Crypto brokerage scores NBA sponsorship
Voyager Digital works with Mark Cuban's Dallas Mavericks on international sponsorship
The NBA’s Dallas Mavericks are making a Canadian digital asset broker their first international sponsor.
The Mark Cuban-owned, 2011 championship team announced Voyager Digital Assets as the franchise’s first cryptocurrency partner.
“I’m a customer, I have been a customer for several months now, I like to use (the Voyager app). It’s easy, it’s cheap, it’s fast and the price is actually pretty good,” Cuban said. “I find it as a perfect fit for our Mavs’ fans.”
The NBA granted teams the right to flog international sponsorships, outside US and Canada, in 2019. In the announcement, the parties said they will work to promote cryptocurrency domestically and internationally through fan engagement and via naming rights to the Mavs Gaming Hub for the Dallas NBA 2K League team.
The Mavs Gaming Hub was the venue for the live-streamed 27 October announcement featuring Cuban and Voyager co-founder and CEO Steve Ehrlich.
Ehrlich is a former ETRADE vice-president. The company claimed 2 million users as of 7 September with $30m operating profit on $60m revenue in the third quarter. It now trades on the TSX under the symbol VOYG.
He said the Mavericks' deal was the company’s first foray into sports sponsorship. He said the Mavericks were ideal because they are in Texas, which is becoming a “crypto hub,” and because of Cuban himself.
“This guy here, who is a leader in the cryptocurrency space. He’s out there talking about different coins, engaging with different communities,” Ehrlich said, pointing to Cuban on his right at the event.
“To use a basketball phrase as part of this, we’re still in the first half of the first quarter in teaching people about cryptocurrencies. It starts in Dallas, right now, with us teaching people about decentralised finance, cryptocurrencies, non-fungible tokens.”
The company is headquartered in New York, but incorporated in British Columbia. Voyager also maintains a subsidiary called Coinify ApS that offers crypto payment solutions.
In September, Voyager signed an endorsement deal with Rob Gronkowski of the NFL’s reigning Super Bowl champion Tampa Bay Buccaneers.