The National Basketball Association (NBA) has struck its first cryptocurrency sponsorship deal with the famous crypto exchange Coinbase aiming to increase its presence in the crypto sphere ahead of its 75th anniversary.
With this multi-year tie-up, Coinbase, which is traded on the Nasdaq and was up 3.5% on Wednesday afternoon, can get exposure on all NBA platforms, including the WarnerMedia property Turner Sports, NBA G League, NBA 2K League, and USA Basketball.
Coinbase Chief Marketing Officer Kate Rouch said in a statement:
“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,”
Coinbase, which has a $64 billion market cap, will soon launch its own NFT marketplace, with more than two million users on its waitlist.
