On Tuesday, it was announced that the NBA and Coinbase are teaming up for a multi-year partnership. The deal will make Coinbase the exclusive cryptocurrency platform partner of the National Basketball League (NBA). It opens the doors to possible cryptocurrency transactions being used in stadiums in the near future.
The partnership also extends to the Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League, and USA Basketball. The NBA press release says they anticipate this partnership will provide an opportunity to expose their fanbase to content, experiences and education related to cryptocurrency.
NBA Games to Feature Coinbase Brand
“Beginning with tonight’s tip-off of the NBA’s 75th Anniversary season, Coinbase will have a brand presence featured during nationally televised games,” the announcement said. “The company will also become the presenting partner of the WNBA Commissioner’s Cup and the USA Basketball men’s and women’s national team exhibition tours, as well as a partner of NBA G League Ignite.”
This is a big step into the cryptocurrency world for the basketball league but isn’t their first time dabbling into the crypto space. Earlier this year they partnered with Dapper Labs on NBA Top Shot non-fungible tokens on (NFT) mania.
Coinbase Tapping Into NBA Audience
Coinbase is hoping to expand its increasing reach into the NBA’s massive fanbase. Nearly 40 million people follow the NBA on Facebook and live NBA games garner roughly 1.2 million views a game.
“The freedom to participate and benefit from the things you believe in is at the heart of Coinbase’s mission. Nobody believes this more than NBA and WNBA fans. We’re proud to become the Leagues’ official cryptocurrency partner,” said Coinbase’s Chief Marketing Officer, Kate Rouch. “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.”
This news comes on the heels of Coinbase recently announcing that it will be launching an NFT marketplace which has a waitlist of over 2 million.
