FTX, a crypto derivatives exchange, purchases naming rights for Cal Memorial sports stadium for $17.5 million. Earlier this year, the Miami Heat Arena’s naming rights were purchased, creating this venture doable.
Details of FTX and investment
With FTX, you get access to a quicker commerce atmosphere for crypto derivatives. The spinoff exchange won by Sam Bankman bought the Cal Memorial sports stadium from California University. FTX will use this chance to promote its brand at the sports stadium. This prompted FTX to sign a 17-million-dollar, 10-year deal to expand its reach in spots. In order to grow awareness for the new team, the Cal Golden Bears, the stadium’s home team will wear the firm’s brand on their jersey.
FTX and The Partnership with Miami Heat Basket Ball
Previously The FTX.US partnered with the Miami Heat basketball squad. This partnership created the stadium’s home team to get rebranded to an FTX arena. FTX will act as the formal crypto exchange of majors baseball. All the foremost league basketball Empires are expected to have the firm’s mark on their uniforms. According to reports, seven times champion of the Super Bowl Tom Brady together with his better half Gisele Bündchen became partners of FTX.
Furthermore, on 20th July 2021, FTX broke the records. The funding was raised to $900 million. The corporation is valued at $10 billion m. The partnership between FTX and majors basketball can facilitate awareness concerning digital assets like Bitcoin (BTC), Dogecoin (DOGE), Stellar(XLM) then so on.