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The NY Giants, an American football team playing in the National Football League (NFL), has signed a deal with Grayscale, a cryptocurrency investment trust, as it continues its slow march into the crypto space. The deal will see Grayscale provide digital currency investment information to the New York Giants, including private briefings about cryptocurrencies and how they work. The deal was signed in order to help the NY Giants with its digital currency investments, while also providing Grayscale with access to the NY Giants’ current and former players, as well as its fan base. This is an important deal for both Grayscale and the NY Giants, and it is interesting to see two mainstream entities like these two making an entrance into the crypto world, with Grays
The New York Giants have partnered with crypto powerhouse Grayscale, launching a new digital collectible asset. The team announced the news on Tuesday, indicating that it will allow fans to buy shares in the team. The partnership will see Grayscale launch a new token—Giants Equity Asset Tokens—which will be backed by equity in the National Football League team.
Grayscale Investments, the world’s largest cryptocurrency asset manager, has announced its first partnership with a National Football League (NFL) team. Grayscale will be the official digital currency management partner of the New York Giants and will sponsor a number of events.
Grayscale Investments partners with the New York Giants
After a number of NBA teams began accepting crypto assets and forming partnerships with cryptocurrency companies, Grayscale Investments announced a partnership with the NFL team, the New York Giants.
Grayscale, a cryptocurrency asset manager with more than $46 billion in assets under management (AUM), will join Giant’s list of corporate sponsors. Additionally, Grayscale will be doing the Giants a favor by becoming the official partner of the digital currency management team.
Grayscale CEO Michael Sonnenschein said at the announcement that the company’s roots are in New York. Our partnership with the Giants makes incredible sense because our roots are in New York, Sonnenschein said.
We are excited to partner with such a forward-thinking franchise, to collaborate on philanthropic initiatives and to continue to support the New York metropolitan community, Mr. Sonnenschein added.
Grayscale’s partnership with an NFL team follows a recent agreement reached by FTX Exchange in late March. FTX has won the right to rename the Miami Heat’s NBA arena to FTX Arena. The deal to rename the Miami arena cost FTX about $135 million, according to the report.
Cryptomanager will work with Giants Foundation
The agreement with Grayscale calls for the crypto asset manager to work with the Giants Foundation, an organization that provides financial support to organizations in the tri-state area. Grayscale is planning a presentation at the upcoming Giants Foundation Golf Show.
Grayscale will also sponsor a home game, sponsor a Giants training camp and host annual volunteer educational seminars on cryptocurrencies for Giants employees, according to the announcement.
Pete Guelli, business manager for the New York Giants, said the team is looking forward to working with the crypto asset manager. In addition, Guelli says the company is aligned with the Giants brand.
Through a comprehensive assessment of the space, we determined that we not only needed a partner who understood the value of working with the Giants brand, but who could also help us navigate the cryptocurrency ecosystem, Guelli said.
What do you think of the partnership between the New York Giants NFL club and Grayscale Investments? Let us know what you think in the comments below.
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