NFT Software Company Chain Inks Four-Year Deal With New England Patriots
Web3 software firm Chain has entered into a four-year marketing deal with Kraft Sports + Entertainment, a sporting subsidiary of Kraft Group, to serve as the “official blockchain and Web3 sponsor” for the New England Patriots, New England Revolution, Gillette Stadium, and Patriot Place.
Chain and Kraft Sports + Entertainment will work together to develop “state-of-the-art Web3 experiences” for Patriots and Revolution fans, according to a press release.
Chain CEO Deepak Thapliyal told Decrypt that “the vision is to be the tech stack and backbone for all the possible verticals for the Kraft organization which includes Patriots, Revolutions, Gillette, etc. to ensure they become the NFL leader in this space.”
“We plan to offer very unique Web3 and NFT integrations for them throughout this partnership,” he said.
Founded in 1998, Kraft Group is a consortium of private corporations which operate within the sectors of sports, manufacturing and real estate markets. (It is not to be confused with the food manufacturers Kraft Foods or Kraft Heinz.)
The Kraft Group purchased the New England Patriots franchise for a record fee of $172 million back in 1994. CEO Robert Kraft has since helped steer the team to six Vince Lombardi trophies from 10 Super Bowl appearances.
In November 2021, the New England Patriots signed a marketing deal with sports token platform Socios in a similar bid to enhance fan engagement through Web3 experiences. It's currently unclear how this deal conflicts, if at all, with the Chain sponsorship.
Active participants of the NFT space will recognize Chain for providing the blockchain infrastructure for luxury jewelry firm Tiffany & Co’s inaugural NFT drop—the 30ETH CryptoPunk necklace pendant. The company's deal with Kraft Group now marks Chain's second big splash of the year.
Thapliyal told Decrypt that Kraft Sports + Entertainment “are very aligned in expanding into blockchain technologies and Web3.”
“As soon as we started talking to their organization we could tell they would be the right organization to work with to help become the leader in the NFL to embrace opportunities within our space,” he said.
Thapliyal revealed that “the deal is a 4 year term with options to renew,” but stated that “we can’t disclose the financial portion of the deal.”