The blockchain Terra (LUNA) has announced a partnership with the Washington Nationals baseball team following a vote organised via its decentralised autonomous organisation (DAO). This will give Terra 5 years of prime advertising alongside the US team, and it could be possible for UST to be used as a currency within Nationals Park stadium from next season.
Terra partners with Washington Nationals
It all started on February 1 when Do Kwon, the co-founder of blockchain Terra (LUNA), had proposed that $40 million be used in the form of UST to partner with an as-yet-unknown sports team. The proposal was then put to a community vote via the blockchain’s proposed governance system.
With more than 98% of positive votes, the proposal was largely accepted: the 40 million dollars will be used to establish a 5-year partnership with the Washington Nationals baseball franchise, which evolves within the Eastern Division of the National League.
1/ After much anticipation, we’re excited to announce that the [REDACTED] American professional sports partner of the Terra Community Trust (TCT) is the Washington Nationals MLB franchise!
Read the official press release here https://t.co/hbmfQXOhEC
– Terra (UST) Powered by LUNA (@terra_money) February 9, 2022
The partnership has been funded through Terra’s Decentralised Autonomous Organisation (DAO). To date, the community’s treasury is worth approximately $2.7 billion. Note that this is the first ever agreement between a sports franchise and a DAO.
A great ad for Terra
This major partnership could allow fans to shop in UST at the team’s stadium, Nationals Park, starting next season. UST is the algorithmic stablecoin of the Terra blockchain, so it tracks the price of the US dollar.
In addition, billboards highlighting the Terra ecosystem will be placed around the stadium, and a series of video clips will also be shot to promote the blockchain on the Washington Nationals’ social media channels.
The Nationals Club, a sort of premium spectator box within the stadium, will be renamed “The Terra Club”. We are excited to partner with Terra to explore bringing new fan experiences to Nationals Park, including the use of the UST cryptocurrency to make purchases,” said Mark Lerner, principal owner of the Washington Nationals team.
A successful formula
Collaborations between sports and blockchain continue to grow at a rapid pace: last year, Crypto.com (CRO) and the FTX platform went toe to toe, alternating partnerships worth millions. We remember in particular the colossal $700 million cheque that Crypto.com signed to rename the Staples Center in Los Angeles the “Crypto.com Arena”.
More recently, UFC world champion Francis Ngannou announced that he would receive part of his salary in Bitcoin. Also in combat sports, Mike Tyson declared that he was a fan of the Solana (SOL) blockchain, and that he himself owned a number of SOL tokens.
Such is the success that sports fields are even being created in the metaverse, such as the arrival of the Australian Open in the virtual world of Decentraland last January.
