The Philadelphia 76ers have become the first team in the NBA to ink a sponsorship agreement with a cryptocurrency firm, striking a deal with digital asset exchange Crypto.com.
The deal will see Crypto.com’s logo appears on the teams’ jerseys as well as in-arena on the baseline apron and courtside LED screens. All four versions of the 76ers uniform this season will feature the Crypto.com patch on the left shoulder of the jersey.
Logos will also appear on international and MLS jerseys, and many athletes in individual sports wear their sponsors’ attire in competition. The NBA becomes the first of the four major sports leagues to allow a cryptocurrency sponsorship patch, a step that the NFL, Major League Baseball and NHL have yet to take.
The exact financial details are not yet known, but we do know that the partnership includes the release of the 76ers’s first-ever non-fungible token (NFT), available for fans to purchase through Crypto.com NFT.
Additionally, the press release states that Crypto.com will launch a branded school within the 76ers Fan Hub to educate fans on cryptocurrency. The Sixers are set to display their new team uniform featuring Crypto.com logos when they face the New Orleans Pelicans on October 20.
Speaking on behalf of Crypto.com, CEO Kris Marszalek said: “We’re extremely excited to announce our partnership with the 76ers, becoming the first global crypto platform with an official jersey patch partnership in the NBA. The NBA is one of the most popular leagues in the world, and the 76ers were an obvious choice. Together we’re going to create integrated experiences for fans everywhere; our patch and court integrations are just the beginning.”
“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. We will also leverage Crypto.com’s forward-thinking, global expertise to unveil our first-ever NFT program. These are the types of creative, innovative partnerships that we crave, and we’re thrilled to share this with our fans in Philadelphia and around the world for years to come,” said Chris Heck, 76ers President of Business Operations.
Crypto.com has had a very busy summer, signing deals with top-tier sport teams worldwide. Earlier this month, they inked a multi-year sponsorship deal with Paris Saint-Germain (PSG), which boasts world class players including Lionel Messi, Kylian Mbappé and Neymar.
The exchange and payment provider has also bagged deals with the Ultimate Fighting Championship (UFC), Formula 1 racing, Italy’s Lega Serie A, and the IIHF Hockey World Championship, among many others.