Coinbase Signs Sponsorship Deal With WNBA, NBA: Report

Coinbase signs sponsorship deal with NBA for multiple years and will see the exchange appear on televised games as we are reading more in today’s Coinbase news.

Coinbase announced a series of new deals with professional basketball teams and it declared that it will be an exclusive crypto platform partner for the WNBA and NBA as well as for the NBA Affiliate leagues and USA basketball. The company said the arrangement will be on display from tonight as the NBA season kicks off with the presence of the brand during nationally televised games. In a blog post, the US-based exchange announced that Coinbase signs a sponsorship deal with the NBA for multiple years and will involve content creation as well as a campaign that will aim to educate the fans about crypto. The NBA SVP of Global Marketing Partnerships and Media Kerry Tatlock said:

“As a trusted cryptocurrency platform used by millions, Coinbase is a natural fit as the NBA’s first-ever partner in this thriving category.”

 

Coinbase’s sponsorship deal came after a rival FTX exchange got into the field of sports marketing after it signed a deal with Major League Baseball that saw the FTX logo appear on the uniforms. FTX also signed an agreement to put the name of the arena of the NBA Miami Heat stadium which created an awkward situation when it came to televised basketball games in Miami. Sam Bankman Fried responded with a laugh when asked for overlapping sponsorships during the Miami Heat games but Coinbase didn’t comment on it.

The NBA is already active on the crypto front and its NFT programs like Topshot. The league’s NFT activities are not being backed by Dapper Labs and Flow Blockchain but it is still unknown whether this arrangement will remain in place or if Coinbase is launching an NFT platform of its own will look to exert control over the basketball-related NFTs. The NBA and WNBA are one part of the sponsorship. The Coinbase sponsorship will cover the NBA G League and NBA 2K league.

As recently reported, Coinbase proposes a different solution to the crypto market regulation and it amounts to wishful thinking given the state of Washington DC right now. Coinbase issued the proposal on Thursday for a new crypto regime that sees the US replace the handful of agencies that oversee the industry with a new single federal regulator. The call of a single regulator was one of the main reasons that the exchange company says should inform the government’s approach to crypto oversight that was set out in the document dubbed “digital Asset Policy Proposal.”