Chain Strikes Sponsorship Deal With New England Patriots

key takeaways

Deal with Patriots owner Robert Kraft-founded company to lead to “cutting-edge” experiences around Gillette Stadium
Blockchain.com’s partnership with the Dallas Cowboys in April was the first deal between a crypto exchange and an NFL team

Web3 software solutions company Chain has partnered with Kraft Sports and Entertainment to become the official blockchain sponsor of the NFL’s New England Patriots.

The deal also makes Chain a sponsor for MLS’ New England Revolution, as well as Gillette Stadium, where the Patriots and Revolution play.

“Our team is excited to help Kraft Sports and Entertainment build cutting-edge experiences for stadium visitors utilizing Chain’s proprietary blockchain technology,” Chain CEO Deepak Thapliyal said in a statement.

Terms of the deals were not disclosed. A Chain spokesperson did not immediately return a request for comment.

Billionaire Robert Kraft acquired the Patriots in 1994. Since then, the team has won six Super Bowls, all with Tom Brady as quarterback. Brady, who now plays for the Tampa Bay Buccaneers, is a brand ambassador for crypto exchange FTX.

Kraft founded the Revolution in 1996 and created The Kraft Group in 1998. Gillette Stadium opened in 2002.

Murray Kohl, vice president of sales for Kraft Sports and Entertainment, said in a statement that the Patriots and Revolution have sought to utilize tech to engage with fans over the years through early website development, a nightly internet show and a long-running podcast.

“Together with Chain, we’ll look to innovate that same way with Web3,” Kohl said.

“Our fans will be able to connect with the Patriots and Revolution in ways never before possible,” he said.

Crypto companies teaming up with professional sports teams, leagues and athletes to build brand awareness became more common during the last bull cycle and continues amid the so-called crypto winter.

Perhaps most notably, Crypto.com inked a 20-year, $700 million deal last year to rename the Staples Center — the home of the NBA’s Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks — as Crypto.com Arena.

Blockchain.com partnered with the Dallas Cowboys in April — the first such deal between a crypto exchange and an NFL team.

Terra agreed in February to pay roughly $40 million to MLB’s Washington Nationals as part of a five-year deal to sponsor its luxury club behind home plate and run a digital series on the team’s social media platforms.

The Terra Club at Nationals Park has kept its name despite the crash of Terra’s algorithmic stablecoin TerraUSD (UST) and LUNA token several months ago.

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