The Cleveland Cavaliers have partnered with Socios.com, the global blockchain provider for the sports and entertainment industry, the team announced on Monday.
Initially, the partnership will focus on creating awareness and branding with Socios.com through the Cavaliers' asset platform, Cleveland's NBA team said in a press release.
The direct, team-based fan engagement elements and activations offered by Socios.com still are in the review and development phase, the Cavaliers said.
Beginning with the 2021-22 season, the Socios.com logo will be placed on the front of the Cavs' practice jerseys just below the players' numbers, the team said.
In addition, the blockchain provider will have brand presence in Rocket Mortgage FieldHouse with broadcast-visible LED courtside signage and the ability to use the Cavs marks and logos in their global marketing efforts outside the United States and Canada.
Socios.com is the first Cavaliers partner to leverage this unique branding opportunity under the NBA's International Team Marketing Program, the Cavs said.
The partnership between the Cavs and Socios.com adds another layer to the team’s use of blockchain technology.
Earlier this month, the team launched an NFT (non-fungible token) art collection that features basketball-centric works created by independent artists.
The team also recently partnered with technology company Recur to mint its first NFT, entitled, Cleveland Cavaliers Locker Room. More than 50 of these inaugural NFTs were gifted to corporate partners at a private event, the Cavs said.
"This partnership with Socios.com is another significant step forward as part of our ongoing exploration into blockchain technology and how it can be utilized within our business to grow and enhance fan engagement," said Mike Conley, senior vice president and chief information officer for the Cavaliers and Rocket Mortgage FieldHouse, in the release.
"Socios.com is fast developing into a global fan engagement powerhouse, where passive fans are being transitioned into real players in the day-to-day activities of their favorite teams," said Alexandre Dreyfus, CEO of Socios.com, in the release.
