Golden State Warriors Replace FTX with Coinbase as Official Crypto Partner
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The Golden State Warriors have named Coinbase as their official cryptocurrency partner as crypto companies return to major U.S. sponsorships.
The agreement signals growing confidence in digital assets after many sports organizations were affected by FTX’s high-profile collapse.
Coinbase’s branding will be visible throughout the Warriors’ Chase Center, enhancing fan engagement with on-chain giveaways and interactive game-day experiences, according to a statement by Coinbase this week.
Golden State Warriors to Release Merchandise with Coinbase Logo
Limited-edition merchandise for fans will also feature the Coinbase logo, further integrating the brand with the Warriors’ image.
This partnership builds on Coinbase’s multi-year collaboration with the NBA, reflecting a broader resurgence in crypto sponsorships within U.S. sports.
“Our exclusive partnership with the Golden State Warriors offers fans accessible and enjoyable ways to engage with crypto,” said Coinbase’s Chief Marketing Officer, Kate Rouch.
“We’re thrilled to bring Dub Nation into the blockchain space.”
While Coinbase did not disclose specific financial terms or the duration of the agreement, the partnership is notable amid a renewed interest in sports sponsorships by crypto companies.
According to CoinGecko, crypto companies have pursued triple the number of sports deals this year compared to 2023.
The Warriors’ move to Coinbase follows the collapse of a previous $10 million deal with FTX in late 2021, an agreement that ended when FTX filed for bankruptcy.
The fallout from FTX’s implosion sent shockwaves through the crypto market, leading many sports teams to reassess sponsorships with digital asset firms.
Sports Clubs Continue to Explore Blockchain Technology
There has been a surge in sports clubs exploring partnerships with blockchain firms.
Just recently, French football club Paris Saint-Germain (PSG) partnered with blockchain platform Matchain to revolutionize fan engagement and enhance data security through Web3 innovations.
In August, Major League Soccer’s Inter Miami, home to star player Lionel Messi, announced a partnership with Polkadot to enhance fan engagement through blockchain applications.
Per the deal, Inter Miami’s First Team training kit will display Polkadot’s logo on all training tops.
In March, it was also reported that UEFA, the governing body of European soccer, was looking to secure sponsors from the crypto exchange sector for the upcoming 2024-2027 cycle of its prestigious men’s Champions League (UCL) club competition.
In 2021, Crypto.com spent $700 million for the naming rights to the former Staples Center, where the Los Angeles Lakers play. The venue is now officially called Crypto.com Arena.
The exchange also entered a $175 million deal to sponsor the UFC. This agreement placed the exchange’s logo on various fight gear, including shorts, top bras, and walk-out hoodies, for a decade.
Furthermore, the company has engaged in various other sports partnerships, including with the Philadelphia 76ers and Formula 1 Racing, and even featured basketball superstar LeBron James in its promotional efforts.
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