Bitmain, a cryptocurrency mining giant firm will sponsor an NBA team in the new 2018/2019 season that will start soon. The new development furthers cryptocurrency adoption in the sporting world and uses in general.
NBA team, Houston Rockets will be sponsored by Bitmain, a giant cryptocurrency mining firm in the new season. This would be adding Bitmain to the group of sponsors of the Houston Rockets team.
The head of international relations at Bitmain, Haijiao Li, noted that the firm’s cooperation with Houston Rockets as the most profitable way to expand the influence of the company in the United States of America.
Also, Li noted that in his opinion wide growth of cryptocurrency sponsors and partners among other projects such as sports, is an essential means of converting consumers to adopt and understand Bitcoin and other cryptocurrencies.
Meanwhile, John Croley, the Houston Rockets VP of corporate development, noted that the team is very excited about the new partnership, as the team wants to be the first to use new digital technologies, especially with the Chinese firm that is one of the most advanced in the industry. Further, crypto companies are getting more involved in investing in sports by the day.
Cryptocurrency and Sports Industry
Blockchain technology and the cryptocurrency sector interaction with the sports industry is getting pronounced recently. The partnership between the two sectors will no doubt aid the mutual growth of the two industry.
Sport is a sector that pulls individuals from all nations of the world not considering color and sentiments, while cryptocurrency benefits also know no boundary. The mainstream partnership of the two sectors will no doubt aid broader adoption and use of cryptocurrency.
Though it is yet to see enough of it, the recent glimpse it has shown in various partnership has demonstrated that the two industries are just starting.
Recently, SportyCo, a sports decentralized investment platform was reported to have struck partnership with two English Premier League clubs, Newcastle United and Cardiff City, to conduct their ICO, to solve their financial problems through a crypto project.
Also, Etoro multi-asset trading platform signed sponsorship deals with eight English football league clubs. Further, an Italian Series C football club was purchased using cryptocurrency of recent.