NBA’s Portland Trail Blazers Team Up with Crypto Cashback Company Stormx – Bitcoin News
In 2021, there were a variety of cryptocurrency-related announcements about professional sports teams, leagues, and famous athletes. On July 1, the National Basketball Association (NBA) Portland Trail Blazers announced that the professional basketball team has partnered with cashback blockchain company Stormx.
Portland Trail Blazers uniforms with the logo of the Crypto Cashback company
The NBA’s Trail Blazers announced this week that the basketball team has closed a deal with blockchain company Stormx. Founded in 2015, the Stormx project is basically a crypto cashback provider that also offers a native token called STMX. The Trail Blazers and the NBA’s own publication hosted on nba.com claim the deal between Stormx and the team is an “unprecedented partnership.”
In essence, Stormx will be the Portland team’s first international rights partner aiming to “inspire fans around the world.” Stormx will have the right to conduct team-oriented marketing and other forms of activities internationally. The Stormx logo will also appear on the team uniform, according to the announcement. Chris McGowan, the president and CEO of the Portland Trail Blazers and Rose Quarter, said he looks forward to seeing team sport “such a groundbreaking, revolutionary enterprise on the front of our jerseys”.
“Stormx is a fresh, energetic company with roots in the Pacific Northwest that can educate and motivate Rip City about cryptocurrency and earn crypto cashback,” added McGowan. “I look forward to taking these next steps together as a partner.”
Crypto is invading mainstream sports
Sports offers like this are nowadays more and more penetrating the world of cryptocurrencies. For example, MLB club The Oakland A started accepting bitcoin for 2021 season passes this year and even announced that the ball club would hold the bitcoins received from ticket sales. In March, several NBA team owners formed an NBA blockchain advisory committee for the American professional basketball league. The NBA Blockchain Committee is made up of owners of teams like the Nets, Mavs, Wizards, Celtics, Kings, and Jazz.
Digital currency company FTX Trading Limited has also worked tirelessly with players and professional sports leagues. FTX has managed to acquire the naming rights to the NBA’s Miami Heat Arena, partner with the MLB, and land a naming deal with esports giant TSM. Last week, FTX also announced a partnership with Brazilian model Gisele Bündchen and her spouse, seven-time Super Bowl champion Tom Brady. As for the deal between the Portland Trail Blazers and Stormx, the two companies will also launch non-fungible tokens (NFTs).
The Trail Blazers and Stormx plan to release the first NFT in mid-July, based on the team’s acclaimed Gameday poster series. “We are honored to be the first crypto company to sponsor not only such a high-profile team but also a league of the same stature,” said Simon Yu, CEO and co-founder of Stormx, in one Explanation. “Like the Trail Blazers’ namesake, we see ourselves as pioneers in mass adoption of crypto by helping ordinary people make crypto while shopping,” he added.
What do you think of the Stormx and Trail Blazers partnership? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons
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