NBA Star Kevin Durant Signs Deal As Coinbase New Face

SYNOPSIS

  • Coinbase Global has secured a multiyear promotional contract with Kevin Durant and his firm Thirty Five Ventures.
  • Durant will become a prominent face of Coinbase, which will offer him with advertisements and sponsored material.
  • Durant’s decision is the latest in a long line of high-profile players who have jumped on the digital-asset bandwagon.

Kevin Durant of the Golden State Warriors and his firm Thirty Five Ventures have inked a multiyear contract with Coinbase Global Inc. To promote the bitcoin platform across his many enterprises.

Durant will serve as the brand’s face in advertising as part of the deal. Coinbase will also partner with Durant’s sports website, Boardroom. The partneship is to provide digital adverts and sponsored content on cryptocurrency, as well as funding for his kids projects. The agreement’s financial specifics were not disclosed.

Coinbase’s official Twitter handle shared a video of the star’s portrait made with just writing and aggregating the word “Coinbase” into an art.

In an interview, Rich Kleiman, Durant’s longtime manager and co-founder of his business, said, “Kevin does very, very few brand partnerships and that was by design.” “They’re a new type of brand partner for us, in that they integrate into all aspects of our company.”

The partnership was broadcasted in the big screens located in Time Square on this Friday.

In a bid to entice new users, cryptocurrency businesses have spent hundreds of millions of dollars on sponsorship deals with sports leagues, teams, players, and celebrities this year.

Investor Joe Pompliano wrote in his Tweet that, “Kevin Durant is partnering with Coinbase, helping them with content & education around crypto, NFTs, and more. Durant & richkleiman invested in Coinbase at a $1.6 billion valuation — it’s now a $60 billion business. They have also invested in OpenSea, Dapper Labs, and others.”

More Athletic Sponsorships

Another cryptocurrency exchange, FTX, has partnered with elite teams such as the NBA’s Golden State Warriors and will air an ad during the Super Bowl. Crypto.com has agreements with Formula 1 and the Ultimate Fighting Championship, as well as the naming rights to the NBA stadium in Los Angeles.

In addition, Coinbase has been active. It became the NBA’s first crypto partner in October, signing a multiyear sponsorship deal with the league. Team Liquid and Evil Geniuses are two of the e-sports teams it sponsors.

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