Crypto.com, a Hong Kong-based operator of an online platform for cryptocurrency investors, has signed a six-year deal with the Sixers valued “in the eight figures” annually, Crypto.com CEO Kris Marszalek told the Philadelphia Business Journal. That means the price tag is at least $10 million per year.
Founded in 2016, Crypto.com today serves more than 10 million customers with its crypto app and Crypto.com Visa Card. It recently launched its Crypto.com NFT platform for collecting and trading NFTs curated from the worlds of art, design, entertainment, and sports.
“We are thrilled to launch a long-term partnership with such a progressive team at Crypto.com, a company that shares our drive for greatness,” said Chris Heck, 76ers President of Business Operations. “Crypto.com will be woven into the fabric of our identity, and together, we will change the landscape for how crypto is integrated in sports. We will also leverage Crypto.com’s forward-thinking, global expertise to unveil our first-ever NFT program. These are the types of creative, innovative partnerships that we crave, and we’re thrilled to share this with our fans in Philadelphia and around the world for years to come.”
Indeed sports marketing is an excellent platform to reach a global audience.
Marszalek, Crypto.com’s CEO, said the company has used sports partnerships to build its brand for several years and was looking for an opportunity to expand into the NBA. He said the company was attracted to the Sixers because the team “is very dynamic” and has an engaged fan base.
As for the jersey patch part of the partnership, the Sixers said all four versions of the team’s uniform this upcoming season will feature the Crypto.com patch. The patch will also be placed on all 76ers authentic jerseys sold across NBA retailers. The patch will make its official team uniform debut for the regular season when the Sixers play the New Orleans Pelicans on Oct. 20.
As part of the jersey patch deal, the Sixers will be unveiling their new City Edition uniform in November. The launch will be accompanied by another series of unique NFTs that will be available for 76ers fans to purchase throughout the year.
Under the partnership, Crypto.com will get in-arena signage on the baseline apron and courtside LED screens. The company will also sponsor rewards for fans and present a Crypto.com school to educate fans on cryptocurrency. The deal includes substantial presence for the company across all Sixers’ platforms including regional, national and global television broadcasts, as well as digital channels such as Sixers.com and team sites on Facebook, Instagram, Twitter and YouTube. Crypto.com will also have rights to the 76ers’ name and marks in marketing and advertising.
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