The Portland Trail Blazers may not been headed to the NBA Finals this month. However, there is change in the air for the team lately; the Trail Blazers recently hired former NBA player Chauncey Billups as head coach, and now they’ve landed the first crypto jersey patch partner in the league with platform StormX.
Portland Natives Team Up
The July 1 announcement from the team sets in stone StormX as an official jersey partner and as the ‘Exclusive Blockchain Partner’ for the team. StormX is a crypto cashback provider and Chrome extension tool built to make crypto easy and accessible for users.
The partnership will be a multi-year deal with financial terms not disclosed. In addition to the jersey patch and exclusive partner rights, StormX will also work with the Trail Blazers on their first NFT series later this month. The NFTs are set to be centered around the team’s Gameday Poster Series, which engages local artists in creating unique gameday posters throughout the regular season. Additionally, brand assets will exist on practice jerseys and in-arena assets. The jersey patch sponsorship will take place starting the 2021-2022 NBA season. The Blazers and StormX will also work on a community-based initiative.
President and CEO of the team Chris McGowan said in a statement, “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 cryptocurrency and earning crypto cashback.”
StormX was started by Calvin Hsieh and Portland-raised Blazers fan Simon Yu.
“We’re honored to be the first crypto company to form a jersey sponsorship with not only a team of such high caliber, but also with a league of the same stature,” Yu stated. The sponsorship deal was orchestrated by sports agency’s Wasserman and Elevated Sports Ventures.
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StormX has sought to enable iOS and Android users to leverage the cashback model with blockchain technology. The firm has over 3MM downloads across the globe, and has paid out over $4MM in cashback rewards.
Along with just cashback from shopping, StormX has been working to integrate task completion and staking as additional ways to earn the platform’s native token, STMX.
Yu and Hsieh have worked to amass StormX’s user base to over 2MM users, establishing over 800 global partners. Now, they hope the Blazers partnership will help increase visibility to boost those numbers even further.
The StormX token is finding strength again after the substantial 2Q 2021 dip. | Source: STMX-USDT on TradingView.com
Related Reading | Crypto Exchange Crypto.com Signs Global Sponsorship With Formula 1
Featured image from Pixabay, Charts from TradingView.com
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