Trail Blazers, StormX Agree to NBA's 1st-Ever Cryptocurrency Jersey Patch Contract

Joseph Zucker@@JosephZuckerFeatured Columnist IVJuly 1, 2021

Portland Trail Blazers guard Damian Lillard (0) high fives guard CJ McCollum (3) over forward Robert Covington during the second half of an NBA basketball game against the Phoenix Suns, Thursday, May 13, 2021, in Phoenix. (AP Photo/Matt York)
AP Photo/Matt York

The Portland Trail Blazers announced StormX will be their new jersey patch sponsor, the first such deal with a cryptocurrency provider in the NBA.

Portland Trail Blazers @trailblazers

Fresh, groundbreaking, revolutionary. <br><br>We’re excited to announce we are joining forces with <a href="https://twitter.com/stormxio?ref_src=twsrc%5Etfw">@stormxio</a>, the first cryptocurrency jersey patch partner in the NBA! <a href="https://t.co/hAHDdMABDA">https://t.co/hAHDdMABDA</a> <a href="https://t.co/ZWpmp9k2wr">pic.twitter.com/ZWpmp9k2wr</a>

"We are extremely excited to have our team wear such a groundbreaking, revolutionary company on the front of our jerseys," Blazers president Chris McGowan said of the deal. "StormX is a fresh, energetic company with Pacific Northwest roots that can educate and motivate Rip City around cryptocurrency and earning Crypto Cashback. I look forward to taking these next steps together as partners."

The NBA and its teams have been quick to jump on the crypto bandwagon.

The Sacramento Kings were the first professional sports franchise to accept Bitcoin as a form of payment in 2014. More recently, the league lent its license to NBA Top Shot, which has seen fans and some players spend large sums on non-fungible tokens.

The Blazers will release an NFT in mid-July to celebrate their new sponsorship deal with StormX.