Web3 infrastructure firm Chain to sponsor Kraft Sports, CEO buys patriots.eth

Web3 infrastructure firm Chain to sponsor Kraft Sports, CEO buys patriots.eth
Web3 infrastructure firm Chain to sponsor Kraft Sports, CEO buys patriots.eth

Blockchain infrastructure firm Chain, which builds and maintains blockchain-based applications for developers, has inked a four-year agreement with Kraft Sports + Entertainment. 

Per the agreement, Chain will serve as the “official blockchain and Web3 sponsor” for the New England Patriots, New England Revolution, Gillette Stadium, and Patriot Place. The company will also help develop innovative web3 experiences utilizing its suite of products and services for Kraft Sports. 

“Our team is excited to help Kraft Sports + Entertainment build cutting edge experiences for stadium visitors utilizing Chain’s proprietary blockchain technology,” said Chain’s CEO Deepak Thapliyal. 

Kraft Sports + Entertainment is part of the Kraft Group, a consortium established in 1998 with diverse business interests in sports, manufacturing, and real estate. Based out of Foxborough, Massachusetts, the firm manages National Football League’s (NFL) New England Patriots and the Gillette Stadium. 

In 1994, The Kraft Group acquired the New England Patriots team for a then record fee of $172 million. Since then, the franchise has won six Vince Lombardi trophies from a total of 10 Super Bowl appearances.

“Together with Chain, we’ll look to innovate that same way with their cutting-edge blockchain technology. Our fans will be able to connect with the Patriots and Revolution in ways never before possible,” said Murray Kohl, Vice President of Sales for Kraft Sports + Entertainment.

Kraft also inked a deal last year in November with fan token creator Socios.com to drive fan engagement through the platform. It’s still unclear how the two deals will work in tandem. 

patriots.eth sells for $100k

Following the news, Thapliyal, also an NFT enthusiast and collector, purchased the ENS domain patriots.eth for 75 ETH (approx $100k).

In March, the NFL allowed franchises to sign sponsorship deals with blockchain firms but maintained restrictions on promoting specific cryptocurrencies and fan tokens. 

For Chain, which has also provided blockchain infrastructure for Tiffany & Co, things might not be as straightforward in the absence of fan tokens. 

Disclaimer
All articles published on Coinmash are strictly for informational purposes only. Any action that is taken from reading content published on this website is done at your own risk. 

About the Author
Himan Mohapatra
Himan Mohapatra
Himan Mohapatra is an industry expert within the crypto-sphere and the primary journalist for Coinmash. He is passionate about finance and disruptive tech, such as blockchain. One can find him playing Valorant or FIFA when away from his desk.