Key Takeaways
- Coinbase will become the NBA’s official crypto platform through a new partnership and sponsorship deal.
- The partnership will also apply to NBA’s other leagues, including its women’s, minor, and e-sports leagues.
- Coinbase will produce content related to the NBA and gain a presence during televised games.
Share this article
The National Basketball Association has partnered with Coinbase according to a press release from the basketball group.
Partnership Will Involve Sponsorship Deal
The partnership, which will involve a sponsorship deal, will make Coinbase the official crypto platform of the NBA.
The deal will see Coinbase provide content and experiences related to the NBA. Coinbase will become a presenting partner for some NBA leagues, and it will gain a brand presence on TV basketball games.
The partnership will also apply to the NBA’s women’s league (WNBA), its minor league (G League), its e-sports league (NBA 2K) and its national men’s league (USA Basketball).
It is unclear whether this will translate into the ability for audiences to pay for tickets and merch with cryptocurrency.
Kerry Tatlock of the NBA called Coinbase a “trusted cryptocurrency platform used by millions” and “a natural fit as the NBA’s first-ever partner in this thriving category.”
Coinbase is currently the second-largest exchange by trading volume, with $4 billion traded in the last 24 hours.
Some NBA Teams Already Use Crypto
At least two NBA teams have independently embraced cryptocurrency prior to today’s news. The Dallas Mavericks, under Mark Cuban, is famous for accepting cryptocurrency including Dogecoin as payment for tickets and merchandise.
The Sacramento Kings, meanwhile, began to offer players their salary in Bitcoin this year; it has also mined Ethereum in the past.
This March, team owners formed an advisory group in order to find new ways to integrate blockchain with the basketball league. It is unclear whether today’s news is related to that effort.
The NBA previously partnered with Dapper Labs on Top Shots, a line of NFT collectibles featuring highlights from various players.
Disclaimer: At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.
Share this article
Major League Baseball Has Adopted FTX As Official Crypto Partner
Major League Baseball has just announced its partnership with FTX, the first-ever sponsorship of a professional sports league by a crypto brand. The Biggest Sports Partnership in Crypto The partnership…
What is Rarible: A DAO for NFTs
What was once dismissed as a silly and expensive sector, NFTs give creators access to global markets in a way that’s never been possible before, and it’s all thanks to blockchain.Those familiar…
Mark Cuban’s Dallas Mavericks Will Accept Dogecoin
NBA pro basketball team The Dallas Mavericks will soon accept Dogecoin as payment, according to DealBook. Jumping on the Doge-Wagon Shark Tank investor Mark Cuban, who in January jumped on…
Coinbase NFT Marketplace Waitlist Soars Past 1.5 Million
Coinbase is following other major players into the NFT fray, including FTX U.S., Crypto.com, and Visa. Consumer interest has exploded, with over 1.5 million signing up for the waitlist in…