The NBA’s Cleveland Cavaliers to Collaborate With Blockchain Firm

The NBA's Cleveland Cavaliers to Collaborate With Blockchain Firm

On July 26, and the NBA team, the Cleveland Cavaliers, revealed a new partnership. The Socios company is a blockchain project that allows fans to become “superfans” by letting them influence “club-specific decisions, trade digital items, and access VIP experiences.” Socios says that currently the “team-based fan engagement elements and activations” tethered to the Cavaliers is still under review. However, Socios will leverage the Cavaliers global asset platform to boost brand awareness.

For instance, in the upcoming 2021-22 NBA season, the logo will be featured on the Cavs’ practice jersey just below the player’s number. Socios will also have access to offering brand presence using the in-venue with broadcast-visible LED courtside signage. Socios says the company is the Cavaliers’ first partner to “to leverage this unique branding opportunity.”

“This partnership with is another significant step forward as part of our ongoing exploration into blockchain technology and how it can be utilized within our business to grow and enhance fan engagement,” Mike Conley, the Cavaliers’ chief information officer said. “We share with a mutual passion and drive for innovation and we are excited about the opportunities this relationship will bring as it continues to evolve into the future,” he added.

The news concerning the partnership between Socios and the Cavaliers follows the recent collaboration announcement between Socios and the Boston Celtics. Socios revealed a partnership with the Boston basketball team during the first week of July. The partnership with the Celtics also gives Socios marketing rights like becoming the Celtic’s presenting partner of the team’s website.

The deal between the Cavaliers and Socios is part of the company’s growth expansion in the United States. The announcement emphasizes that Socios is planning to increase the company’s presence in Europe, Asia, and South America in order to collaborate with the “world’s leading sporting properties.

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What do you think about the partnership between Socios and the Cavaliers? Let us know what you think about this subject in the comments section below.

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