Sunday, June 23, 2024

Terra’s residents to support a $40 million collaboration with American sports team.

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.

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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