April 19, 2024
University of Miami Athletics Partners with Helium Mobile
Latest Cryptocurrency News

Helium Mobile Secures Official Sponsorship with University of Miami Athletics

Helium Mobile, a wireless phone service utilizing the decentralized Helium network driven by cryptocurrency, has officially become the wireless sponsor of the University of Miami Athletics, as revealed by the joint announcement from the company and the school on Wednesday. In this partnership, Helium Mobile will organize promotional activities and enhance fan experiences during the Miami Hurricanes’ home games across various sports.

The agreement encompasses undisclosed offers specifically tailored for students. The sponsorship’s kickoff event will take place at the Miami vs. Notre Dame men’s basketball game on December 2, where Helium Mobile will serve as the game’s primary sponsor. This deal remains valid for the entirety of the ongoing 2023–24 collegiate season. While Helium Mobile’s representative disclosed it as a six-figure agreement, precise financial details were not provided.

Earlier in August, Helium Mobile introduced a $5 per month unlimited phone plan in Miami, utilizing its network of hotspots managed by users who earn cryptocurrency tokens for participating in the network. Helium Mobile’s network is complemented by T-Mobile’s nationwide 5G coverage, which is utilized when users are out of hotspot range.

Frank Mong, Chief Operating Officer of Nova Labs, the creator of Helium Mobile, highlighted, “We know how tight budgets can be and partnered with the University of Miami to help students, faculty, staff, and fans have a more affordable phone plan in their city.”

In the past, crypto companies actively engaged in sponsoring sports teams and leagues during the growth of the industry in 2021 and 2022. However, such engagements decelerated following last year’s crypto market crash, particularly after the November 2022 collapse of crypto exchange FTX, a leader in sports alliances with Major League Baseball, the Miami Heat, and Tom Brady, among others.

Though fewer in number, crypto sponsorship agreements persisted in 2023. For instance, Sui network creator Mysten Labs partnered with prominent F1 team Oracle Red Bull Racing, while crypto exchange Kraken sponsored F1 team Williams Racing. Additionally, existing soccer club deals with exchanges like AC Milan with BitMEX and Manchester City with OKX were extended. Nevertheless, the influx of new crypto sponsorship deals with sports teams has significantly decreased.

Helium operates as a decentralized “network of networks,” incentivizing user participation in running wireless nodes through crypto token rewards. Initially established on its blockchain, Helium transitioned to Solana earlier this year following a community vote in 2022. The original Helium network allowed users to share their home or business Wi-Fi via hotspots, providing connectivity to nearby Internet of Things (IoT) devices like sensors and trackers.

Recently, the Helium 5G network launched, catering to devices such as smartphones and laptops. Nova Labs, the startup comprising the original Helium creators, developed the Helium Mobile service atop this network and collaborated with T-Mobile to offer nationwide connectivity throughout the United States.

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