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76ers Become Second NBA Team to Ink Crypto Ad Patch Deal
The Philadelphia team will sport the Crypto.com logo on its jerseys starting this season.
When the National Basketball Association’s season starts next month, not one but two teams will be wearing crypto-related ad patches.
The Philadelphia 76ers announced Wednesday that Crypto.com’s logo will be emblazoned on all team uniforms. The Sixers join the Portland Trail Blazers, which inked a deal with crypto e-commerce site StormX earlier this year.
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It’s just the latest major crypto brand activation in the world of sports, with Crypto.com, crypto exchange FTX (whose logo is, among other places, on uniforms of Major League Baseball umpires) and others making a land grab for sports fans everywhere.
The Sixers partnership with Crypto.com is for six years, an exchange representative told CoinDesk. The deal’s cost was not disclosed though a source with knowledge tells CoinDesk it is valued at eight figures annually.
Crypto.com has made a number of high-profile sports partnerships of late but this is its first with the NBA. Major partnerships for the crypto exchange include soccer club Paris Saint-Germain, car racing league Formula 1, and the National Hockey League’s Montreal Canadiens.
The Sixers deal also includes a non-fungible token (NFT) angle. The team is launching 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 how crypto is integrated in sports,” 76ers President of Business Operations Chris Heck said in a statement.
Read more: Staples Center Name Change Tops List of Crypto Sports Sponsorship Deals
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
