In this photo illustration a Coinbase logo is displayed on a smartphone with a NBA logo in the background.
Thiago Prudencio | Sopa Images | Lightrocket | Getty Images
Cryptocurrency companies helped fuel the NBA’s sponsorship revenue to a record $1.6 billion in the 2021-22 season, according to estimates by IEG, a sports partnerships consultancy.
That’s up 13% from the $1.4 billion in the 2020-21 season. In the 2018-19 season, the National Basketball Association raked in $1.2 billion in sponsorship money. Sponsorship agreements can include deals for arena-naming rights and for companies to put their names or logos on players’ jerseys.
“The cryptocurrency category’s sponsorship sending spree is like nothing we have ever seen before,” said said Peter Laatz, IEG’s global managing director.
Crypto partnerships are now the second most lucrative sponsorship category for the NBA, behind only the technology category. Among the NBA’s crypto deals this season was a league agreement with crypto...
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