How Crypto Helped NBA Increase Its Revenue

Crypto deals shot NBA’s sponsorship revenue to a record high.

Crypto companies helped NBA’s sponsorship revenue to reach a record $1.6 billion in the 2021-22 season.

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National Basketball Association’s sponsorship revenue is up 13% from $1.4 billion in the 2020-21 season.

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Peter Laatz, IEG’s global managing director, said the cryptocurrency category’s sponsorship spending spree is like nothing we have ever seen before.

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Crypto-related partnerships are now the second most lucrative category for the basketball association.

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NBA signed a league agreement of $192 million with America's largest crypto exchange Coinbase, according to CNBC.

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Earlier in a historic deal, Los Angeles Lakers signed a 20-year arena-naming rights contract worth $700 million with Crypto.com.

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Crypto firms have been active in several major sports as main sponsors.

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