Coinbase Strikes Sponsorship Deal With LA Clippers, Bringing Crypto Further Into the NBA

Cryptocurrency exchange Coinbase has revealed that it has struck a sponsorship agreement with a basketball team starting this National Basketball Association (NBA) season.

Coinbase, a cryptocurrency exchange platform, has struck a sponsorship deal with the Los Angeles Clippers basketball team ahead of the upcoming NBA season.

The partnership will see Coinbase integrate its logo and branding into the Intuit Dome arena during Clippers home games, showcasing the platform's image to fans in a bid to promote digital assets.

Coinbase to Offer Clippers Fans Bitcoin, Merch, and Collectibles

Coinbase announced the partnership on Friday, revealing that it will become a sponsor of the LA Clippers for the 2024-2025 NBA regular season. The cryptocurrency platform will leverage the sponsorship to engage with Clippers fans.

As part of the deal, Coinbase will offer financial incentives to basketball fans, with the sponsorship set to provide Clippers fans with “unique experiences and limited-edition merchandise.”

The cryptocurrency exchange will also provide fans with physical and digital collectibles during Clippers home games. The financial terms of the partnership were not disclosed.

A Coinbase spokesperson stated that the crypto exchange aims to educate basketball fans on digital assets and blockchain technology through the partnership, aiming to do so in an entertaining and informative manner.

“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.

Coinbase will offer Clippers fans Bitcoin worth $5 if they sign up on Coinbase, and they can earn season-long perks from the crypto firm.

Coinbase, a Nasdaq-listed cryptocurrency exchange, is set to become a prominent presence in the upcoming NBA season, especially among basketball fans, as it aims to drive mainstream adoption of digital assets through sports sponsorships.

Crypto Platforms Ramp Up Sports Sponsorships

The partnership between Coinbase and the LA Clippers could herald a new era of sports sponsorships, with cryptocurrency exchanges set to become a permanent fixture in the sports industry.

Coinbase previously signed a deal to become the “official crypto partner” of the Golden State Warriors basketball team, making the crypto exchange a key part of the Warriors' digital strategy, which includes offering special perks to Warriors fans at home games.

Analysts have noted an increase in crypto platforms forging sponsorship deals with teams from major sports, which is helping digital asset companies gain a stronger foothold in the sporting landscape.