Portland Trail Blazers to Wear NBA's First Crypto Ad Patch (Sorry, PayPal)

The StormX deal is just the latest example of crypto companies going all-in on sports sponsorships.

AccessTimeIconJul 1, 2021 at 4:00 p.m. UTC
Updated May 9, 2023 at 3:21 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Portland Trail Blazers will sport StormX advertising patches on their jerseys thanks to a sponsorship deal between the crypto cashback provider and Oregon's National Basketball Association team.

  • The partnership is both StormX's first with a sports organization and the Trail Blazers' first with a crypto company, according to an emailed announcement Thursday.
  • Notwithstanding PayPal, which is the current patch partner of the Phoenix Suns, StormX will be the first pure crypto firm to have its brand displayed on NBA jerseys.
  • StormX provides an app and Google Chrome extension that earns consumers cash back in crypto on purchases from selected retailers, including Uber, eBay and Microsoft. It also has its own token, STMX.
  • The partnership extends the ongoing crossover between NBA and crypto, following the success of non-fungible token platform NBA Top Shot and FTX's sponsorship of the Miami Heat's home arena.
  • StormX CEO Simon Yu, a longtime Blazers fan, sees NBA exposure as a means of driving mainstream adoption.
  • "The world will start to understand that there's more to crypto and blockchain products outside of trading," he told CoinDesk.
StormX patches will adorn Blazers jerseys starting next season. Biofreeze was the previous sponsor.
StormX patches will adorn Blazers jerseys starting next season. Biofreeze was the previous sponsor.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.