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Coinbase signs a sponsorship agreement with NBA

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American cryptocurrency exchange platform Coinbase has become an exclusive partner of the National Basketball Association (NBA).

According to the NBA press release, Coinbase will place its ads on the platforms of the United States National Basketball Team; Women’s National Basketball Association (WNBA); NBA G League; also NBA 2K League.

“As part of the partnership, we will create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes around the world”. Said Coinbase Chief Marketing Officer, Kate Rouch.

The 75th anniversary season of the NBA started on October 20; with the victory of Milwaukee Bucks over Brooklyn Nets with a score of 127:104.

FTX Arena

Earlier in March, FTX Bitcoin exchange concluded a 19-year agreement to rename the home arena of the Miami Heat basketball club to FTX Arena. Over time, the district will receive almost $90 million from the exchange as part of the partnership.

In addition to NBA games, the iconic Biscayne Bay venue hosts concerts, performances, cultural events; and other activities, attracting nearly two million visitors per year.

FTX will also participate in the implementation of financial technology and literacy education programs in Miami-Dade; and will additionally invest $5 million in its community.

The Run it Back NFTs

Recall that the daily trading volume on the NBA Top Shot non-fungible token (NFT) platform increased from $829,520 to $4.5 million per day after the release of the new collection on October 14. The growth was more than 460%. Furthermore, by the next day, the marketplace had more than $4 million in tokens in circulation.

The Run it Back 05-06 collection is dedicated to the best moments of the 2005-2006 season. The champion then became the Miami Heat club, for which Dwyane Wade and Shaquille O’Neal played.

Previously in September, three-time NBA champion Stephen Curry became an FTX ambassador.

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