Coinbase, one of the top cryptocurrencies in the United States has signed a multi-year partnership deal with the National Basketball Association, making them the official cryptocurrency platform partner of the association.
Coinbase is the first cryptocurrency platform the association will partner with and according to the announcement, the deal will consist of unique content, innovations, activations and experiences from Coinbase to educate fans on the increasing advancements happening across the crypto-economy.
The announcement stated, “Beginning with tonight’s tip off of the NBA’s 75th Anniversary season, Coinbase will have a brand presence featured during nationally televised games. The company will also become the presenting partner of the WNBA Commissioner’s Cup and the USA Basketball men’s and women’s national team exhibition tours, as well as a partner of NBA G League Ignite.”
What they are saying
Coinbase Chief Marketing Officer, Kate Rouch, according to the announcement stated, “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. We’re proud to become the Leagues’ official cryptocurrency partner. As part of the partnership, we will create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes around the world.”
Kerry Tatlock, Senior Vice President, Global Marketing Partnerships and Media of the NBA stated, “As a trusted cryptocurrency platform used by millions, Coinbase is a natural fit as the NBA’s first-ever partner in this thriving category. We look forward to collaborating with Coinbase to provide fans with new ways to engage with the league and each other, while also enhancing the experience for fans who are already Coinbase users.”
Phil Cook, WNBA Chief Marketing Officer stated, “Our partnership with Coinbase is representative of the WNBA’s emphasis on innovation as we continue to find opportunities to meet our fans where they are. As we build off the success of the WNBA’s first 25 seasons, innovating alongside Coinbase will help us explore the future of fan engagement.”
In case you missed it
This is not the first partnership announced by Coinbase this month, as the platform announced a partnership with UnitedMasters, an American music distributor, to offer their artists the choice to receive crypto payments for the music they create.
Coinbase looks to be expanding its brand and presence around the United States as competition among cryptocurrency exchanges intensify. Coinbase had earlier announced that it would be looking to get into the futures market to compete with the likes of FTX US, who just acquired LedgerX, one of the few cryptocurrency companies that have the license to offer this service.
Asides from this, Coinbase has also announced the forthcoming launch of its NFT marketplace where the platform has over a million signups for early access.
COIN trades $305.63, up 4.19% for the day, as of the time of this writing.