Grayscale Investment becomes a partner of the New York Giants team and once again brings bitcoin into the world of the NFL.
Grayscale is the first partner in the world of cryptocurrency to join the US National Football League.
The partnership sees Grayscale as the sponsor of the Giants Foundation Golf Outing. This is the “branch” of the New York Giants that provides financial assistance and is also socially committed to issues such as health and youth education. Grayscale will also be a Presenting Home Game Sponsor and host seminars on cryptocurrencies for team personnel.
It will be a collaboration aimed at giving back to the city of New York. This was stated by Grayscale CEO Michael Sonnenshein:
“Our partnership with the Giants is incredibly meaningful because our roots are in New York. We’re excited to partner with such a forward-thinking franchise, to work together on philanthropic initiatives, and to continue to support the New York metropolitan community”.
New York Giants Chief Commercial Officer Pete Guelli added:
“We are excited to partner with Grayscale, who are innovative leaders in the digital currency market. During our extensive evaluation of the space, we determined that we not only wanted a partner that understood the value of aligning with the Giants brand, but also could guide us in navigating the cryptocurrency ecosystem. Grayscale quickly emerged as a company that shares our passion for the New York market but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve”.
Bitcoin in the NFL, with and without Grayscale
This is a particularly good time for Grayscale. The partnership in the NFL will give it even more popularity and help drive the growth of Bitcoin.
The company is approaching $50 billion in assets under management. Of that, as much as $36.4 billion is in the Grayscale Bitcoin Trust and $10 billion is in the Ethereum Trust.
Although this is the first official partnership in the world of football, Bitcoin has actually already landed in the NFL. In fact, there are at least two players who have chosen to be paid in BTC. Russell Okung, star of the Carolina Panthers, announced in December that half of his $13 million annual salary will be paid in BTC. More recently, Sean Culkin of the Kansas City Chiefs made it known that his entire $920,000 salary will be paid in bitcoin.
This confirms that bitcoin and the sports world have begun a long-lasting partnership.