Coinbase, the renowned crypto exchange, recently established new partnerships with NBA star Kevin Durant. The multi-year promotional deal also involves the Rich Kleiman-owned Thirty-Five Ventures.
The deal will see Durant appear as the face for Coinbase, and in return, the exchange will promote sponsored content and digital ads on Boardroom, Durant’s sports site. Moreover, the platform will also donate to the player’s charity foundation.
Coinbase plans to post advertisements to welcome the collaboration with Durant. The player has been associated with the crypto exchange since 2017. The relationship started with Durant investing in Coinbase, which as per MarketWatch, has surged over 5,000%.
Durant also talked about the development, stating that being an investor in the platform is an exciting feeling.
In a recent interview, Durant’s manager, Rich Kleiman, also talked with Bloomberg. Rich stated that Durant rarely does branding deals. Coinbase is a new model partner for the player, and it will integrate into different sections of Durant’s business.
Kate Rouch, Coinbase’s chief marketing executive, stated that Kevin Durant is an ideal partner for the exchange. The executives added that the NBA star seems genuinely excited and experienced about cryptocurrencies. Durant’s popularity and reach will help Coinbase gain millions of new users across the globe.
Neither the crypto exchange nor the NBA star has disclosed any detail about the deal’s financial terms. However, seeing how Durant invested over 100 million dollars in Coinbase 4 years ago, the amount is expected to be in a similar ballpark.
Given the reach of the NBA star and the exchange, the deal will undoubtedly render benefits for both parties.