Saturday, June 22, 2024

FTX, the crypto platform, will pay $10 million to the Golden State Warriors

Cryptocurrency exchange FTX’s American arm, FTX.US, recently signed a deal reportedly worth $10 million with the Golden State Warriors. The exchange will be the official crypto platform for the basketball team from San Francisco and also serve as the team’s official NFT marketplace. The Warriors will start selling NFTs on the platform from the first half of 2022.

While not much has been disclosed about the exact terms of the deal, it has been revealed that the FTX branding will appear on the Santa Cruz Warriors’ press table and basketball pole pads. The Santa Cruz Warriors is a G League affiliate of the Golden State Warriors.

Brandon Schneider, the Chief Operating Officer and President of the Golden State Warriors said that the deal is a result of the ‘joint desire’ of the team and FTX to innovate around the adoption and integration of cryptocurrency. He also recognized the role of NFTs in engaging fans of the team around the world.

The Golden State Warriors and FTX.US will give away 3 Bitcoin to local organizations working towards addressing educational equity. This ‘giveaway’ will mark the agreement between the crypto firm and the basketball team.

FTX has also signed other deals in the sporting arena. For example, the company secured the Miami Heat Arena’s naming rights in a $135 million deal in March 2021.

Apart from FTX, there have been several other well-known crypto companies that are making their way into the sphere of sports. For instance, Crypto.com is renaming the Los Angeles Staples Center as a part of a reported $700 million deal.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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