The crypto industry’s connection with the sports industry is continuously improving with each new deal, and the latest one might be quite an important one. The new deal between the Portland Trail Blazers and StormX, announced this Thursday, has granted the NBA its first ever cryptocurrency jersey sponsorship.
The deal between StormX and the Blazers will be quite impactful, and thankfully, the Blazers agreed to the platform’s terms. According to the agreement, StormX will have its brand presence on the Blazers’ game, practice jerseys, on in-arena signage, and it will even leverage internationally the team’s intellectual property.
.@stormxio has Pacific Northwest roots & was founded with the hopes of increasing financial independence in young adults in a way that is purposeful, approachable & empowering. pic.twitter.com/mBtkmZx33J
— Portland Trail Blazers (@trailblazers) July 1, 2021
On top of that, the platform will also create a brand new NFT for the team, which is expected to arrive as soon as next month. Other than that, the terms of the deal were not made public, so it remains unknown whether StormX will get its money’s worth in this particular partnership. While the Blazers do have a loyal fan base, the team does have a bit of an image problem, due to hiring a new head coach, Chauncey Billups, who was accused of sexual assault back in 1997. It is worth noting that he was never charged. Instead, he settled in 2000, putting an end to the case.
Some conclusions can still be drawn from the known facts, however, such as the sponsorship experts’ suggestion that the deal is likely not over $10 million per year.
They based this assumption on the fact that the Golden State
