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The deal comes as the NBA prepares to start its 2021â2022 season, marking the associationâs 75th anniversary.
Major cryptocurrency exchange Coinbase has inked a deal with the National Basketball Association, giving the platform the opportunity to educate basketball fans on crypto.
In a Tuesday announcement, Coinbase said it would become the exclusive cryptocurrency platform partner of the National Basketball Association, or NBA, Womenâs National Basketball Association, NBA G League, NBA 2K League and USA Basketball as part of a multiyear sponsorship deal. According to the NBA, Coinbase will create âunique content, innovations, activations and experiencesâ for basketball fans to learn about the crypto space, as well as be a partner of the WNBA Commissionerâs Cup, the USA Basketball menâs and womenâs national team exhibition tours and the NBA G League Ignite.
Coinbase chief marketing officer Kate Rouch said the partnership would involve âinteractive experiences to engage with the NBA and WNBAâs incredible community and athletes around the world.â The announcement comes as the NBA prepares to start its 2021â2022 season, marking the associationâs 75th anniversary.
Related: Fan tokens: Day trading your favorite sports team
According to data from Statista, an average of 1.6 million people watched NBA regular-season games across major networks during the 2019â2020 season. Coinbase said it would be featured during nationally televised NBA games.
Many crypto companies and platforms have formed partnerships with sports organizations across the globe as the space expands and seemingly becomes more profitable as a sponsor. Crypto derivatives exchange FTX announced it had become the official sponsor of Major League Baseball in June and previously struck a deal to name the Miami Heatâs home stadium the FTX Arena until 2040.
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