An important basketball club known as the Cleveland Cavaliers, also known as The Cavs, has announced the start of a partnership with the crypto-focused company UnitedCoin this week. The Cavs, together with the Cavs Legion GC, its associated esports club, is set to begin the partnership that was recently announced by the National Basketball Association (NBA).
According to the announcement, the partnership will be focused on advertising. UnitedCoin will become a sponsor for The Cavs and become the “official cryptocurrency partner” of the company. UnitedCoin is also reported to have a LED sign outside of the Cavs’ Rocket Mortgage Field House.
The brand of the crypto company is also going to be put on social media channels and displayed on the in-game home court of the team as well. While the press release affirms that UnitedCoin will provide “an inroad to the fintech sector via crypto” for the basketball team, no further information on this is mentioned.
The press release affirms that UnitedCoin is a registered crypto exchange that is registered by the U. S. Securities and Exchange Commission (SEC). Its main services include transactions related to crypto (both crypto on crypto and fiat for crypto trades) that can be done via email or phone. UnitedCoin is also said to have a MasterCard debit card which can be used to spend cryptos anywhere.
Sports Crypto Sponsors Are Pretty Common Now
With the rise of Bitcoin and the crypto mania that followed it, several crypto companies are now looking to go mainstream. This caused many of them to sponsor sports teams in order to get some attention from the fans.
For instance, the Miami Dolphins have recently announced Litecoin (LTC) as the official crypto of the team. West Ham United, an important soccer club from the U. K. was also reported recently to start a new partnership with a company that was focused on cryptocurrencies.
It looks like we’ll see way more of these partnerships as more and more companies are getting interested in also getting some of the attention of sports fans in order to grow.