FTX Becomes MLB’s Official Cryptocurrency Exchange Brand in Long Term Deal
Following the naming rights deal for the NBA’s Miami Heat arena and the partnership with the esports giant TSM, FTX Trading Limited revealed a long term partnership with the professional baseball organization Major League Baseball (MLB).
FTX Partners With Major League Baseball
FTX Trading Limited and its parent company West Realm Shires Services Inc., has announced “a new long-term, global partnership,” according to mlb.com. The deal means that FTX will be the official cryptocurrency exchange brand for the professional baseball league. The long-term partnership is meant to increase FTX Trading Limited’s “brand awareness,” alongside helping the MLB innovate.
The FTX.US logo will be featured on umpire uniforms at the MLB’s All-Star Game in July. The company has also formed an agreement with MLB Players Inc. and this gives the crypto exchange promotional-channel access and the rights to “players in content creation.” Sam Bankman-Fried, the CEO and founder of FTX said the company looks forward to announcing further details about the MLB partnership in the future.
“It’s an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of America’s national pastime,” Bankman-Fried said in a statement. “FTX.COM and FTX.US are excited to enter this first-of-its-kind partnership with Major League Baseball. At FTX, we strive each day to make a positive global impact, and there is no better partner for us to achieve this goal with [the] MLB and its international fan base,” he added.
FTX and MLB Partnership Follows Miami Heat Arena Naming Rights and the Deal With Esports Giant TSM
During the first week of June, FTX announced that it signed a naming rights deal with U.S. professional esports organization TSM for $210 million. The deal with TSM has made it so FTX can rename the company “TSM FTX.” The announcement further detailed that the TSM FTX plan is to expand the operations and enter new markets in South America and Asia. Before the TSM deal, FTX acquired another naming deal in an arrangement with the NBA’s Miami Heat arena owners in Florida.
Bankman-Fried’s company also worked with Chess.com during the “FTX Crypto Cup.” In the FTX Crypto Cup, Magnus Carlsen beat Wesley So in the Champions Chess Tour final which ended up being an “all-decisive armageddon game.” The leading crypto exchange Coinbase had also partnered with Chess.com this year with the contest called “Cryptochamps,” a crypto-themed chess tournament. As far as the MLB deal, the league looks forward to growing with the maturing crypto industry.
“This is an incredibly exciting announcement for everyone in Major League Baseball as we partner with a global leader in the early stages of their unbelievable growth,” MLB chief revenue officer Noah Garden stated during the announcement. “FTX quickly cultivated itself into a worldwide leader in the ever-evolving cryptocurrency industry and continues to build on its already impressive reputation. Our fans have been early adopters in using new technologies to engage with our game,” he added.
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