The New York Giants did an evaluation of the crypto space before concluding in collaborating with Grayscale.
The world’s largest cryptocurrency asset manager, Grayscale has recently announced a partnership with the American football team The New York Giants. Grayscale has now become the first crypto partner of an NFL team. Also, the partnership makes Grayscale the Official Digital Currency Asset Management Partner of the American football team.
Grayscale and New York Giants Announce Partnership
The New York Giants and Grayscale announced the new partnership in a press release on the 5th of May. Grayscale will be the Presenting Sponsor of The Giants Foundation Golf Outing. The role is part of being a partner as the Official Digital Currency Asset Management Partner of the NFL team.
In addition to the roles of Grayscale following the partnership, the digital asset manager will be a Supporting Sponsor of Giants Training Camp. Also, the management firm will be a Presenting Home Game Sponsor. Furthermore, Grayscale will provide voluntary educational seminars on cryptos for Giants personnel every year, under the terms of the deal.
According to Grayscale CEO Michael Sonnenshein, the partnership is important to the company because Grayscale is rooted in New York.
Speaking further, Sonnenshein expressed his excitement with the Giants. He referred to the New York Giants as “a forward-thinking franchise, to work together on philanthropic initiatives, and to continue to support the New York metropolitan community.”
Additionally, the chief commercial officer of New York Giants, Pete Guelli, also commented on the joint venture. Noting Grayscale as an innovative leader in the crypto space, Guelli also expressed satisfaction with the latest development. He noted that the company did an evaluation of the crypto space before concluding in collaborating with Grayscale. According to Guelli, the New York Giants desired to partner with a company with similar values. Also, the New York Giants wanted a partner that could help in “navigating” the crypto market.
“Grayscale quickly emerged as a company that shares our passion for the New York market but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve.”
Grayscale Joins other Crypto Firms in Partnering with Sport Teams
Notably, Grayscale is globally known as a digital asset manager with a huge sum of assets under management (AUM). As of the 30th of April, records showed that Grayscale has over $46.65 billion in AUM.
In March, Crypto.com also signed a sponsorship deal with the National Hockey League’s Montreal Canadiens. The sponsorship marks the first of its kind for the Montreal Canadiens.
Also, the deal signifies the continuous partnerships of professional sports and crypto firms.
Before the crypto.com and Montreal Canadiens’ deal, there were reports that crypto exchange FTX was working to purchase naming rights to the arena of the NBA’s Miami Heat. Eventually, the crypto exchange secured the naming rights for $135 million, representing the first occurrence of a crypto business sinning the naming rights to a major professional sports venue in the US.
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