StormX is going to become the first cryptocurrency as a jersey pitch partner in NBA. The deal is in 8 digits as per StormX.
The StormX logo will be used on squad jerseys for the next five years, beginning with the 2021-22 season, according to a contract with the NBA’s Portland Trail Blazers.
In 2017, the NBA launched its jersey patch sponsorship programme, which lets clubs to earn money from businesses that pay to have their logo stitched on the front left shoulder area of jerseys.
The basketball team announced the tie up with the cryptocurrency on official twitter handle.
StormX did not disclose specific financing items but said it signed an eight-figure contract including branding in the arena and the right to be the “exclusive blockchain partner of the Portland Trail Blazers.” It is also entitled to internationally distribute and perform team-identified marketing.
Fans of both virtual currency and Basketball came on the microblogging site to share their views on the partnership.
“We are extremely excited to have our team wear such a groundbreaking, revolutionary company on the front of our jerseys,” said President & CEO, Portland Trail Blazers and Rose Quarter, Mr Mcgowan.
He also a welcomed the crypto for engaging in a great and well structured partnership with the team.
StormX is established in 2015 and operates a platform enabling users to earn money by shopping at one of over 750 stores. It also has its own STMX token, which is $209 million worth of dollars.
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