NBA Signs Coinbase as Exclusive Cryptocurrency Sponsor
October 19, 2021
Coinbase has signed a multi-year deal 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 during nationally-televised NBA broadcasts, starting with tonight’s tip-off games on TNT. The company has also been named presenting partner of the WNBA Commissioner’s Cup and USA Basketball men’s and women’s exhibition tours, as well as with the G League Ignite — a team that consists mostly of top high school basketball recruits.
“As a trusted cryptocurrency platform used by millions, Coinbase is a natural fit as the NBA’s first-ever partner in this thriving category,” Kerry Tatlock, the NBA’s SVP of global marketing partnerships and Media, said in a statement. “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 Coinbase users.”
Coinbase, which lets users buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, was founded in 2012 and went public on the Nasdaq in April. The Wall Street Journal reported last week that Coinbase has asked Congress to create a new regulator to oversee crypto assets in the U.S., rather than handing that responsibility to the Securities and Exchange Commission.
While Coinbase is the NBA’s first cryptocurrency sponsor, several teams have already partnered with crypto firms. Cryptocurrency exchange FTX, which also sponsors MLB, bought naming rights to the Miami Heat’s arena in April. Crypto rewards app StockX is the jersey patch partner of the Portland Trail Blazers, while the Philadelphia 76ers made Crypto.com their jersey patch sponsor last month.