The National Basketball Association has signed a contract with Coinbase, offering the platform the option to educate basketball fans about cryptocurrency. The deal comes as the NBA prepares to celebrate its 75th anniversary.
Coinbase announced on Tuesday that it would become the National Basketball Association, or NBA, Women’s National Basketball Association, NBA G League, NBA 2K League, and USA Basketball’s exclusive bitcoin platform partner as part of a multiyear sponsorship contract.
Coinbase will be a partner of the WNBA Commissioner’s Cup, the USA Basketball men’s and women’s national team exhibition tours, and the NBA G League Ignite, according to the NBA, and will create “unique content, innovations, activations, and experiences” for basketball fans to learn about the crypto space.
The relationship will include “interactive opportunities to engage with the NBA and WNBA’s tremendous community and athletes throughout the world,” according to Coinbase chief marketing officer Kate Rouch. The announcement comes as the NBA prepares to kick off its 75th season in 2021–2022.
1.6 million people watched NBA regular-season games across major networks on average during the 2019–2020 season, according to Statista. Coinbase announced that it would be featured on national television during NBA games.
As the crypto space grows and appears to become more profitable as a sponsor, many crypto companies and platforms have formed agreements with sports groups all around the world.
In June, the crypto derivatives exchange FTX announced that it has signed an agreement to call the Miami Heat’s home stadium FTX Arena until 2040, making it the official sponsor of Major League Baseball.
