This year 2021 was all about sports for the FTX exchange platform. This time around, Sam Bankman-Fried signed a multi-year deal with Monumental Sports & Entertainment and its four Washington sports franchises, including the Wizards (NBA) and Capitals (NHL).
FTX hits the jackpot in Washington
The information was confirmed by both Monumental Sports & Entertainment (MSE) and FTX.US, the US arm of FTX. The two entities have signed a multi-year agreement making the cryptocurrency exchange “the official partner of MSE and its various properties”.
Based in Washington, D.C., MSE is one of the largest sports organisations in the United States. It owns four professional franchises, including the NHL Capitals and NBA Wizards, three e-sports teams, two renowned sports and entertainment venues and a sports news channel.
Today MSE and @FTX_Official announced a groundbreaking new partnership making FTX US the official cryptocurrency exchange and NFT partner for MSE and its properties
More info here: https://t.co/G08XIFDX6q pic.twitter.com/VZ4Sb3xrhb
– Monumental Sports & Entertainment (@MSE) December 20, 2021
This agreement will allow viewers of both MSE arenas to experience the FTX US brand. It is expected that the brand will appear during the match via TV spots, billboards in the stadiums or even on social networks. It will also be displayed in the lobbies and corridors of the two Washington arenas.
Monumental Sports & Entertainment is excited to work with FTX to bring the leading crypto-currency exchange to the country’s most loyal and sophisticated fans,” said Jim Van Stone, chief commercial officer of MSE.
As an “official NFT partner” of MSE, FTX US’ NFT platform will have exclusive rights to future NFT airdrops from Monumental Sports teams.
FTX has announced a partnership with Monumental Sports, becoming the official crypto exchange of 4 franchises:
➖ Washington Wizards
➖ Washington Mystics
➖ Washington Capitals
➖ Capital City Go-GoThe multiyear deal aims to increase crypto presence and brand awareness in DC. pic.twitter.com/6YUGXLfQjY
– Front Office Sports (@FOS) December 21, 2021
FTX continues to invest in sport
We’ve seen a clear trend this year of cryptocurrency companies getting involved in the world of sports. The FTX exchange has led the way, including a 19-year partnership with the Miami Heat, including the renaming of the stadium to FTX Arena.
Earlier this month, another NBA franchise, the Golden State Warriors, partnered with Sam Bankman-Fried’s company. The agreement also included FTX branding on the players’ jerseys and in all merchandise, including the NBA 2K basketball game.
Since the beginning of the year, FTX has invested hundreds of millions of dollars to promote its brand to a maximum number of people. This strategy is also shared by rival platforms Crypto.com and Coinbase. While the former has its logo displayed at every Formula 1 Grand Prix, the latter is a sponsor of the NBA, the American basketball league.
