Cryptocurrency exchange Coinbase has teamed up with the Nike Melbourne Marathon, marking the event's first-ever partnership with a cryptocurrency platform. The partnership will allow the 35,000 participants to redeem a 'digital medal' upon completion of the race, certifying their finishing times and providing access to exclusive benefits. This initiative represents the first permanent record of Australian marathon results on the blockchain.

Regional Managing Director APAC and Country Director Australia at Coinbase ,John O’Loghlen, said: "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".

The digital medal holders will not only have their achievements immortalised on the blockchain, but 60 of them will also receive a 'golden trophy', guaranteeing them registration for their choice of distance at the 2025 Nike Melbourne Marathon. The partnership will include a range of activities and experiences before, during, and after the race to showcase the utility of cryptocurrency.

Coinbase, a NASDAQ-listed international cryptocurrency exchange, has previously partnered with major sports organisations and leagues, including the NBA and WNBA. Participants will also be eligible for $20 in Bitcoin after their first Coinbase trade by signing up with the code 'MELBMARA20'.

Event Director of the Nike Melbourne Marathon Festival, Marcus Gale, said: "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".