Chain Becomes Official Blockchain Sponsor of Two American Soccer Teams – crypto.news
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Blockchain infrastructure solutions company Chain has entered into a partnership agreement with Kraft Sports + Entertainment, part of the Krafts Group, to become the official blockchain and Web3 sponsor of the New England Revolution and England Patriots.
In an official statement on Thursday (September 22, 2022), Chain’s multi-year deal with the Krafts Group subsidiary makes the company the blockchain sponsor of the New England Patriots, who compete in the National Football League (NFL), the New England Revolution, who compete in Major League Soccer (MLS), their stadium, Gillette Stadium and Patriots Place, an open-air mall.
According to the announcement, the partnership will work together to create “modern Web 3 experiences” for New England Patriots and New England Revolution fans. Chain also said it would help Gillette Stadium navigate and adapt to Web3.
Commenting on the partnership, the chain’s CEO Deepak Thapliyal said:
“We are proud to partner with Kraft Sports + Entertainment to envision the future of Web3 for Gillette Stadium, the New England Patriots and the New England Revolution. Our team is excited to help Kraft Sports + Entertainment build cutting-edge experiences for stadium visitors using Chain’s proprietary blockchain technology.
Kraft Sports + Entertainment Vice President of Sales Murray Kohl also said:
“The Patriots and Revolution, along with our technology partners, have always strived to be leaders in innovation. From being the first professional sports team to have a website and creating the first nightly Internet show to the world’s longest continuously running podcast, we have embraced the opportunities that technology advances have presented to us and our fans.
“Together with Chain, we strive to innovate in the same way as with Web3. Our fans can connect with the Patriots and Revolution in ways never before possible.
Krafts Sports + Entertainment, part of the Krafts Group, manages content development, marketing, event operations and sales for Gillette Stadium and both New England football teams.
Crypto and sports partnership cuts amid bear market
The latest development continues the collaboration between crypto companies and sports teams. Blockchain.com became the digital partner of the NFL’s Dallas Cowboys in April 2022.
Major cryptocurrency company Crypto.com signed several sponsorship deals with sports communities. In March, Crypto.com became an official sponsor of the FIFA World Cup in Qatar. In November 2021, the crypto exchange signed a 20-year naming deal to rename the Staples Center as the Crypto.com Arena.
However, the Singapore-headquartered crypto exchange recently pulled out of a $495 million deal with the UEFA Champions League (UCL). The company was supposed to replace Russian gas company Gazprom, which terminated the deal in March after Russia’s invasion of Ukraine.
Meanwhile, it appears that the number of sponsorship deals between crypto companies and sports teams has decreased as a result of the ongoing crypto winter. According to a report in June, some companies that previously combined massive contracts with major sports franchises are looking to cut costs to survive the bear market.