Coinbase signs exclusive partnership with NBA
Coinbase and the National Basketball Association (NBA) today announced a multi-year partnership that makes Coinbase the NBA's exclusive cryptocurrency platform partner,
Coinbase will have a brand presence during nationally televised games
The deal is not only a partnership with the NBA but also with the Women's National Basketball Association (WNBA), NBA G League, NBA 2K League, and USA Basketball. This is the first partnership with a cryptocurrency platform for each league. It will consist of unique content, innovations, activations, and experiences from Coinbase to educate fans on the growing advancements in the crypto industry.Beginning with tonight's tip-off of the NBA's 75th anniversary season, Coinbase will have a brand presence during nationally televised games. "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," said Phil Cook, WNBA Chief Marketing Officer. "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."
Crypto Exchanges are partnering with the sports industry
It's become more and more common for exchanges to seek a partnership in the sports industry. FTX US, for example, has a similar partnership with the MLB and also sponsors Mercedes-AMG's Formula 1 team, but it doesn't stop there as the exchange also got the rights to rename the Miami Heat's arena to FTX Arena in a $135 million deal approved in March. Also, Crypto.com has not been sitting still and is also a sponsor of a wide range of teams, including the NHL's Montreal Canadians, Fox Sports' college football midday coverage, UFC, and Aston Martin's Formula. This shows that competing to become the most used exchange goes much further than just having good customer service and user interface.Earlier, Coinbase announced that Facebook had selected the company as the custody partner for Novi. Novi is a new digital wallet that the social media giant says will allow users to convert local currencies into cryptocurrencies through a standalone app that users can connect to other Facebook products like Instagram. The cryptocurrency exchange also recently announced its NFT Marketplace, allowing users to trade NFTs on its platform.
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