2022 Sports indusstry outlook
"Cryptocurrency has been playing at the margins of the sports business for a few years
now. We’ve seen players paid in crypto, and some teams in the MLB, NBA, and NHL are
accepting it for season tickets and other merchandise.
In their quest for greater brand awareness, legitimacy and customer acquisition,
crypto players have been tickets heavily in sports sponsorships. The crypto exchange
FTX signed a five-year deal with MLB and bought the naming rights to the arena for the
NBA’s Miami Heat.
Coinbase has partnered with the NBA and WNBA in the hopes of better engagement with fans.
The Staples Center will be renamed Crypto.com Arena in a massive US$700 million, 20-
year naming rights deal.
These sponsors may be looking to leverage their burgeoning relationship with sports
organizations to develop for future offerings together"