When the National Basketball Association season kicks off next month, not one but two teams will be wearing crypto-related promotional badges.
The Philadelphia 76ers announced on Wednesday that the Crypto.com logo will be featured on all team uniforms. The Sixers are joining the Portland Trail Blazers who signed a deal with crypto e-commerce site StormX earlier this year.
It’s just the latest major crypto branding activation in the world of sports, with Crypto.com, the FTX crypto exchange (whose logo is on Major League Baseball referee uniforms, among others), and others hitting sports fans all over the world .
The Sixers partnership with Crypto.com has existed for six years, an exchange representative told CoinDesk. The cost of the deal was not disclosed, though a source with Knowledge tells CoinDesk that it is valued at eight digits annually.
Crypto.com has made a number of high profile sports partnerships lately, but this is the first with the NBA. The most important partnerships for the crypto exchange include the Paris Saint-Germain football club, the Formula 1 car racing league and the Montreal Canadiens of the National Hockey League.
The Sixers deal also includes a non-fungible token (NFT) angle. The team launches its first batch of digital collectibles through Crypto.com’s NFT platform.
“Crypto.com will be woven into the fabric of our identity and together we will change the landscape for integrating crypto into sport,” said Chris Heck, 76ers president of business operations, in a statement.