The company which developed the Terra blockchain, Terraform Labs has signed an exclusive 5-year deal. This exciting deal will let millions of new users access a major American sports franchise. What is the deal worth? $40 million UST to let the brand broadcast to its legions of fans.
How it all started
The Terra-related ecosystem grew explosively in 2021 when thousands of new users were onboarded. The native Token LUNA’s value skyrocketed as well. The brand’s proprietary stablecoin UST experienced an increase in market cap in 2021 as well. This growth makes it a competitor which can take on established names like DAI and USDC. In spite of this, it is a relatively unknown entity in the crypto universe.
To further its expansion, the company sought $40 million UST worth of investments to fund a brand partnership. This partnership involves a franchise in one of four US professional sporting leagues. The name of the franchise is still secret and will be revealed after the deal is done. Many people think the partnership will be with a baseball team.
According to the numbers, the deal will pay $37.5 million to the franchise to sign the deal. $650,000 will be handed out for the construction, redesign, and renovation costs of the franchise venue. The aim is to get the highest possible visibility via traditional media outlets and introduce the Terra brand to the public. Since the recipient of the partnership deal is still a secret, we have to wait a few more days to find out.