Spectators in FTX Arena of Miami Heat Games handed $500 in crypto at the season opener

Spectators in FTX Arena of Miami Heat Games handed $500 in crypto at the season opener



FTX, the major cryptocurrency exchange, has recently given $500 in crypto to every single spectator sitting in a particular section of the FTX Arena at the Miami Heat season opener game on October 21, played against the Milwaukee Bucks. 


In addition to the crypto giveaway, every single fan seated in the stadium also received a T-shirt having a QR code that gave them access to an exclusive ‘Opening Night FTX Arena NFT’. 


With this new move by FTX, fans are left to wonder whether this free crypto giveaway is a regular gig at the Miami Heat games as speculations on social media run amock that a different section at each game would be given crypto in every game.


Messari’s founder Ryan Selkis made some back of the envelope calculations, determining that with 21,000 spectators seated in the arena, and about 80 seating sections, the giveaway would cost approximately $150,000 — which is a pretty great move as the stunt has won over social media.


In April 2021, FTX had paid about $135 million for renaming the Miami Heat NBA arena as the FTX Arena for the upcoming 19 years, which is a bold move considering the company has been launched only two years back.


A 3-time NBA Champion, Udonis Haslem, and a Miami Heat legend were also announced as the ambassador for FTX’s campaign “You In, Miami?” 


FTX has also revealed its plans to work closely with Haslem for promoting crypto within the greater Miami area.


Haslem was also quoted saying that he is “excited” to share his community with FTX and work with them to increase crypto awareness.


FTX’s promotional blitzkrieg is its most latest instalment in the ongoing campaign of targeting sports fans to bring more consumers into the mainstream.


In May 2021, FTX’s Blockfolio, a price index app, had signed an endorsement deal with NFL’s top draft pick, Trevor Lawrence. It has also recently signed a $210 million deal for sponsoring eSports team TSM, changing its name to TSM FTX for the next 10 years, in addition to being the sponsor of major league baseball since June 2021.


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