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NBA’s Boston Celtics Announces Partnership Deal with Socios

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by Babafemi Adebajo · 3 min read
NBA’s Boston Celtics Announces Partnership Deal with Socios
Photo: Boston Celtics

The partnership will allow Socios to use Celtic’s logos and marks for international marketing. It will also help the Celtics improve global fan engagement through fan tokens and transactional fan engagement.

The Boston Celtics basketball team on Wednesday announced its partnership with blockchain-based sports firm Socios.com. With this partnership, the 17 times world champions will join other sports franchises that have been involved with Socios. This partnership raises the tally of franchises involved with Socios to over 40 across different sports.

Socios had previously taken to creating digital tokens for the biggest sports organizations. The list includes not just clubs in the NBA, but other sports including soccer, Formula 1, MMA, and cricket. FC Barcelona, Juventus, Paris Saint-Germain, Manchester City, NHL side New Jersey Devils, F1’s Aston Martin Cognizant and Alfa Romeo Racing, the Argentina National team are some of the readiest examples that come to mind.

Per the announcement on Wednesday, Socios will take a front-row seat on the Celtics website, serving as the team’s presenting partner. They will be featured in all information related to the franchise and will use Celtics’ logo and insignia for international marketing.

Why the Partnership Deal between Boston Celtics and Socios?

CEO of Socios, Alexandre Dreyfus believes the partnership will help increase global fan engagement for the Boston Celtics. Speaking on the development also, Senior Vice President of Corporate Partnerships & Business Development for the Boston Celtics, Ted Dalton, expressed excitement about the partnership:

“We’re always looking for innovative ways to reach Celtics fan, and we’re excited to find a partner that values fan engagement as much as we do.”

It’s a win-win for both parties. On one end, the new deal with the Celtics shows Socios’ expansion into the US sports market. On the other, the Celtics will take advantage of Socios’s expansive fan engagement platform to stay closer to their fans despite the distance imposed by the pandemic.

With over $150 million generated in revenue in 2021 through sports franchises, an app available in 10 languages, and many more deals lined up, Socios is positioning well ahead of the curve. The company’s vision of an extensive network of top sporting organizations through fan tokens and transactional fan engagement is certainly becoming a reality.

Of course, Socios is not alone in this drive for tokenizing professional sports players. Many other blockchain firms have been announcing similar partnerships in recent times. Just last week, Portland Trail Blazers clinched a sponsorship deal with StormX. Dapper Labs’ NBA Top Shot is backed by pro players including Michael Jordan, Alex Caruso, and Kevin Durant.

With clubs looking for alternative business models to embrace following the drop in ticket sales and streaming revenue because of the pandemic, we can expect many more of such deals soon.

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Babafemi Adebajo

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

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