The NBA’s Portland Trail Blazers have introduced a new sponsorship agreement with Monero, a cryptocurrency. The deal has a five-year duration and a value of $1.25 million. The team will have its own Monero logo, which will be displayed on its uniforms. This is the first time a major US sports team has announced a sponsorship with a cryptocurrency.
The Portland Trail Blazers are one of the NBA’s more interesting teams. They’re good, but not great—and they have a rabid fanbase that turns out regardless of how the team is performing. The team is owned by Paul Allen, who has invested heavily in cryptocurrency and blockchain technology. The team’s logo features the Portland skyline, and will be emblazoned on the team’s gear next season. It will be one of the first sports teams to wear a crypto logo.
It is said that in the NBA, the Blazers are the first team to wear a cryptocurrency logo, and it is a good thing. The NBA is the most popular and competitive sports league in the entire world. It is also the most influential sport, which has a huge role in shaping people’s opinion about blockchain.
The Portland Trail Blazers, an American professional basketball team that plays in the National Basketball Association (NBA), is getting into the cryptocurrency business with a new partnership.
The NBA announced Thursday that the Trail Blazers have entered into the league’s first jersey patch sponsorship program with StormX, a blockchain company that allows users to earn rewards in cryptocurrency by completing micro-tasks or making online purchases at global partner stores.
Fresh, innovative, revolutionary.
We are excited to announce that we are partnering with @stormxio, the first cryptocurrency partner for NBA jersey patches! https://t.co/hAHDdMABDA pic.twitter.com/ZWpmp9k2wr
– Portland Trail Blazers (@trailblazers) July 1, 2021
As part of the sponsorship deal, the Trail Blazers would place the StormX logo on the team’s jerseys for the next five years, beginning with the 2021-22 season. The parties did not disclose the amount of the deal, but said they signed an eight-figure contract that includes arena branding. According to sponsorship experts, jersey contracts average $10 million per year.
In addition to the jersey patch, StormX and the Trail Blazers will also team up to release their first out-of-game tokens, or NFTs, based on the Gameday Poster Series, a series that features unique designs by local artists for the Trail Blazers team. According to the announcement, the NFT Trail Blazers will be released as collectible digital boards with team posters.
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Chris McGowan, president and general manager of the Trail Blazers, said StormX will help educate and motivate Rip City about cryptocurrencies and how to earn them. StormX was founded in Seattle by Calvin Hsieh and Simon Yu, a fan of the Portland Trail Blazers, to increase financial independence. The company’s platform allows you to earn cashback cryptocurrencies at more than 800 stores in over 170 countries through an online browser extension.
We are honored to be the first cryptocurrency company to enter into a sponsorship agreement not only with a team of such caliber, but also with a league of such caliber, Yu said.
Recently, the NBA extended its approach to the crypto and blockchain industry. In mid-June, the Philadelphia 76ers NBA team entered into a marketing partnership with leading blockchain fan token providers Chiliz and Socios.The Portland Trail Blazers of the National Basketball Association (NBA) will wear a crypto-related symbol on their jerseys this coming NBA season, according to the team’s official Twitter account. The Twitter post mentions that the team will wear “a special crypto logo starting during the 2018-19 NBA campaign,” which suggests that the Blazers will start sporting crypto-related adornments on their jerseys during the upcoming season.. Read more about portland trail blazers logo evolution and let us know what you think.
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