Kevin Durant of the National Basketball Association (NBA) has signed a new partnership with Coinbase, a crypto exchange based in the United States, to become the “face of the company.”
Durant has struck a strategic agreement with Coinbase, according to Decrypt, citing Bloomberg as the source. The partnership will feature a mutual type of promotion. Coinbase will host crypto-based adverts and sponsored content on Durant’s sports website Boardroom in exchange for becoming the exchange’s face. The corporation will also contribute to Durant’s youth-focused philanthropic foundation.
Rich Kleiman, Durant’s manager, stressed the importance of the arrangement, saying that the NBA star does “very few brand partnerships.”
More so, Bloomberg quoted Kleiman as saying,
“They’re this new model of brand partner for us, where they do integrate in all different parts of our business. “
Durant expresses his enthusiasm for the new contract, noting that he always has interest in the “business side of things.” In 2017, the Brooklyn Nets player invested in Coinbase through Thirty Five Ventures, his joint venture with Kleiman.
Infinite Acquisition Corp., a new Special Purpose Acquisition Company (SPAC) founded by the two, was created in November with a focus on investing in crypto ventures as well as the sports business, health and wellness, and e-commerce.
So, In a recent SEC filing, Infinite stated its interest in cryptoassets:
“These technologies make the internet ownable, providing new ways to reward and compensate creators for their work allowing unbound creativity.”
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