Crypto.com Signs Its First NBA Deal

  • The deal will see Crypto.com become the official jersey patch partner of the Philadelphia 76ers, and its logo will be present on the team’s jerseys.
  • As part of the deal, the NBA team will release its first-ever NFTs on the Crypto.com NFT marketplace.
Scoring the winning points at a basketball game

Shutterstock

Popular crypto exchange Crypto.com has once again struck a deal, this time the with the NBA’s Philadelphia 76ers, giving it more exposure to the sport’s world, the exchange said in a press release on 22 September.

According to the announcement, Crypto.com has become the official jersey patch partner of the Philadelphia 76ers, and its logo will now appear on all four versions of the team’s jersey during the upcoming NBA season. As part of the deal, the basketball team will launch its first-ever non-fungible tokens (NFTs) on the Crypto.com NFT marketplace for fans to purchase. The president of business operations for the 76ers, Chris Heck, said in a statement:

“We are thrilled to launch a long-term partnership with such a progressive team at Crypto.com, a company that shares our drive for greatness. 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. We will also leverage Crypto.com’s forward-thinking, global expertise to unveil our first-ever NFT program.”

While not much detail was revealed around the deal the partnership will be for six years, and Crypto.com has received some additional promotional rights, such as a spot on the courtside LED screens. Crypto.com will also have rights to the 76ers’ name and marks in marketing and advertising.

While not the first sports team partnership, this deal is the first Crypto.com has made with an NBA team. The exchange had previously become a sponsor for Aston Martin’s Formula One team, and had signed a multi-year partnership with the Italian Lega Serie A. Crypto.com has also betted on the rising popularity of e-sports, and has recently signed a partnership with London-based e-sports performance brand Fnatic.

Discussion
Related Coverage
Crypto.com Hits Regulatory Milestone in Korea After Two Acquisitions
  • Crypto.com secured an Electronic Financial Transaction Act registration by acquiring PnLink, and a VASP registration from buying OK-BIT.
  • While it remains unknown if the exchange can offer its full suite of services in the country, the VASP registration allows it to provide crypto exchange and custody services.
August 8, 2022, 11:21 AM
Kris Marszalek, Co-Founder and CEO at Crypto.com

Kris Marszalek, Co-Founder and CEO of Crypto.com, during RISE 2018 conference, Hong Kong, June 2018. Seb Daly/RISE via Sportsfile

GameStop Launches NFT Marketplace in Public Beta
  • GameStop has described its new platform as a “non-custodial, Ethereum Layer-2-based marketplace that enables parties to truly own their digital assets”.
  • The company said it plans to expand the NFT marketplace functionality over time, adding new categories such as web3 gaming, introducing more creators, and more.
Multiple Projects Migrate From Terra to Polygon
  • Among the 48 projects that have started migrating over from Terra are some high-profile names, such as OnePlanet, Lunaverse, and Derby Stars.
  • OnePlanet played a huge role in helping NFT projects, encompassing 90 NFT collections, migrate to Polygon through its Ark*One initiative.