StormX, a crypto rewards app, will have its logo appear on the Portland Trail Blazers’ game and practice jerseys next season, marking the first time that a cryptocurrency brand will have an NBA jersey patch deal.
The exclusive blockchain partner of the Trail Blazers, StormX has a mobile app that lets users earn crypto cash back for purchases made at more than 800 global retailers that have partnered with StormX. The Trail Blazers also have plans to release its first NFT later this month.
The sports industry has seen an influx of sponsorship deals with cryptocurrency brands, including crypto exchange FTX having secured deals with MLB and Tom Brady in addition to a $210 million naming rights deal with esports team TSM and a $135 million arena naming rights deal with the Miami Heat .
Formula 1’s new sponsorship with Crypto.com is worth $100 million over five years, according to CNBC .
