The Golden State Warriors (NBA) basketball team signs a groundbreaking partnership with the exchange FTX.US. Thanks to this partnership, the American branch of FTX becomes the official platform of the Warriors for everything related to cryptocurrencies and non-fungible tokens (NFTs).
A multi-year, multi-million dollar contract
On its Twitter account, the Golden State Warriors (NBA) basketball team unveiled a groundbreaking partnership with cryptocurrency platform FTX.US.
As part of the deal, the platform will benefit from a logo highlight that will accentuate its global visibility :
- The logo will be displayed with the Warriors’ G League club;
- The brand will be represented within the team in the NBA 2K game;
- The brand will also be featured in the Warriors’ home arena, the Chase Center.
Thus, FTX.US becomes the Warriors’ official platform for cryptocurrencies and non-fungible tokens (NFTs). In this sense, the franchise is expected to realize NFTs with the exchange starting in 2022.
“In our conversations with FTX.US, we quickly realized our shared desire to innovate around cryptocurrency integration and adoption, including the role NFTs play in global fan engagement,”
Golden State Warriors President Brandon Schneider.
To celebrate the agreement, the Warriors and FTX.US will donate 3 bitcoins to 3 nonprofits in the San Francisco area.
“FTX.US is a company that caught our eye a few months ago. We think we are at the beginning of the beginning. We’re all learning, and this space is going to evolve a lot,”
Brandon Schneider.
As for the terms of the agreement, no information has been made public. However, according to sources familiar with the deal, which was reported to CNBC, it is a multi-year contract worth $10 million.
FTX expands its presence in the sports sector
To increase its growth and expose cryptocurrencies to a wider audience, the FTX platform has invested several hundred million dollars in the sports sector.
Indeed, FTX recently signed a sponsorship deal with the Mercedes-AMG Petronas F1 team, where its brand is featured on both the drivers’ single-seaters as well as their suits.
In addition, the company has signed a 5-year partnership with Major League Baseball (MLB) to feature its logo at official MLB games.
As you can see, FTX’s strategy is similar for each operation. The idea is obviously to sign partnerships where the public is omnipresent in order to extend its presence, and therefore its visibility.
