By
Chimamanda U. Martha
May 13th, 2024
NFT team New England Patriots have partnered with Chain to leverage the blockchain space and connect to Web3.
Professional American football franchise the New England Patriots has inked a four-year sponsorship deal with NFT software company Chain. Pursuant to the deal, Chain becomes the official blockchain and Web3 sponsor of the New England Patriots as well as its affiliates. These include Major League Soccer team the New England Revolution, as well as sporting venue Gillette Stadium, and nearby open-air shopping center Patriot Place.
The deal entails a multi-year marketing deal between Chain and Kraft Sports + Entertainment, a sporting subsidiary of Kraft Group. The Kraft Sports, Entertainment and Event unit manages the Patriot’s team and all aforementioned affiliates.
Executives Comment on New England Patriots’ Blockchain-focused Deal with Chain
In a statement released Thursday, Murray Kohl, vice president of sales for Kraft Sports + Entertainment, touched on the deal, saying:
“The Patriots and Revolution, along with our tech partners, have always strived to be leaders in innovation. We’ll look to innovate that same way with web3. Our fans will be able to connect with the Patriots and Revolution in ways never before possible.”
Chain CEO Deepak Thapliyal also weighed in on his blockchain company’s partnership with the New England Patriots. According to him, “…the vision is to be the tech stack and backbone for all the possible verticals for the Kraft organization which includes Patriots, Revolutions, Gillette, etc. to ensure they become the NFL leader in this space.”
According to Thapliyal, Chain intends to offer unique Web3 and NFT integrations to the Kraft Group throughout the partnership. He also emphasized how aligned the sports-operating consortium is with its blockchain tech and Web3 expansion. As he put it:
“As soon as we started talking to their organization, we could tell they would be the right organization to work with to help become the leader in the NFL to embrace opportunities within our space.”
Thapliyal also revealed an option for renewal at the end of the deal. However, the Chain chief executive officer refrained from disclosing the financial portion of the deal.
Sports Meets Blockchain
The deal between Chain and the New England Patriots management company represents the latest example of blockchain inroads into the sporting world. For instance, last year, crypto exchange FTX paid e-sports team TSM $210 million to rename itself as TSM FTX. In addition, Singapore-based crypto company Crypto.com also forked out $700 million to have the Los Angeles Staples Center renamed to Crypto.com Arena.
At the last Super Bowl NFL final playoff game, Coinbase and FTX joined a list of business ventures that ran ads. Both crypto companies got attention for their efforts, which featured a QR giveaway code for Coinbase, and a two-minute skit for FTX.
About two months ago, crypto exchange OKX announced a sponsorship deal with English Premier League champions Manchester City. This sees the English association football club’s training kit feature OKX’s logo for the 2022/2023 season.
