infrastructure company blockchainChain, announced a new sponsorship agreement with the New England Patriots of the National Football League (NFL) and the New England Revolution of Major League Soccer.
Under the terms of the new four-year agreement, Chain will partner with Kraft Sports + Entertainment to create innovative Web3 experiences for visitors to Gillette Stadium, the home of the New England Patriots and New England Revolution.
Faced with the deal, Chain CEO Deepak Thapliyal he pointed:
“We are proud to partner with Kraft Sports + Entertainment to envision the future of Web3 for Gillette Stadium, the New England Patriots and the New England Revolution. Our team is excited to help Kraft Sports + Entertainment create cutting-edge stadium visitor experiences using Chain’s proprietary blockchain technology.”
Kraft Sports + Entertainment is part of a consortium, The Kraft Group, a group of private companies with business interests in professional sports, manufacturing and real estate development, headquartered in Foxborough, Massachusetts.
The company manages the sales, marketing, content development and event operations for Gillette Stadium and the two New England sports teams. He bought the New England Patriots in 1994 and was one of the founders of the New England Revolution football team.
In November 2021, Kraft signed an agreement with Socios.com to provide New England Patriots fans with a way to earn prizes for answering game-related questions during each week of the football season.
Chain CEO buys ENS patriots.eth, an NFL first
After the announcement, Thapliyal bought the Patriots.eth domain from Ethereum Name Service (ENS) for 75 ETH ($99,321.75). ENS domain names map human-readable domain names to cryptocurrency addresses, content hashes, and certain types of metadata in the Web3 environment.
They can be traded as non-fungible tokens in marketplaces secondary as OpenSea. Much of the twitter sentiment surrounding the new deal came from ENS domain owners.
Notably absent from the ad is mention of fan tokens that other sports teams have launched through Socios.com to award to fans. holders access to exclusive products and experiences for fans.
This omission is likely due to a 2022 ruling from the NFL that made it possible for teams to secure sponsorships from blockchain for up to three years, as long as the teams do not promote specific cryptocurrencies and fan tokens.
After the NFL ruling, The Dallas Cowboys became the first NFL team to sign an endorsement deal with a cryptocurrency company. in April. The agreement with exchange Blockchain.com cryptocurrency includes branding and advertising.
Thapliyal owns NFTs from BAYC and CryptoPunk
Thapliyal, an avid collector of NFTs, also has the Deepak.eth and nerev.eth domains, along with NFTs from blue-chip collections like Bored Ape Yacht Club.
In February 2022, BeInCrypto reported that Thapliyal I buy CryptoPunk #5822, another top-tier NFT, worth a record $23.7 million in ETH using the DeFi Compound protocol.
Financial terms of the deal have not been disclosed.
All information contained on our website is published in good faith and for general information purposes only. Any action that the reader takes on the information found on our website is strictly at their own risk.
We wish to give thanks to the author of this write-up for this outstanding content
NFL New England Patriots Partners With Major Blockchain Firm