Blockchain infrastructure solution firm Chain, has inked a partnership deal with Kraft Sports + Entertainment, which is part of the Krafts Group, to become the official blockchain and Web3 sponsor of New England Revolution, and England Patriots.
Chain Inks Multi-Year Sponsorship Deal
In an official statement on Thursday (September 22, 2022), Chain’s multi-year deal with the Krafts Group subsidiary makes the company the blockchain sponsor of New England Patriots which competes in the National Football League (NFL), New England Revolution which competes in the Major League Soccer (MLS), their stadium Gillette Stadium, and outdoor shopping center Patriots Place.
According to the announcement, the collaboration will work together to establish “state-of-the-art Web 3 experiences” for fans of the New England Patriots and New England Revolution. Chain also said that it would assist the Gillette Stadium in navigating and adapting Web3.
Commenting on the partnership, Chain CEO Deepak Thapliyal, said:
“We are proud to partner with Kraft Sports + Entertainment to envision the future of Web3 for Gillette Stadium, the New England Patriots and New England Revolution. Our team is excited to help Kraft Sports + Entertainment build cutting edge experiences for stadium visitors utilizing Chain’s proprietary blockchain technology.”
Vice President of Sales for Kraft Sports + Entertainment, Murray Kohl, also said:
“The Patriots and Revolution, along with our tech partners, have always strived to be leaders in innovation. From being the first pro sports team with a website and creating the first nightly Internet show, to having the longest continuously running podcast in the world, we’ve embraced the opportunities that advances in technology have presented for us and our fans.”
“Together with Chain, we’ll look to innovate that same way with Web3. Our fans will be able to connect with the Patriots and Revolution in ways never before possible.”
Krafts Sports + Entertainment which is part of the Krafts Group, manages content development, marketing, event operation, and sales for Gillette Stadium, and both New England soccer teams.
Crypto and Sports Partnership Reduce Amid Bear Market
The latest development continues the collaboration between crypto firms and sports teams. Blockchain.com became the digital asset partner of NFL’s Dallas Cowboys in April 2022.
Major cryptocurrency company Crypto.com, inked several sponsorship deals with sports entities. In March, Crypto.com became the official sponsor of the upcoming FIFA World Cup in Qatar. Back in November 2021, the crypto exchange signed a 20-year naming agreement to rename the Staples Center to Crypto.com Arena.
However, the Singapore-headquartered crypto exchange platform recently backed out of a $495 million deal with the UEFA Champions League (UCL). The firm was supposed to replace Russian gas company Gazprom, which terminated the deal in March following Russia’s invasion of Ukraine.
Meanwhile, there seems to be a reduction in the number of sponsorship deals between crypto firms and sports teams, as a result of the ongoing crypto winter. According to a report in June, some companies who earlier linked massive deals with major sports franchises are looking to cut costs to cope in the bear market.