Crypto exchange Coinbase has announced that it has reached a sponsorship agreement with National Basketball Association (NBA) team Los Angeles Clippers. According to its statement, the exchange’s logo and image will become a regular sight at the LA Clippers home games. Aside from its branding at the new $2 billion Intuit Dome arena, the exchange will use the partnership to push for fan engagement.
The new collaboration will provide financial incentives, and will also enable both parties to provide fans with unique experiences and limited-edition merchandise. The partnership will also provide physical and digital collectibles on home game days. However, the financial details of the agreement were not revealed.
Coinbase lands LA Clippers sponsorship deal
In a statement by a Coinbase spokesperson, the exchange will leverage the partnership to educate Clippers fans about digital assets and blockchain technology. The statement revealed that the exchange intends to do it in an educative and fun way. “The goal is to provide a fun and safe pathway for fans to explore the transformative potential of these technologies and drive mainstream adoption,” the spokesperson added.
Hey Clipper Nation.
It’s official. pic.twitter.com/Yj9Tnh0LKH
— Coinbase 🛡️ (@coinbase) November 22, 2024
In its statement, Coinbase said it would give the Clippers’ fan base $5 worth of Bitcoin, and some will be able to earn season-long benefits if they sign up on its platform. The exchange will also be a major presence at home games in the Intuit Dome arena, where the new basketball court of the LA Clippers is located.
The Clippers are no newbies to the crypto sector, having played their home games at the Crypto.com arena over the last few years. Notably, the arena is also home to another Los Angeles-based team, the Los Angeles Lakers and WNBA’s Los Angeles Sparks.
Crypto makes inroads into sports with other sponsorships
Coinbase is no stranger when it comes to showcasing the beauty of crypto around sporting events and teams. Aside from its sponsorship with the LA Clippers, it has a sponsorship deal with the male and female basketball leagues in the United States, the NBA, and the WNBA. Notably, the exchange also inked a sponsorship deal with another basketball team, the Golden State Warriors, some months ago.
Away from basketball, Coinbase also has a sponsorship deal with the Canadian Football League while it has also improved its deal with German Bundesliga outfit Borussia Dortmund. The company’s push into the sporting world is a trend that has been going on for years. A CoinGecko report showed an increased crypto sponsorship deals in major sports this year. The report revealed that it is up by 200% from last year.
The report showed 26 new crypto sponsorships in sports, while 16 new ones were forged. Crypto companies targeted football clubs, with the sector seeing 10 new sponsorships from three in 2023. Some clubs include Manchester United, Chelsea, Manchester City, and Inter Milan. Crypto companies also targeted the UEFA Champions League to reach a wider audience.
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