On Wednesday, 27th October, The Mavericks announced a five-year agreement with Voyager Digital. Anyone who downloads the Voyager app will receive $100 in the form of bitcoin. The offer will end at 11:59 p.m. CT on Saturday, according to the NBA team's digital content manager.

The NBA's Dallas Mavericks have signed a deal with Voyager Digital, which is a crypto trading broker, To become the team's first crypto brokerage and international partner in a five-year deal.

“The Mavs are proud to welcome Voyager to the Dallas Mavericks family,” said Mavericks owner, American billionaire entrepreneur Mark Cuban.

He adds, “Crypto assets and applications are changing how business and personal finance are done. We believe our partnership with Voyager will allow Mavs and NBA fans to learn more about Voyager and how they can earn more from Voyagers’ platform than from traditional financial applications.”

The basketball team was one of the first in the NBA to accept cryptocurrency payments for tickets and products under the ownership of Mark Cuban. The Mavs began accepting Bitcoin (BTC) in 2019, and this year — maybe as a result of Cuban's support for the meme-based currency Dogecoin (DOGE) — they expanded to incorporate the meme-based token.

The Mavs Gaming Hub, home of the Mavs' NBA 2K League franchise, will give naming rights to The Voyager app, which launched in 2018, offering over 60 different currencies to its 2 million verified users. The platform is one of a growing number of crypto businesses aiming to enter the sports industry.

As the crypto space grows and appears to become more profitable, many crypto companies and platforms have formed partnerships with sports organizations all over the world. In June, the crypto derivatives exchange FTX announced that it has signed an agreement to call the Miami Heat's home stadium FTX Arena until 2040, making it the official sponsor of Major League Baseball.

Pavan A

CBW - External Analyst

INDIA