Coinbase entered into a sports sponsorship deal with another National Basketball Association (NBA) team. The crypto exchange disclosed on Friday a new partnership with the Los Angeles (LA) Clippers.
According to the exchange, this multi-year collaboration encompasses brand visibility and exclusive perks for fans. Fans can reportedly earn $5 in Bitcoin by signing up for a Coinbase account and other season-long benefits.
In-game Advertising
Coinbase’s branding will reportedly appear on the Intuit Dome through in-arena signage. As part of the sponsorship deal, the crypto exchange also committed to educating fans about digital assets, Decrypt reported.
Previously, the LA Clippers shared Crypto.com Arena with the Lakers and Sparks, reportedly to engage with the digital economy. As the team inaugurated its Intuit Dome arena in California, it now seeks to blend sports and technology.
Hey Clipper Nation.It's official. pic.twitter.com/Yj9Tnh0LKH
— Coinbase ????️ (@coinbase) November 22, 2024
Besides the logos and in-game advertising, the partnership includes merchandise and digital collectibles offering tangible and virtual tokens, while crypto rewards add a financial twist to fandom. These initiatives aim to provide fans with new ways to connect with their team. Coinbase has been expanding its influence in the NBA, already sponsoring the Golden State Warriors and the league itself.
Other Recent Sports Sponsorship Agreements
Last month, Coinbase was nominated as the official partner of the Canadian Football League and the 111th Grey Cup. The partnership allowed Coinbase to sponsor the 111th Grey Cup and the coin toss during the November event in Vancouver.
The sports sponsorship deal reportedly focused on the growing adoption of digital assets in Canada, where an estimated five million people, about 13% of the population, are reportedly involved in the sector.
Elsewhere, Coinbase boosted the scope of its existing partnership with German football club Borussia Dortmund for the 2024–2025 season in August. The agreement was signed in July to take place for the next three years. The exchange and the football club also expanded their collaboration geographically to include Europe and Singapore. SPORTFIVE reportedly facilitated the Initial agreement.
This article was written by Jared Kirui at www.financemagnates.com.
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