NFL Patriots Partner with Web3 Blockchain Firm Chain, CEO Buys Patriots.eth for $99,000

Blockchain infrastructure company Chain has announced a new sponsorship deal with the National Football League (NFL) New England Patriots, and the New England Revolution.

Under the terms of the new four-year deal, Chen will partner with Kraft Sports + Entertainment to create innovative Web3 experiences for visitors to Gillette Stadium, home of the New England Patriots and the New England Revolution.

“We are proud to partner with Kraft Sports + Entertainment to envision the future of Web3 for Gillette Stadium, New England Patriots and New England Revolution. Our team is excited to help Kraft Sports + Entertainment build cutting-edge experiences for stadium visitors using Chain’s blockchain technology,” said the CEO of Kraft Sports + Entertainment. Chain, Deepak Thabeliel.

Kraft Sports + Entertainment is part of a consortium, The Kraft Group, a group of private companies with business interests in professional sports, manufacturing and real estate development, headquartered in Foxboro, Massachusetts. The company manages sales, marketing, content development, and event operations for Gillette Stadium and the two New England sports teams. He bought the New England Patriots in 1994 and was a co-founder of the New England Revolution football team.

In November 2021, Kraft signed a deal with Socios.com to provide New England Patriots fans with a way to win prizes for answering game-related questions during each week of the football season.

Chain CEO buys patriots.eth ENS domain, NFL domain first

Following the announcement, Thapliyal purchased the Ethereum Name Service (ENS) domain Patriots.eth for 75 ETH ($99,321.75). ENS domain names map human-readable domain names to cryptocurrency addresses, content hashes, and certain types of metadata in a Web3 environment. They can be traded as non-perishable tokens on secondary markets such as OpenSea. a lot of Twitter feelings The surroundings for the new agreement came from owners of ENS domains.

Notably absent from the announcement is the mention of fan codes launched by other sports teams through Socios.com to give holders access to exclusive fan merchandise and experiences. The omission is likely due to the 2022 ruling by the NFL that allowed teams to secure blockchain sponsorship for up to three years, provided that teams did not promote specific cryptocurrencies and fan tokens.

Following the NFL ruling, the Dallas Cowboys became the first NFL team to sign a sponsorship deal with a crypto company in April. The agreement with cryptocurrency exchange Blockchain.com includes trademarks and advertising.

Thapliyal owns BAYC and CryptoPunk NFTs

An avid NFT collector, Thapliyal owns the domains Deepak.eth and nerev.eth, along with NFTs from premium groups such as Bored Ape Yacht Club.

In February 2022, Be[In]Crypto reports that Thapliyal has purchased CryptoPunk #5822, another blue chip NFT, for $23.7 million in ETH using DeFi protocol synthesizer.

The financial terms of the deal were not disclosed.

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