After acquiring the naming rights to the Los Angeles Lakers’ home arena, Crypto.com is now headed to LeBron James’ other home. The cryptocurrency exchange company has partnered with the LeBron James Family Foundation to add Web3 education to the foundation’s I Promise program in Akron, Ohio.
“Blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another,” James said in a statement. “I want to ensure that communities like the one I come from are not left behind. Crypto.com and I are aligned on the need to educate and support my community with the information and tools they need for inclusion.”
Since 2011, I Promise has added 1,600 students (and their families) to its program, which includes the I Promise school. In 2020, LJFF announced a new community hub that would offer job training, among other services. Crypto.com will help develop Web3-specific programming, and will also financially support the foundation as part of a multi-year agreement.
“We couldn’t be more proud to join LJFF in providing opportunities to increase educational and workforce development while delivering the tools and access that will empower the next generation to build a better and more inclusive future,” Crypto.com co-founder and CEO Kris Marszalek said in a statement. Back in LA, Crypto.com previously partnered with Angel City Football Club to “foster financial education.”
Blockchain startups have boomed over the last two years—Marszalek previously said that his company recorded $500 million in revenue between April and June 2021—though a recent slide in cryptocurrency prices has renewed questions about their staying power.
While growing in the US market, exchanges like Crypto.com, Coinbase and FTX have become increasingly engrained in the sports marketing landscape. Outside of southern California, Crypto.com’s sports partners include the Philadelphia 76ers, UFC, F1, Paris Saint-Germain and others. Coinbase is the crypto platform partner for the NBA, while FTX has deals with MLB and the Golden State Warriors.
By Jacob Feldman