Cryptocurrency companies have been finding ways to expand their presence and attract more users to the industry. One of the ways to do so is via partnerships with sports teams, and Grayscale has made its move in this direction.
Grayscale partners NFL team New York Giants
Grayscale, one of the leading institutional digital asset investment firms, has announced its partnership with the New York Giants. This is the first time a cryptocurrency company is partnering with a National Football League (NFL) team.
The Giants, in their press release, said, “Grayscale Investments®, the world’s largest cryptocurrency asset manager, and the New York Giants today announced their exclusive partnership, making Grayscale the Official Digital Currency Asset Management Partner of the New York Giants. Grayscale is the first cryptocurrency partner of an NFL team, and the partnership reflects both Grayscale and the Giants’ commitment to supporting the New York metro area, home to Grayscale’s headquarters.”
Grayscale CEO Michael Sonnenshein said the partnership with the NFL team is significant since the company has roots in New York. He expressed his excitement to partner with a forward-thinking franchise and looks forward to working with the Giants on philanthropic initiatives.
In its capacity as the Official Digital Currency Asset Management Partner of the New York Giants, the cryptocurrency company will be the Presenting Sponsor of The Giants Foundation Golf Outing. “Grayscale will also be a Presenting Home Game Sponsor, a Supporting Sponsor of Giants Training Camp, and will host voluntary, educational seminars on cryptocurrencies for Giants personnel each year,” the post added.
New York Giants Chief Commercial Officer Pete Guelli commended Grayscale for playing an innovative role in the digital currency market. He added that the Giants chose Grayscale because they wanted a partner that would understand the value of aligning with the Giants brand and help them navigate the cryptocurrency space. “Grayscale quickly emerged as a company that shares our passion for the New York market but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve,” he concluded.
Crypto companies building valuable partnerships in the sporting world
This latest development comes at a time when crypto companies are partnering with sporting establishments around the world. Last month, crypto exchange FTX officially became the sponsor of the Miami Heat basketball team in a deal that would span for 19 years. FTX’s subsidiary, Blockfolio, signed an endorsement deal with NFL star Trevor Lawrence and paying the player his bonuses in cryptocurrencies.