FTX US announces partnership with four Washington DC sports teams
Monumental Sports and Entertainment (MSE), the company behind four of the major Washington D.C.-based professional sports teams, has recently announced that FTX US would now be its official crypto exchange and NFT partner.
The announcement was made on December 20 where MSE declared that as a part of a multiyear deal, FTX US would be the official crypto partner of the Washington Capitals hockey team, Washington Mystics women’s basketball team, the Washington Wizards men’s basketball team, as well as the Capital City Go-Go basketball team.
As per MSE, FTX US’ NFT platform would hold have exclusive rights to future token drops by all the four teams, and the exchange would also partner for an in-game highlight series, dubbed “Big Block-Chain.”
Chief Commercial Officer and President of Business Operations at MSE, Jim Van Stone, has stated that the integration of blockchain technology with sports experience “has only just begun,” and the firm looks forward together with its partners “to advance to an entirely new frontier.” The upcoming developments in this arena, he said, would “ignite” fans beyond what they usually imagine today.
This is the latest collaboration in a series where the FTX US and major sports franchises portfolio are concerned.
In March 2021, FTX had reached a $135-million agreement for securing naming rights for the home stadium of the Miami Heat’s, which, according to the deal, would be called the FTX Arena until at least 2040.
The firm has also become the official sponsor of Major League Baseball since June and has partnered with the University of Kentucky for allowing its Wildcats men’s basketball team to be the brand ambassadors.
FTX, which has the reputation of being one of the world’s biggest cryptocurrency exchanges, amounts to a valuation of $25 billion following a $420 million funding round in October 2021.
The company has also launched its NFT marketplace for American customers this September.