Crypto.com is teaming up with the NBA’s Philadelphia 76ers, as the latest in its slew of sports team partnerships.
As part of the deal, Crypto.com will launch a non-fungible token (NFT) series for the team, while players will bear the company’s patch on their jerseys. The crypto platform will also give presentations at schools to educate fans on cryptocurrency.
“Crypto.com will be woven into the fabric of our identity, and together, we will change the landscape for how crypto is integrated in sports,” 76ers president of business operations Chris Heck said. Meanwhile, Crypto.com co-founder and CEO Kris Marszalek said the 76ers were “a perfect fit for our world-class roster of sports partners.”
Although this is Crypto.com’s first partnership within the NBA, the platform has sealed deals with a host of different teams across many sports. Back in March, Crypto.com announced its partnership with the NHL’s Montreal Canadiens. In July, the platform continued the streak, partnering with mixed-martial-arts league Ultimate Fighting Championship (UFC), to feature its logo on fighters’ kits.
Since August, the partnerships have kept rolling in, including with Italy’s Lega Serie A, Formula 1, soccer club Paris St. Germain, and esports team Fnatic. According to a Bloomberg source, Crypto.com’s partnerships with sports brands now total over $400 million.
However, Crypto.com is not the only crypto-based company that is coming to understand the importance of sports endorsements. For instance, cryptocurrency exchange FTX has also been making moves that will familiarize its brand to sports fans.
The company has signed American sports icons Tom Brady and Stephen Curry to become global brand ambassadors. Additionally, it owns the naming rights to the home stadiums of the NBA’s Miami Heat and the University of California’s football team. Earlier, FTX CEO Sam Bankman-Fried said that there are indications its sponsorships have been a “non-trivial piece” of how people became aware of FTX.
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