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Trail Blazers Announce New Jersey Sponsor

StormX, a cryptocurrency startup, takes over.

Detroit Pistons v Portland Trail Blazers Photo by Abbie Parr/Getty Images

The Portland Trail Blazers have announced that they will have a new jersey sponsor starting in the 2021-22 season. StormX, a cryptocurrency startup out of Seattle, will take over the sponsorship. It is the first partnership with a cryptocurrency company in the NBA.

According to Taylor Soper of GeekWire, the deal includes more than a jersey patch.

StormX didn’t reveal specific financials but said it signed an eight-figure contract that also includes in-arena branding and the rights to be the “exclusive blockchain partner of the Portland Trail Blazers.” It also has rights to distribute and conduct team-identified marketing internationally.

StormX’s primary product is an app that gives users cryptocurrency rewards for shopping with partner retailers.

“We are extremely excited to have our team wear such a groundbreaking, revolutionary company on the front of our jerseys,” said Chris McGowan, President & CEO, Portland Trail Blazers and Rose Quarter, via press release. “StormX is a fresh, energetic company with Pacific Northwest roots that can educate and motivate Rip City around cryptocurrency and earning Crypto Cashback. I look forward to taking these next steps together as partners.”

You can read more about the partnership here.