24 June 2021
Grayscale Investments, the world’s largest cryptocurrency asset manager, has formed a partnership with the National Football League (NFL) team. Grayscale will be the “Official Digital Currency Asset Management Partner” for the team.
The firm will sponsor upcoming events like home games, the Giants Foundation Golf Outing, and the Giants Training Camp. Grayscale will also host educational seminars on cryptocurrency for team personnel every year. Giants Chief Commercial Officer Pete Guelli detailed that Grayscale will guide it “in navigating the cryptocurrency ecosystem,” adding that the firm “has the institutional knowledge and network of partners that we can access as crypto continues to evolve.”
However, it is still unclear how the New York Giants will use cryptocurrency, whether they will invest in Bitcoin or accept it as a means of payment.
Grayscale noted in its announcement that it is the first cryptocurrency business to partner with an NFL team. However, in 2019, the Miami Dolphins had partnered with Aliant Payments and the Litecoin Foundation. That partnership allowed users to buy tickets with Litecoin.
Also, several players have taken payment in cryptocurrency including Matt Barkley (the Buffalo Bills) and Russell Okung (the Los Angeles Chargers), and Trevor Lawrence (the Jacksonville Jaguars). Meanwhile, an internal memo also suggests that NFL executives are in “active discussions” with potential partners on non-fungible tokens (NFTs) or crypto collectibles.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.