The NBA has partnered with Coinbase to launch the first cryptocurrency wallet on the league’s official website. This is a big step for crypto as it pushes into mainstream culture and sports.
The paypal is a popular online payment service that has been around for over 15 years. Coinbase, the cryptocurrency exchange, announced last week that they are partnering with the NBA to become their official digital currency partner.
According to a statement made yesterday, Coinbase is officially the official crypto platform of the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA).
NBA has become Coinbase an official partner.
According to the statement, the partnership aims to raise blockchain knowledge while also assisting in the growth of the crypto economy. As a result, the Coinbase logo and branding will display throughout broadcast games for both leagues, and the cryptocurrency exchange will also be a partner of the NBA G League, NBA 2k League, and USA Basketball.
“The agreement, which marks each league’s first cryptocurrency platform relationship,” according to the press release, “will include unique content, innovations, activations, and experiences from Coinbase to educate fans on the growing advances occurring throughout the cryptoeconomy.”
“The freedom to engage in and profit from the things you believe in is at the core of Coinbase’s purpose,” said Kate Rouch, Coinbase’s Chief Marketing Officer, in a statement on the alliance. NBA and WNBA fans believe this more than anybody else. “We’re honored to join the Leagues as its official cryptocurrency partner.”
“We will develop interactive experiences to connect with the NBA and WNBA’s amazing community and players across the globe as part of the relationship,” Rouch added.
According to Kerry Tatlock, an NBA official, Coinbase is a “natural match” for the league, and they “look forward to working with Coinbase to offer fans with new opportunities to interact with the league and each other, while also improving the experience for fans who are currently Coinbase customers.”
Partnerships between sports and cryptocurrency are becoming more common.
While NBA clubs such as the Miami Heat have inked several crypto-related sponsorship agreements, this would be the leagues’ (NBA and WNBA) first collaboration with a crypto-related platform.
“Sports leagues have welcomed bitcoin sponsorships this year, since it is assisting leagues with a V-shape comeback after epidemic losses,” according to CNBC. Crypto sponsorships have been secured by NBA teams, Formula 1, Major League Baseball, and even the Drone Racing League in New York. DRL will get $100 million over five years from platform Algorand, while F1 also agreed to a $100 million agreement with Crypto.com in June.”
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The coinbase paypal not showing up is a recent development that has seen the cryptocurrency market grow. Coinbase, one of the biggest names in the crypto world, has become an official partner of the NBA as crypto goes mainstream.
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