The National Football League’s (NFL) New York Giants has become the first franchise within the division to enlist a cryptocurrency partner, signing Bitcoin-focused firm Grayscale as its newest sponsor.
Under the terms of the agreement, the cryptocurrency asset manager will serve as the official digital currency asset management partner to the North American football team and the presenting sponsor of The Giants Foundation Golf Outing.
In addition, Grayscale will be designated as a presenting home game sponsor, a supporting sponsor of Giants Training Camp, whilst hosting voluntary, educational seminars on cryptocurrencies for Giants personnel each year.
Michael Sonnenshein, Grayscale Chief Executive, explained: “Our partnership with the Giants is incredibly meaningful because our roots are in New York. We’re excited to partner with such a forward-thinking franchise, to work together on philanthropic initiatives, and to continue to support the New York metropolitan community.”
The expansion of cryptocurrency within the US has spiralled within recent months, with various professional sports teams and leagues tapping firms for commercial sponsorship deals.
In March, Montreal Canadiens of the National Hockey League (NHL) added cryptocurrency exchange Crypto.com to its sponsorship portfolio, whilst the National Basketball Association’s (NBA) Miami Heat inked a long-term contract with trading exchange FTX.
“We are excited to partner with Grayscale, who are innovative leaders in the digital currency market,” added New York Giants Chief Commercial Officer, Pete Guelli. “During our extensive evaluation of the space, we determined that we not only wanted a partner that understood the value of aligning with the Giants brand, but also could guide us in navigating the cryptocurrency ecosystem.
“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.”