Coinbase Global has inked a multiyear partnership with the National Basketball Association, the latest push by digital asset companies to break into the competitive world of professional sports.
The largest US crypto exchange agreed to be the exclusive cryptocurrency platform partner of the NBA, which also includes the Women’s National Basketball Association, NBA G League, NBA 2K League, and USA Basketball, according to an announcement Tuesday.
This partnership marks the first deal of this kind for each league.
Coinbase’s logo will be prominently featured during nationally televised games throughout the association’s 75th anniversary season. Coinbase also agreed to educate fans on the increasing advancements happening across the crypto ecosystem, as well as to promote unique content, innovations, and activations.
“Coinbase is a natural fit as the NBA’s first-ever partner in this thriving category,” said Kerry Tatlock, senior vice president of global marketing partnerships and media at NBA, said. “We look forward to collaborating with Coinbase to provide fans with new ways to engage with the league and each other.”
Coinbase joins the growing number of crypto firms looking to tap into the sports industry. For example, FTX earlier this year signed a $135 million deal for the naming rights on the Miami Heat’s stadium, which is now called FTX Arena. It also partnered with Major League Baseball in June to become the first crypto exchange sponsor in professional sports.
The partnership between Coinbase and the NBA comes as the crypto exchange, which was founded in 2012 and went public in 2021, launched its own NFT marketplace and partnered with Facebook’s digital wallet Novi.