When the National Basketball Association’s season starts next month, not one but two teams will be wearing crypto-related ad patches.
The Philadelphia 76ers announced Wednesday that Crypto.com’s logo will be emblazoned on all team uniforms. The Sixers join the Portland Trail Blazers, which inked a deal with crypto e-commerce site StormX earlier this year.
It’s just the latest major crypto brand activation in the world of sports, with Crypto.com, crypto exchange FTX (whose logo is, among other places, on uniforms of Major League Baseball umpires) and others making a land grab for sports fans everywhere.
The Sixers partnership with Crypto.com is for six years, an exchange representative told CoinDesk. The deal’s cost was not disclosed though a source with knowledge tells CoinDesk it is valued at eight figures annually.
Crypto.com has made a number of high-profile sports partnerships of late but this is its first with the NBA. Major partnerships for the crypto exchange include soccer club Paris Saint-Germain, car racing league Formula 1, and the National Hockey League’s Montreal Canadiens.
The Sixers deal also includes a non-fungible token (NFT) angle. The team is launching its first batch of digital collectibles through Crypto.com’s NFT platform.
“Crypto.com will be woven into the fabric of our identity, and together, we will change the landscape for how crypto is integrated in sports,” 76ers President of Business Operations Chris Heck said in a statement.