International cryptocurrency exchange Coinbase has announced a first-of-its-kind partnership with the 2024 Nike Melbourne Marathon Festival. The one-year deal will see the event leverage Coinbase’s innovative blockchain-powered technology to redefine and reimagine how participants and fans experience the race.
The partnership marks the first cryptocurrency platform partnership for the Nike Melbourne Marathon Festival and will consist of unique content, innovations, activations and experiences before, during and after the race to showcase the utility of crypto. One initiative includes the launch of race-specific digital collectibles to allow 35,000 participants to own a piece of the 2024 race.
The initiative will see Coinbase utilise proprietary event and runner information, including performance metrics such as official race times, digital medal and runner bib. The data will be integrated and securely stored on the Base network, blockchain programming empowered by Coinbase. Participants will be able to redeem a collectible ‘digital medal’ that will allow them to certify their finishing times and access exclusive benefits upon completion of the race.
“This partnership is the first of its kind in Australia, marking the first time that runners in Australia can immortalise their achievements in an unalterable way on blockchain,” said John O’Loghlen, regional managing director APAC and country director Australia. “We’re proud to support the nation’s biggest races and to use the power of Web3 technology to make these moments even more meaningful and memorable for fans and participants, and provide tangible value.”
The digital medal, which participants can access as a personalised link post-race to set up a self-custody wallet on Coinbase, works as an access key to different benefits. Of the digital medal holders, 60 people will receive a ‘golden medal’ which will provide them with a guaranteed registration for their choice of distance at the 2025 Nike Melbourne Marathon Festival.
“Coinbase is a trusted cryptocurrency platform used by millions globally and we’re excited to partner with them to provide a new way for runners to interact, engage and celebrate their race day achievements,” said Marcus Gale, Event Director of the Nike Melbourne Marathon Festival. “For the first time ever, people will have a personalised and enduring digital memento of their results using this ground-breaking technology.”
Coinbase has partnered with a number of major sports organisations and leagues over the years, including being the exclusive cryptocurrency platform partner for the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA). The partnership with the Nike Melbourne Marathon Festival builds on this success in helping to educate sports fans and participants about developments in cryptocurrency and how it can be used in everyday life.
Participants will also be eligible for $20 in Bitcoin after their first Coinbase trade by signing up with the code “MELBMARA20”, designed to give them a safe and secure platform to engage with the crypto economy.
