Bitmain Sponsors NBA’s Houston Rockets
September 24, 2018 4:12 pm
Bitmain, the world’s leading manufacturer of cryptocurrency mining equipment is entering a new business venture. The crypto giant has struck a sponsorship deal with Houston Rockets, the US basketball team.
AntPool is Bitmain’s Bitcoin mining company. It has struck a major sponsorship deal with Houston Rockets for an undisclosed amount for the 2017-2018 season of the National Basketball Association (NBA).
Li Haijiao, Head of Overseas Operations, AntPool said that they decided to sponsor Rockets because it’s the number one team in China. She further commented:
“As the cryptocurrency industry around the globe continues to evolve and develop, it is going to be more and more important for companies like AntPool to lead the conversation and conversation of consumers to adopt and understand digital currencies.”
The popularity of Rockets in China gained its highest prominence when Yao Ming was the first overall pick in the NBA draft from 2002. The team is currently being led by James Harden, the star guard.
Even though Bitcoin is the largest cryptocurrency based on the market cap, there are plenty of people who are yet to jump on to the cryptocurrency bandwagon.
It has been highly apparent that whenever a notable company makes an announcement related to blockchain technology or cryptocurrencies, there is a notable positive movement in the market.
Bitcoin was priced up to $20,000 in December 2017 and its value has dropped to $6,000-$8,000 value in the past few months.
Notably, AntPool will also be setting up an exhibition inside the Toyota Centre. The Centre is the home to the Houston Rockets basketball team. It hasn’t been made clear if the logos of AntPool and BitMain will be placed on the arena’s billboard. This move would potentially provide a visibility to 900 million online Chinese viewers during live broadcasts of the Rockets’ games.