The NBA has succeeded in entering into a sponsorship agreement with the cryptocurrency exchange forum Coinbase. Through this agreement, Coinbase shall acquire USA Basketball, NBA G League, and WNBA brand recognition. It seems that Bitcoin shall be on the sidelines, given that Coinbase’s priorities lie with cryptocurrency and marketing. According to CNBC reports, the sponsorship agreement between Coinbase and the National Basketball Association marks the 75th anniversary of the NBA. The agreement has made Coinbase the exclusive crypto partner of the NBA.
The exchange forum’s mission is to boost the cryptocurrency economy by increasing awareness about blockchain technology. Through the strategic partnership, the NBA shall provide Coinbase with the necessary exposure through the tip-off games to be held on Thursday at WarnerMedia property of Turner Sports. Coinbase will also be the presenting partner of the USA Basketball women’s and men’s national team exhibition tours and WNBA Commissioner’s Cup.
Coinbase will be able to make the most of the leverage obtained from all the platforms of the NBA, including USA Basketball, NBA 2K League, NBA G League, and the WNBA. The NBA exposure will help Coinbase spread awareness about the differences between Bitcoin and other cryptocurrencies. Bitcoin is the leader of the crypto industry, but it is starkly different from crypto assets. Besides, it is Bitcoin’s goal to establish a novel economy, whereas it is the mission of the crypto system to improve the existing financial system.
The different NBA clubs have already leveraged several significant crypto deals that include the arena naming rights for Miami Heat and jersey patch decision-making rights for the Portland Trail Blazers. NBA executive Kerry Tatlock declared that Coinbase is perfectly suited for the cryptocurrency assets of the NBA League.