Share this article

Portland Trail Blazers, a leading NBA team, has announced a partnership with crypto cashback app StormX. 

StormX Announces NBA Partnership

StormX is partnering with Portland Trail Blazers, it was announced Thursday.

According to a press release shared with Crypto Briefing, the NBA team will feature StormX’s logo on their match and training jerseys and provide exclusive marketing rights to the crypto cashback provider.

Source: Bruce Ely for Portland Trail Blazers

StormX is an app and Google Chrome extension that offers crypto cashback for shopping with popular brands like Nike, Samsung, eBay, and Microsoft. It currently offers cashback in Bitcoin, Ethereum, Litecoin, DAI, Yearn Finance, and StormX’s native token STMX. 

 Chris McGowan, president and CEO of Portland Trail Blazers and Rose Quarter, said of the partnership:  

“We are extremely excited to have our team wear such a groundbreaking, revolutionary company on the front of our jerseys. StormX is a fresh, energetic company with Pacific Northwest roots that can educate and motivate Rip City around financial wellness and independence.” 

It’s the first instance of an NBA team adding a crypto-centric firm as its prime sponsor. 

Nevertheless, NBA’s association with crypto is nothing new. Players like Spencer Dinwiddie have strongly backed the crypto movement through partnerships and promoting crypto as a salary option. Furthermore, NBA Top Shot, the NFT game for trading purchase rights to iconic NBA moments, has become popular among NFT and basketball fans alike. The cryptocurrency exchange FTX has also broken into the field in recent months, signing a 19-year, $135 million sponsorship deal with Miami Heat. 

StormX’s business model is similar to the online shopping tool, Honey. Companies like Honey earn from the affiliate companies whose products they sell. These firms also provide an optimized shopping experience for users across various brands, along with discounts and cashback offers.

StormX allows customers to receive crypto cashback rewards on their online shopping by enabling a Google Chrome extension. Another incumbent in the space is Lolli, which offers exclusive Bitcoin rewards.

The promotion of crypto payments is favorable for online brands looking to save on costs paid to bank partners and payment processors like VISA, which range between 1 and 3% on all purchases. 

Honey’s venture capitalist Plug and Play Ventures purchased early stakes in StormX by leading a $6.03 million fundraise in April this year.

This news was brought to you by Phemex, our preferred Derivatives Partner.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

STORM Prices Triple as StormX Token Swap and Rebrand Go Live

Micro-tasking platform StormX saw its STORM token triple in price after it announced a token swap and app rebrand. StormX is a micro-tasking platform that allows users to fill out…

FTX Will Likely Get Naming Rights to Miami Heat’s Arena

Crypto exchange FTX will likely gain the naming rights to the Miami Heat’s sports arena, according to the Miami Herald. FTX Buys Stadium Rights Over the past several weeks, FTX…

What is Polygon (MATIC): Ethereum’s Internet of Blockchains

In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…

eBay Shoppers Can Now Earn Free Bitcoin This Christmas

Bitcoin rewards application Lolli has added eBay to its list of partner stores, offering 1% cash back rewards in BTC for online purchases on eBay.  Lolli Incentivizes Bitcoin Lolli is…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *



On this website we use first or third-party tools that store small files (cookie) on your device. Cookies are normally used to allow the site to run properly (technical cookies), to generate navigation usage reports (statistics cookies) and to suitable advertise our services/products (profiling cookies). We can directly use technical cookies, but you have the right to choose whether or not to enable statistical and profiling cookies. Enabling these cookies, you help us to offer you a better experience.