Blockchain Start-Up Chain Announces Collaboration With Miami Heat
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The agreement, which will make Chain the official Web3 and blockchain infrastructure collaborator of the team, is the Heat's second significant cryptocurrency sponsorship. The sponsorship followed a $135 million agreement for stadium brand recognition with cryptocurrency exchange FTX in March 2021.
Integration of Sports and Web3
The collaboration will keep the sports sector and Web3 technologies connected. To bring experiences and blockchain infrastructure to traditional business, Chain has worked with several premium retail companies, numerous professional sports leagues, and giants of finance.
Deepak Thapliyal, the CEO of Chain, stated In an interview that the company wants to assist these teams to work together to break through into Web3 and integrate the existing client and supporter base into cryptocurrency. He further stated that in this market environment,
We are not evaluating what others are doing in this market climate but what our partnerships can do with these sports teams to help bring our product exposure and implementation to a broader base.
Collaboration of Chain with NFL
Chain focuses on fusing Web3 technology with Web2 businesses and assets. Most recently, it gained attention for its non-fungible token (NFT) partnership with Tiffany, a jewelry company, and NFT powerhouse CryptoPunks, which generated $12 million in sales volume.
The cooperation comes only one week after Chain launched a similar relationship with the National Football League's (NFL) New England Patriots. With the signing of this agreement, the NFL and DFL will communicate and work together more often in marketing, broadcasting, and programming. Donata Hopfen, CEO of the DFL, and Roger Goodell, commissioner of the NFL, signed the collaboration agreement.