Football team adds world’s biggest crypto asset manager to roster of corporate sponsors as sector firms make inroads into sports.
The New York Giants have announced an exclusive partnership agreement with digital currency asset manager Grayscale Investments, which had $46.6 billion of assets under management as of April 30.
The arrangement, a first in the US National Football League, will see the team tap Grayscale’s crypto industry expertise and its network of partners in the sector.
Grayscale will immediately gain a presence at several major upcoming events as the Giants’ newest corporate sponsor, including a role as presenting sponsor of The Giants Foundation Golf Outing and of Giants home games for 2021, and sponsorship of the Giants Training Camp.
Grayscale CEO Michael Sonnenshein said in a statement, “Our partnership with the Giants is incredibly meaningful because our roots are in New York. We’re excited to partner with such a forward-thinking franchise, to work together on philanthropic initiatives, and to continue to support the New York metropolitan community.”
New York Giants Chief Commercial Officer Pete Guelli explained that the choice of Grayscale as a partner had been fueled not only by the team’s search for a new sponsor but also by its desire to understand cryptocurrencies.
He said, “During our extensive evaluation of the space, we determined that we not only wanted a partner that understood the value of aligning with the Giants brand but also could guide us in navigating the cryptocurrency ecosystem.
“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.”
Cryptocurrencies and digital assets have been gaining a steadily higher profile in the sporting world. On Wednesday, two-time world heavyweight champion boxer Tyson Fury announced a partnership with HoDooi.com to launch his brand in the market for non-fungible tokens.