As part of the deal, Crypto.com will launch a series of non-fungible tokens (NFTs) for the team, while players will carry the company patch on their jerseys. The crypto platform will also be holding presentations in schools to educate fans about cryptocurrency.
"Crypto.com will be woven into the fabric of our identity and, together, we will change the landscape of how cryptocurrencies are integrated into sport," said Chris Heck, president of corporate operations at 76ers. Meanwhile, Crypto.com co-founder and CEO Kris Marszalek said the 76ers were "perfectly suited to our list of world-class sports partners."
The partnerships of Crypto.com
While this is Crypto.com's first partnership within the NBA, the platform has entered into deals with a number of different teams across many sports. In March, Crypto.com announced its partnership with NHL's Montreal Canadiens. In July, the platform continued its series of collaborations, with the Ultimate Fighting Championship (UFC) mixed martial arts league, to feature its logo on the fighters' uniforms.
Since August, the partnerships have continued, including with the Italian Serie A League, Formula 1, the Paris St. Germain football team and the eSports Fnatic team. According to a Bloomberg source, Crypto.com's partnerships with sports brands now total more than $ 400 million.
FTX offers
However, Crypto.com isn't the only cryptocurrency-based company coming to understand the importance of sports sponsorship. For example, cryptocurrency exchange FTX has also made great strides to make its brand known to sports enthusiasts.
The company has hired American sports icons Tom Brady and Stephen Curry to become global brand ambassadors. In addition, he owns the naming rights to the home stadiums of the NBA's Miami Heat and the University of California football team. Earlier, FTX CEO Sam Bankman-Fried said there are indications that his sponsorships were a "non-trivial piece" of how people learned about FTX.
And what do you think of these numerous partnerships? Will they help the world of cryptocurrencies to become mainstream or will it always remain a niche subject as investment in general has been until now? Let us know in the comments section below.
