The National Basketball Association has introduced a multi-year deal with Coinbase, America’s largest crypto trading platform in an Oct. 19 press release.
Coinbase will act because the unique companion of the NBA, NBA G League, Women’s National Basketball Association (WNBA), and other leagues.
As a part of the deal, the exchange will have a brand presence during televised games in addition to distinctive content and activations that are meant to boost crypto awareness.
Kate Rouch, Coinbase’s chief marketing officer, says that the company is proud of joining forces with the NBA:
The freedom to take part and benefit from the stuff you believe in is on the heart of Coinbase’s mission. No one believes this more than NBA and WNBA followers. We’re proud to become the Leagues’ official cryptocurrency partner.
The shares of Coinbase are up roughly 3% at press time.
The partnership between the NBA and Coinbase could probably lead to more stadiums accepting cryptocurrency as a form of payment.
In 2014, the Sacramento Kings grew to become the primary NBA crew to accept Bitcoin, the world’s most popular cryptocurrency, as a form of payment in their stadium. In April of this year, the crew introduced that they might provide Bitcoin as a payment option to players and staff members.
“I will offer everybody in the Kings organization. as much of their salary in bitcoin as they want,” Kings’ chairman Vivek Ranadivé mentioned in April, in response to CoinDesk.
Along with the Kings, the Dallas Mavericks announced in 2019 that they are going to be accepting Bitcoin as a form of payment contained in the team’s stadium using BitPay, the biggest Bitcoin payment processor in the world.
In March of this year, the Mavericks introduced that they have been additionally accepting Dogecoin for team merchandise and ticket purchases.
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one essential, earth-shattering reason, because we can! As a result of we can, we’ve chosen to take action,” Mavericks’ Proprietor Mark Cuban said in a press release.
A few days after the announcement, Cuban tweeted that the team became the “largest” Dogecoin service provider in the world.
“The @dallasmavs have accomplished more than 20,000 #Dogecoin in transactions,” Cuban wrote.