Coinbase, a cryptocurrency exchange, has disclosed that it has secured a sponsorship partnership with a basketball team for the forthcoming NBA.

The digital currency exchange platform disclosed its intention to grant Clippers supporters Bitcoin worth $5. It emphasized that by signing up for Coinbase, fans can access season-long perks provided by the cryptocurrency firm.

The alliance formed between Coinbase and the LA Clippers could indicate the beginning of a transformative phase in sports sponsorships, characterized by the growing influence of cryptocurrency firms, thus embedding crypto more deeply within the sports industry.

Moreover, Coinbase has established itself as the “official crypto partner” of the Golden State Warriors, reinforcing its role in the team’s digital strategy and offering exclusive advantages to fans during home games.

Market analysts have observed a notable increase in cryptocurrency platforms pursuing sponsorship arrangements with major sports teams. Such collaborations are allowing digital asset companies to enhance their visibility and influence in the sports domain.