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NBA signs Coinbase as exclusive cryptocurrency sponsor
Coinbase has signed a multi-year agreement to become the exclusive cryptocurrency platform partner of the NBA, WNBA, NBA G League, NBA 2K League and USA Basketball. Coinbase is the first crypto company to sign with the NBA.
Coinbase’s brand will appear on NBA TV shows nationwide, starting with tonight’s launch matches on TNT. The company was also named a presenting partner of the WNBA Commissioner’s Cup and the USA Basketball Men’s and Women’s Show Tours, as well as with the G League Ignite – a team made up mainly of the best high school basketball rookies.
“As a trusted cryptocurrency platform used by millions of people, Coinbase is a natural fit as the NBA’s very first partner in this thriving category,” said Kerry Tatlock, senior vice president of NBA global marketing and media partnerships, in a statement. “We look forward to working with Coinbase to provide fans with new ways to engage with the league and with each other, while improving the experience for fans who are already Coinbase users.”
Coinbase, which allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, was founded in 2012 and went public on Nasdaq in April. The Wall Street Journal reported last week that Coinbase had asked Congress to create a new regulator to oversee crypto assets in the United States, rather than handing that responsibility over to the Securities and Exchange Commission.
While Coinbase is the NBA’s premier cryptocurrency sponsor, several teams have already partnered with crypto companies. The FTX cryptocurrency exchange, which also MLB sponsors, purchased the naming rights to the Miami Heat Arena in April. The Crypto StockX rewards app is the jersey patch partner of the Portland Trail Blazers, while the Philadelphia 76ers made Crypto.com their jersey patch sponsor last month.