New Blockchain Firm Chain Inks Web3 Infrastructure Partnership with Miami Heat
The National Basketball League's (NBA) Miami Heat and blockchain infrastructure startup Chain have partnered to display the company's logo on players' shirts and to introduce Web3 programming.
The company now has exclusive rights to develop blockchain infrastructure and Web3 for the Miami Heat, whose home games are held at FTX Arena.
The CEO of Chain, Deepak Thapliyal, told CoinDesk, “Our goal is to help these teams in tandem break through into Web3 and bridge their existing client and fan base into crypto.”?
The NBA expanded its jersey patch program last year to include shooting shirts and warm-up jackets, and Chain will be the first company to have its logo appear on Miami Heat's shooting shirts. This new sponsorship marks Chain's second major sports sponsorship.
Thapliyal plans to engage Heat fans through programming events as well as social media content. “As part of this newly formed partnership, we want to engage the South Florida communities and Heat fans to help expand the Chain brand while continuing to tell the story of blockchain technology," he said.
A $135 million naming rights contract was signed by the Heat in March 2021 with cryptocurrency exchange FTX, which was their first major crypto sponsorship. Chain signed a similar partnership with Kraft Sports + Entertainment to become the official blockchain and Web3 sponsor of the New England Patriots.
Chain, a company acquired in 2018 by Lightyear, declined to provide details about the type of Web3 activation involved, its duration, or its financials.
CBW - External Analyst