Blockchain startup Chain has inked a deal with Miami Heat. The Web3 company will be the team’s “official Web3 and blockchain infrastructure partner.” The deal with the NBA giant is for an undisclosed amount that will involve advertising and promotional activities. Earlier Chain had inked a deal with NFL’s New England Patriots.
Chain will add its logo to the Miami Heat shooting jersey. A press release by the company and the sports team said that Chain and Miami Heat were collaborating to bridge “the gap between the sports industry and Web3 technology” for both their audiences.
Chain CEO Deepak Thapliyal said that they wanted to engage with the “South Florida communities and Heat fans” to expand the Chain brand as well as “to tell the story of blockchain technology.” This partnership with Heat is happening when the crypto world is facing a freeze as some investors call the current period a “crypto winter.”
Chain has also recently partnered with NFL’s New England Patriots and its associated brands after signing a four-year agreement with Kraft Sports + Entertainment. The blockchain startup is the official blockchain and Web3 sponsor for the Patriots.
Chain has specialized in merging Web2 brands with blockchain the technology in Web3. It released its non fungible token (NFT) with famous jewelry brand Tiffany & Co. and NFT blue chip CryptoPunks which brought in $12 million in sales volume.
Miami Heat has also partnered with crypto companies in the past. Earlier in the year, it inked a 19-year partnership deal with crypto exchange FTX. The historic $135 million deal rebranded their home stadium as the FTX Arena. It was earlier called the American Airlines Arena. The huge indoor arena is the home of the NBA team Miami Heat. It can be used not only for basketball games but also for other sports and music events.
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