Chain, a blockchain infrastructure company that offers Web3 services to developers to build and maintain blockchain-based applications, will sponsor the New England Patriots football team and other venues and sports clubs controlled by the Kraft Group.
In Thursday’s announcement, Chain he said will be the official blockchain and Web3 sponsor of the Patriots, the New England Revolution football club, Gillette Stadium in Massachusetts and Patriot Place shopping center as part of a multi-year partnership agreement with Kraft Sports + Entertainment, the marketing and events division. Kraft Group. The chain will work to develop Web3 experiences for visitors to Gillette Stadium and Patriot Place by “merging the physical with the digital.”
A spokesperson for the chain declined to comment on the monetary details behind the partnership in an interview with Cointelegraph. They suggested that the Web3 fan experience was associated with the firm “recently [selling] executed a historic NFT project with a global luxury goods retailer.”
Chain said it offers products as a service including Ledger, Cloud and immutable tokens. Firm acquired Measurable Data Token (MDT) and its ecosystem products for $100 million in July, which included blockchain oracle MeFi and cashback app RewardMe.
Much of the reaction from Crypto Twitter to the Patriots sponsorship seemed to be positive, but some interviewed how blockchain technology would contribute to the fan experience.
As an honest, lifelong Patriots fan, I am very excited and happy to see you are embracing web3!
— Trevorwhatever.eth (@Trevorwhatever4) September 22, 2022
Professional sports organizations in the United States and abroad have seen the flow of large funds with crypto sponsorships. Crypto.com signed for $700 million renaming the Staples Center in Los Angeles in 2021, later signing a five-year sponsorship deal with the Australian Football League for $25 million and becoming one of the official sponsors of the FIFA World Cup in Qatar. However, the exchange also allegedly backed out of the roughly half a billion dollar deal with the UEFA Champions League in September.
Cointelegraph reached out to the Patriots but did not receive a response at the time of publication.