Coinbase has struck a deal with the Golden State Warriors NBA team, the latest sign that digital asset companies are taking a fresh look at U.S.-based sports marketing deals — and after much burnout, teams and leagues are seeking such deals. Due to FTX failure.
As part of the deal, the crypto exchange's branding will appear prominently on the Warriors' Chase Center and the team's limited-edition merchandise, Coinbase said in a statement this week. The shopping center will also run chain giveaways and game day activities for Warriors fans.
The deal reinforces Coinbase's multi-year partnership with the NBA, as US-based sports marketing deals have experienced a broader boom in the crypto industry.
“Our unique partnership with the Golden State Warriors provides easy and fun ways for fans to try,” Coinbase Chief Marketing Officer Kate Ruch said in a statement. “We are very excited to bring Dub Nation on the chain,” he said.
Coinbase did not disclose the official terms of the deal, including the price and duration. Neither Coinbase nor the fighters immediately responded to a request for a decryption.
This latest deal comes amid growing partnerships between crypto companies and American sports franchises. Year-to-date, crypto companies have created three times as many sports-related deals as they did in 2023, CoinGecko data shows.
Many sports marketing deals collapsed in 2022, shortly after digital asset exchange FTX collapsed, plunging the crypto market into a deep abyss. The Warriors were one of the teams that signed a $10 million deal with FTX that was announced in December 2021. Other teams and leagues were similarly under fire in the wake of the exchange's sudden shutdown and bankruptcy.
Edited by Andrew Hayward.
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