Yesterday cryptocurrency exchange and wallet provider Blockchain.com announced a partnership with NFL team the Dallas Cowboys. Blockchain.com will become the exclusive digital asset partner of the Cowboys with a sponsorship deal that includes branding, advertising, and events opportunities. According to Forbes, the Dallas Cowboys is the most highly valued team in the NFL.
Blockchain.com co-founder and CEO Peter Smith views this partnership as a way to reach the 80% of U.S. consumers who have not yet purchased any cryptocurrencies. The crypto exchange intends to produce educational content to enable Cowboys fans to understand digital assets and Web3.
“Blockchain.com is one of the oldest and most trusted digital asset platforms in the world, has easy-to-use products and remains relentlessly focused on customers,” said Dallas Cowboys owner, president, and general manager Jerry Jones. “They are bringing Wall Street to Main Street by making digital assets available to anyone, anywhere in the world – and that’s a touchdown for our millions of global fans.”
This announcement comes after the NFL said last month that clubs were now permitted to seek blockchain sponsorships.
In September, the NFL had banned its teams from taking blockchain and non-fungible token (NFT) sponsorship deals but indicated its intention to develop a league-wide digital initiative by hiring a blockchain strategist.
Despite this ban, the league partnered with Dapper Labs in September to launch an NFT product similar to NBA Top Shot. The NFL also inked a deal with Ticketmaster in November to mint tickets of select NFL games as NFTs.
It can be argued that the NFL was late to the blockchain game, with most other top U.S. sports leagues, including the NBA and MLB, already offering blockchain-based fan engagement products. Similarly, almost every major football (soccer) team in Europe has an NFT deal.
As well as Blockchain.com, other crypto exchanges have also been involved in sports sponsorships, with Crypto.com leading the way financially. In December, LA’s Staples Center was renamed to Crypto.com Arena in a $700m sponsorship deal. The crypto exchange will also sponsor this year’s FIFA World Cup in Qatar.
Crypto exchange FTX has also done significant sponsorship deals with the MLB, the NBA Miami Heat, and the NBA Warriors.
In January, Binance announced a sponsorship agreement with the Argentine Football Association. And in February, Formula One team Oracle Red Bull Racing inked a sponsorship deal with Singapore cryptocurrency exchange Bybit rumored to be worth $150 million.