The Dallas Cowboys have joined forces with Blockchain.com, making them the first NFL team to have an official cryptocurrency alliance.
The London-based cryptocurrency firm will be the official digital asset partner for the NFL’s most valuable club, the $6.5 billion Dallas Cowboys.
Blockchain, which announced in March that it had raised financing at a $14 billion value, will have unprecedented access to the Cowboys brand.
Given the explosive growth of cryptocurrencies in recent years, the collaboration should come as no surprise.
Jerry Jones, the Cowboys’ owner and general manager, made the announcement at a press conference. The agreement comes at a time when the NFL is easing restrictions on how teams can get engaged in the cryptocurrency industry.
While some have referred to the Cowboys’ transaction as the first formal crypto transaction by an NFL team, this is not exactly correct: The New England Patriots joined with fan token platform Socios in November, although no tokens have been produced as of yet.
In March, the league amended its September interim ban on all crypto and non-fungible token (NFT) transactions, now accepting sponsorship deals that do not entail the marketing of specific cryptocurrencies, including fan tokens.
A Socios deal with 13 NFL teams was announced separately, the Dallas Cowboys is not among the teams involved.
While fans will not be able to use cryptocurrencies at AT&T Stadium just yet, they will be able to gain exclusive fan experiences such as trips to away games and events organised by players.
The league said at the recent owners’ meetings in Palm Beach, Florida, that teams would be able to establish sponsoring partnerships with cryptocurrency companies.
“When you have a chance to really delve into the kind of future that you have in the digital world, I wanted the Dallas Cowboys to be a part of that future in any and every way we could,” Jones said.
According to Blockchain.com, it has over 80 million customers in over 200 countries and has processed over $1.2 trillion in transactions. It was recently valued at $14 billion.
“Over the course of our long-term partnership, our goal is to partner with the Dallas Cowboys on helping the world to understand cryptocurrency,” co-owner and CEO Peter Smith said.
Jones is no stranger to being the first in a new media. The Cowboys were the first team to form a partnership with a casino in 2018, when they joined forces with WinStar Casino and Resort in Thackerville, Oklahoma.