On Thursday, StormX, a leading cryptocurrency cashback provider, announced that it will conduct a jersey patch advertising transaction with Portland Trail Blazers (POR).
This is the first cooperation between the National Basketball Association (NBA) and the cryptocurrency company for the NBA team in history. The partnership is also the first collaboration between StormX and Portland Trail Blazers.
According to CNBC’s report, StormX will conduct the transaction through Wasserman Media Group’s sports organisation, enabling StormX’s company logo to appear on the Trail Blazers game and practice jerseys. StormX will also receive on-court, courtside, and baseline brand exposure, including TV visible brand exposure, according to StormX. The logo will also be marked as the team’s intellectual property rights internationally.
Blazers CEO Chris McGowan said in a statement, appreciating StormX “revolutionary”:
StormX owns a customer base in 173 countries. StormX allows users to earn cryptocurrency when buying top brands, such as cashback or reward-based business models and has paid out over $4 million in Crypto Cashback rewards since launch.
Simon Yu, CEO and Co-Founder of StormX, said that:
“We’re honored to be the first crypto company to form a jersey sponsorship with not only a team of such high calibre, but also with a league of the same stature. Like the Trail Blazers namesake, we see ourselves as trail blazers in the drive for the mass adoption of crypto, by helping everyday people earn crypto while they shop.”
Reportedly, StormX will also create the team’s first NFT to be launched this month.
Cryptocurrency has been particularly active in the sports field, especially after the success of the irreplaceable token platform NBA Top Shot.
Early this Tuesday, Hong Kong-based cryptocurrency exchange Crypto.com was paired with racing car brand Formula 1 as a global partner.
Image source: nba.com