SEATTLE - 1st July 2021 - StormX, the leading crypto cashback provider, has been announced as the first crypto jersey patch partner in the NBA, becoming the Exclusive Blockchain Partner of the Portland Trail Blazers, paving the way for other crypto brands to follow.
This is StormX’s first sports partnership and the first time the Trail Blazers have engaged a crypto-native brand as a partner.
“We’re honored to be the first crypto company to form a jersey sponsorship with not only a team of such high calibre, but also with a league of the same stature. Like the Trail Blazers namesake, we see ourselves as trail blazers in the drive for the mass adoption of crypto, by helping everyday people earn crypto while they shop,” said Simon Yu, CEO and Co-Founder of StormX, who is a Portland native and grew up as a Blazers fan.
As part of the deal, the StormX logo will appear on the upper left patch position of Trail Blazers game and practice jerseys. StormX will also receive on-court, courtside, and baseline brand exposure, including TV visible brand exposure.
StormX is also the Trail Blazers first International Rights Partner, giving StormX, in partnership with the Trail Blazers, rights to distribute and conduct team-identified marketing internationally.
In addition, StormX and the TrailBlazers team will partner on an upcoming community-based initiative tied to sustainability in Portland.
“We are extremely excited to have our team wear such a groundbreaking, revolutionary company on the front of our jerseys. StormX is a fresh, energetic company with Pacific Northwest roots that can educate and motivate Rip City around financial wellness and independence,” said Chris McGowan, President & CEO, Portland Trail Blazers and Rose Quarter.
There is a growing intersection between crypto and sports, with the NBA leading progress with the launch of NBA Top Shot, a blockchain-based trading card system where fans can purchase non-fungible tokens (NFTs) of their favorite NBA moments.
Since launch, StormX has paid out over $4 million in Crypto Cashback rewards and has grown a user base across 173 countries. In April, StormX closed a $6.03M growth round, led by PayPal & Honey investors Plug and Play Ventures with plans to expand into the NFT market and to provide further crypto cashback to users with an upcoming debit card.