Coinbase’s branding will be visible throughout the Warriors’ Chase Center.
As cryptocurrency companies resume major sponsorships in the United States, Coinbase has been named the Golden State Warriors’ official cryptocurrency partner.
The agreement signals growing confidence in digital assets after many sports organizations were affected by FTX’s high-profile collapse.
According to a Coinbase statement this week, Coinbase’s branding will be present throughout the Warriors’ Chase Center, increasing fan interaction through interactive game-day experiences and on-chain giveaways.
Golden State Warriors to Release Merchandise with Coinbase Logo
To further align the Coinbase brand with the Warriors’ image, fans will be able to purchase limited-edition merchandise bearing the Coinbase logo.
Coinbase’s multi-year partnership with the NBA is being expanded upon by this partnership, which reflects a wider trend of cryptocurrency sponsorships in American sports.
Coinbase’s Chief Marketing Officer, Kate Rouch, stated, “Our exclusive partnership with the Golden State Warriors offers fans accessible and enjoyable ways to engage with crypto.”
“We’re thrilled to bring Dub Nation into the blockchain space.”
The partnership is noteworthy in light of cryptocurrency companies’ renewed interest in sponsoring sports, even though Coinbase did not reveal the precise financial terms or the length of the agreement.
Crypto companies have pursued three times as many sports deals this year as they did in 2023, according to CoinGecko.
Following the collapse of a prior $10 million agreement with FTX in late 2021—an agreement that ended when FTX filed for bankruptcy—the Warriors have switched to Coinbase.
Numerous sports teams reevaluated their sponsorships with digital asset firms as a result of the crypto market being rocked by the fallout from FTX’s collapse.
Sports Clubs Continue to Explore Blockchain Technology
Sports teams are increasingly looking to collaborate with blockchain companies.
Paris Saint-Germain (PSG), a French football team, recently teamed up with Matchain, a blockchain platform, to improve data security and transform fan interaction through Web3 innovations.
Lionel Messi’s home team, Inter Miami, in Major League Soccer, announced in August that it would be partnering with Polkadot to use blockchain applications to improve fan engagement.
As per the agreement, every training top for Inter Miami’s First Team will have Polkadot’s logo on it.
Additionally, it was reported in March that UEFA, the organization that oversees European soccer, was seeking sponsors from the cryptocurrency exchange industry for its esteemed men’s Champions League (UCL) club competition in the 2024–2027 cycle.
The naming rights to the former Staples Center, home of the Los Angeles Lakers, were purchased by Crypto.com in 2021 for $700 million. Officially, the location is now known as Crypto.com Arena.
Additionally, the exchange signed a $175 million sponsorship agreement with the UFC. For ten years, this deal put the exchange’s logo on a variety of combat apparel, such as walk-out hoodies, top bras, and shorts.
In addition, the business has partnered with the Philadelphia 76ers, Formula 1 Racing, and even basketball star LeBron James in its marketing campaigns.