NBA gets a first ever crypto jersey sponsorship deal with StormX

on Jul 3, 2021
  • Crypto firm StormX just partnered with Portland Trail Blazers.
  • The deal will allow NBA its first crypto jersey patch deal.
  • Also, Blazers will get to be blockchain-friendly and enjoy various benefits.

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The crypto industry’s connection with the sports industry is continuously improving with each new deal, and the latest one might be quite an important one. The new deal between the Portland Trail Blazers and StormX, announced this Thursday, has granted the NBA its first ever cryptocurrency jersey sponsorship.

The deal between StormX and the Blazers will be quite impactful, and thankfully, the Blazers agreed to the platform’s terms. According to the agreement, StormX will have its brand presence on the Blazers’ game, practice jerseys, on in-arena signage, and it will even leverage internationally the team’s intellectual property.

On top of that, the platform will also create a brand new NFT for the team, which is expected to arrive as soon as next month. Other than that, the terms of the deal were not made public, so it remains unknown whether StormX will get its money’s worth in this particular partnership. While the Blazers do have a loyal fan base, the team does have a bit of an image problem, due to hiring a new head coach, Chauncey Billups, who was accused of sexual assault back in 1997. It is worth noting that he was never charged. Instead, he settled in 2000, putting an end to the case.

Some conclusions can still be drawn from the known facts, however, such as the sponsorship experts’ suggestion that the deal is likely not over $10 million per year.

They based this assumption on the fact that the Golden State Warriors earns around $20 million per season for its own jersey patch, which is the most expensive in the NBA.

About StormX

StormX is a company that allows users to earn digital currencies whenever they shop with top brands. This is possible through rewards and cash-backs, while the company itself generates revenue from transaction fees.

According to the company’s announcement, StormX currently has over 2 million users worldwide, as well as 800 partners. Thanks to the partnership with the company, Blazers also got the blockchain element into the picture, which will be important for the future, as it will allow them to collect fan data, change the way ticketing works, and alike. Blazers’ CEO, Chris McGowan, described the company as revolutionary, noting that the deal will also allow Blazers’ fans to be more educated in regards to crypto.


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