On Thursday, StormX, a leading cryptocurrency cashback provider, announced that it would be conducting a Jersey patch promotional transaction with Portland Trail Blazers (POR).
This is the first collaboration in history between the National Basketball Association (NBA) and the cryptocurrency company for the NBA team. The partnership is also the first ever collaboration between StormX and Portland Trail Blazers.
According to the CNBC report, StormX will conduct the transaction through the Wasserman Media Group’s sports organization, which will allow StormX’s corporate logo to appear on the Trail Blazers’ match and training jerseys. StormX will also get branded presence in court, on the field and at the baseline, including branded presence on TV, according to StormX. The logo is also marked internationally as the team’s intellectual property.
Chris McGowan, CEO of Blazers, said in a statement, recognizing StormX as “revolutionary”:
“The deal enables the Blazers fan base to be more educated about cryptocurrency and how to earn crypto cashback.”
StormX has a customer base in 173 countries. StormX enables users to earn cryptocurrency when purchasing 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:
“We are honored to be the first crypto company to sponsor a jersey not only with such a top-class team, but also with a league of the same format. Like the Trail Blazers namesake, we see ourselves as pioneers in driving the mass adoption of crypto by helping ordinary people make crypto while shopping. “
Allegedly StormX will also create the team’s first NFT start this month.
Cryptocurrency has been particularly active in the sports arena, especially after the success of the irreplaceable token platform NBA Top Shot.
At the beginning of Tuesday, the Hong Kong-based cryptocurrency exchange Crypto.com was merged with the Formula 1 racing car brand as a global partner.
Image source: nba.com