The Portland Trail Blazers will advertise StormX on their jerseys, based on a sponsorship dea between the NBA, and the popular cryptocurrency cashback company. The collaboration is a first for StormX, and it is the team’s first with a cryptocurrency company.
PayPal is currently in partnership with the Phoenix Suns, but apart from this, StormX is the first cryptocurrency company to have its brand logo on an NBA jersey. StormX provides clients with a Chrome extension and app that they can use to get cashback in cryptocurrency from certain retailers, including Microsoft and Uber. It also has its own coin, STMX.
The partnership heralds an increase in collaborations between the NBA and cryptocurrency. Simon Yu, CEO of StormX, is a diehard Blazers fan and thinks the future looks bright for these types of collaborations. He said, “The world will start to understand that there’s more to crypto and blockchain products outside of trading.”