US Crypto Exchange FTX Partners With Monumental Sports and Entertainment For NFTs

OVERVIEW

  • Details on the timetable and capital commitment are still being kept under wraps.
  • Sports NFTs will be sold only through FTX US.
  • With this new arrangement, FTX US hopes to raise crypto awareness.

FTX US Partners With MSE

The crypto exchange FTX US has been named the official crypto partner of Washington, DC-based Monumental Sports and Entertainment in a multi-year agreement (MSE).

The agreement would enable sports fans to participate in crypto activities and buy authentic non-fungible tokens (NFTs) associated with their favourite sports.

The Washington Capitals hockey club, the Washington Wizards men’s basketball team, the Washington Mystics women’s basketball team, and the Capital City Go-Go basketball team are all sponsored by this contract.

“The integration of blockchain technology with the sports experience has only just begun,” Jim Van Stone, President, Business Operations and Chief Commercial Officer, MSE, said in a statement.

“Together, we are going to advance to an entirely new frontier that will ignite fans beyond what they can even imagine today.”

The FTX US platform will now have exclusive rights to offer digital collectibles or non-fungible tokens (NFTs) through its marketplace. The exchange will also be a partner in MSE’s in-game highlight series, the “Big Block-Chain.”

Replying which FTX re-tweeted the Tweet writing, “Looking forward to an incredible partnership, working alongside one of the leaders in sports and entertainment”

“Continue to raise awareness of digital assets is one of our main objectives.” “We’re pleased to introduce the world of crypto to sports fans in Washington, DC,” said Avi Dabir, Vice President of Business Development at FTX US, which is presently valued at over $25 billion.

Growing Partnerships Between Sports Clubs & Crypto Exchanges

Support for bitcoin from the sports industry has been a rage in recent months.

Crypto advertisements saturated television and social media earlier this year during prominent international cricket competitions like the T20 World Cup and the Indian Premier League (IPL).

NBA later announced a multi-year contract with Coinbase, an American cryptocurrency exchange, for crypto-related ventures.

The NBA franchise of billionaire entrepreneur Mark Cuban, the Dallas Mavericks, became the first in the league to accept meme-based Dogecoin as a payment option earlier this month.

This year, the Sacramento Kings, an NBA franchise headquartered in California, made history by paying players with Bitcoins, the world’s most valuable cryptocurrency.

Shaquille O’Neal of the NBA has joined the NFT field by launching a series of digital artefacts on the cryptocurrency platform Ethernity Chain.

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