FTX’s U.S. branch makes another big move to expand the firm’s presence within the sports industry.
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FTX can’t stop partnering with major sports teams.
The leading crypto exchange’s U.S. arm announced it had signed a sports marketing deal with Monumental Sports and Entertainment Monday, following a string of other high profile partnerships in the sports sector.
Monumental Sports and Entertainment is one of Washington D.C.’s largest sports companies, overseeing the NBA’s Washington Wizards, the NHL’s Washington Capital, and the WNBA’s Washington Mystics. It also owns Capital One Arena, the home venue for the three teams.
Though full terms of the deal were not disclosed, the agreement makes FTX U.S. the firm’s crypto exchange partner and exclusive NFT partner.
The MSE partnership is not the only sports marketing deal the FTX brand has signed this year. Only last week, FTX U.S. linked up with the Golden State Warriors in a $10 million deal. It’s also partnered with college football and basketball teams and, perhaps most notably, paid $135 million to get the naming rights to Miami Heat’s stadium for the next 20 years. The exchange also reached an agreement to feature on MLB umpire jerseys and has enlisted Tom Brady, Shohei Ohtani, and Bored Ape Yacht Club member Stephen Curry as official ambassadors.
While FTX was the first crypto exchange to make a big splash in the sports industry, others have followed their lead this year. Crypto.com bought the naming rights to LA’s Staples Center in a mammoth $700 million deal last month, adding to its partnerships with UFC and Formula 1. Coinbase has also sponsored the NBA and last week joined forces with Kevin Durant for an ambassador deal.