The Giants brought the NFL into a new wave of deal-making Wednesday by
partnering with Park Avenue-based Grayscale Investments on the league’s
first cryptocurrency sponsorship.To get more
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Financial terms of the deal were not disclosed, but Grayscale,
which manages more than $46 billion in assets, will be the presenting
sponsor of The Giants Foundation Golf Outing. Founded in 1993, The
Giants Foundation provides financial assistance to tri-state area
community-, health- and youth-focused organizations.
Grayscale sells securities that include Bitcoin and other
digital currencies. Giants star Saquon Barkley is part of the movement
of athletes investing in Bitcoin. Russell Okung made NFL history as the
first player to receive half of his $13 million salary in Bitcoin from
the Panthers (through a third party) in 2020.
“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,” Giants chief commercial officer Pete Guelli
said in a statement. “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.”
Grayscale also will be a presenting sponsor of home games and a
supporting sponsor of training camp. This mark’s the company’s first
partnership with a sports team, according to Sports Business
Journal.“Our partnership with the Giants is incredibly meaningful
because our roots are in New York,” Grayscale CEO Michael Sonnenshein
said. “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.”
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