of future that you have in the digital world, I wanted the Dallas Cowboys to be a part of that future in any and every way we could,” said Jerry Jones, Dallas Cowboy’s owner.
Blockchain.com is one of the fastest-growing crypto firms. Following its latest funding round, the company is now valued at $14 billion.
Last month, the financial service provider moved from New York to Miami and announced plans to create 300 jobs.
“Over the course of our long-term partnership, our goal is to partner with the Dallas Cowboys on helping the world to understand cryptocurrency,” said Peter Smith, Blockchain.com CEO, and co-founder.
Sponsorship a booming business
Sports sponsorship by crypto businesses is expected to reach the $5 billion mark by 2026, according to analytics firm Nielsen Sports.
The decentralized open-source blockchain, Tezos, signed a $27 million per year deal with the English Premier League club Manchester United to be featured on the club’s warmup jersey.
And rivals Manchester City announced a sponsorship deal with OKX, which will add branding to both the Etihad and Academy stadiums.
The EPL itself is exploring deals to follow in the footsteps of other major football leagues in Europe.
In Formula One, Tezos is also sponsoring McLaren and is the official blockchain partner of the Red Bull racing team.
Bybit and Red Bull Racing have a three-year deal, and the Fantom blockchain is sponsoring the Scuderia AlphaTauri team. Formula One itself is sponsored by Crypto.com.
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