Coinbase announced last night that it has become an official sponsor of NBA teams.
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The Coinbase deal is the first crypto-related sponsorship for the NBA and gives the Coinbase brand access to the WNBA, NBA G League, NBA 2 K League and USA Basketball.
The terms of the deal have not yet been disclosed. In the last year that has been a massive surge in funding from the crypto industry focused on brand partnerships.
One of the most aggressive crypto companies has been FTX exchange. Over the course of a year, FTX has formed partnerships with the Mercedes-Benz F1 Team, Steph Curry, the MLB and the Miami Heat.
FTX's partnership with the Heat saw the renaming of the team's arena to FTX Arena so far.
The sponsorship deal between Coinbase and the NBA represents a constant pursuit by the crypto industry in its marketing.
The chief marketing officer of Coinbase, Kate Rouch, said the company was happy to be a Leagues official cryptocurrency partner and asked that they would begin making interactive ways for fans to engage with the NBA and other leagues.
The freedom to participate and benefit from the things you believe in is at the heart of Coinbase s mission. Nobody believes this more than NBA and WNBA fans. Rouch is proud to be partners in Leagues coincash application.
As part of the partnership, we will create interactive experiences to engage with the NBA and WNBA's amazing community and athletes around the world.