FTX, one of the largest exchange platforms, is keen on attracting new clients through sports partnerships. The exchange has made heavy investments in sporting leagues, teams and stadiums, and this venture does not seem to be slowing down.
Monumental Sports and Entertainment (MSE) has announced that FTX US will be its official partner for its teams, including Washington Capitals, Wizards, Mystics and Capital City Go-Go.
Signs multi-year deal with MSE
Through this deal, FTX US will be the first partner for MSE in the cryptocurrency sector. The two parties have signed a multi-year deal that will boost FTX’s brand awareness among the fans of the four teams.
As mentioned earlier, FTX will be the official non-fungible token (NFT) partner for MSE. As such, the FTX US NFT platform will gain access to exclusive rights for any future NFTs released by MSE.
FTX will also feature in-game highlights through the “Big Block-Chain” campaign. This campaign will promote FTX via in-game announcements, arenas and social media. This will boost the exposure of the FTX US brand among fans.
Jim Van Stone, the President, Business Operations & Chief Commercial Officer, commented on this, stating, “Monumental Sports & Entertainment is thrilled to be working with FTX to bring the leading cryptocurrency exchange to the most loyal and sophisticated fans in the country.”
“The integration of blockchain technology with the sports experience has only just begun, and together we are going to advance to an entirely new frontier which will ignite fans beyond what they can even imagine today,” he added.
FTX seeking growth through sports
The MSE partnership is just one of the many that this exchange has bagged this year to boost its brand awareness. One of the greatest sports deals that the exchange has secured this year was in March when it signed a $135 million agreement to gain naming rights to the Miami Heat stadium, which has since been renamed FTX Arena.
The exchange also became the first crypto exchange to secure a deal with a baseball league. This was after signing a sponsorship for Major League Baseball. The exchange also signed the Wildcats men’s basketball team from the University of Kentucky to be its brand ambassadors.
The exchange has also been expanding its business operations. In September, the exchange unveiled an NFT marketplace for its US customers. In October, the exchange raised $420 million from a funding round, which increased its valuation to over $25 billion.
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