Coinbase has partnered with the NBA, the Women’s National Basketball Association, NBA G League, NBA 2K League, and USA Basketball.
As the league prepares to begin its 75th season on Tuesday, the NBA agreed to its first multi-year, cryptocurrency sponsorship deal with the Nasdaq-listed cryptocurrency exchange Coinbase, a publicly-traded company that allows crypto transactions and collects money from fees.
The deal, which marks the first cryptocurrency platform partnership for each league, will consist of unique content, innovations, activations and experiences from Coinbase to educate fans on the increasing advancements happening across the crypto economy. Coinbase will have a brand presence featured during nationally televised games. The company will also become the presenting partner of the WNBA Commissioner’s Cup and the USA Basketball men’s and women’s national team exhibition tours, as well as a partner of NBA G League Ignite.
“The freedom to participate and benefit from the things you believe in is at the heart of Coinbase’s mission. Nobody believes this more than NBA and WNBA fans. We’re proud to become the Leagues’ official cryptocurrency partner,” said Kate Rouch, Chief Marketing Officer of Coinbase. “As part of the partnership, we will create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes around the world.”
“As a trusted cryptocurrency platform used by millions, Coinbase is a natural fit as the NBA’s first-ever partner in this thriving category,” said Kerry Tatlock, Senior Vice President, Global Marketing Partnerships and Media, NBA. “We look forward to collaborating with Coinbase to provide fans with new ways to engage with the league and each other, while also enhancing the experience for fans who are already project users.”
“Our partnership with Coinbase is representative of the WNBA’s emphasis on innovation as we continue to find opportunities to meet our fans where they are,” said Phil Cook, WNBA Chief Marketing Officer. “As we build off the success of the WNBA’s first 25 seasons, innovating alongside Coinbase will help us explore the future of fan engagement.”
NBA’s partnership with Coinbase is not it’s first foray into the crypto space. Popular NFT series such as NBA TopShot have captured the attention of and sold to audiences across the crypto world and beyond. NBA’s concurrent partnership with Dapper Labs and its operational side, the Flow blockchain, has proven that sports and crypto can integrate well. However, a potential impasse and conflict of interest may arise, given how Coinbase is also set to launch its own NFT platform. It remains to be seen whether NBA and its related organizations would retain their partnerships with Dapper Labs and Coinbase.