Coinbase supports another NBA team with the LA Clippers deal

Coinbase has announced that it is now an official partner of the Los Angeles Clippers in a sponsorship deal that will see the cryptocurrency exchange focus on fan engagement and branding at the NBA team's new $2 billion venue, the Intuit Dome.

The agreement marks a multi-year partnership between both parties that will provide fans with exclusive experiences, limited edition products and exclusive digital and physical collections. Financial details of the partnership were not disclosed.

“Coinbase is pursuing this partnership to educate and engage Clippers fans about blockchain technology and cryptography,” a Coinbase representative told Decrypt. “The goal is to provide a fun and safe way for fans to explore the transformative potential of these technologies and drive mainstream adoption.”

In an effort to educate and engage Clippers fans, Coinbase offers new and existing users $5 in Bitcoin (BTC), along with season-long benefits, to create a Coinbase account.

Coinbase branding will be prevalent on the in-arena signage at the Intuit Dome, the new arena the Clippers are calling home for the first time this year.

Adjacent to the Clippers is nothing new for the Clippers, who previously played their home games at Crypto.com Arena, sharing the venue with the Los Angeles Lakers and the WNBA's Los Angeles Sparks.

Coinbase maintains sponsorship deals with the NBA and WNBA and has recently demonstrated alliances with other major sports leagues, including a deal with the Canadian Soccer League earlier this year and reaffirming its deal with Bundesliga club Borussia Dortmund. The exchange is a sponsor of the NBA's Golden State Warriors, as announced in October.

The company's interest in color sponsorships reflects a broader trend in crypto and sports brand deals. The amount of new crypto sponsorship deals in major sports is on the rise this year, up more than 200% from 2023, according to a September report from CoinGecko.

Edited by Andrew Hayward.