The company that owns four major professional sports teams in Washington, D.C., has announced FTX US as its official crypto exchange and non-fungible token (NFT) partner.
In a mega agreement for several years, Monumental Sports and Entertainment, or MSE, announced on Monday that FTX US would be the official crypto partner of the Capital City Go-Go basketball team, the Washington Mystics women’s basketball team, the Washington Wizards men’s basketball team, and the Washington Capitals hockey team.
MSE further revealed that the FTX US’ NFT platform would be given exclusive rights to future token releases by the given teams. The exchange will also be a partner for a “Big Blockchain” in-game highlight series.
“The integration of blockchain technology with the sports experience has just begun,” said Jim Van Stone, chief commercial officer and business operations president at MSE. He further added that the partnership is aiming for the advancement to an entirely new frontier, which will excite fans over and above their imaginations and expectations.
FTX continues its expansion through partnerships
The new partnership is the latest addition to the FTX US’ expansion efforts by continuous collaboration with major American sports organizations. The exchange giant agreed in March to pay $135 million for naming rights to the Miami Heat’s home stadium, which would be known as the FTX Arena until 2040. Since June, the exchange giant has been the official sponsor of Major League Baseball. It has also teamed up with the University of Kentucky’s men’s basketball team as its brand ambassador. FTX had recently secured a Super Bowl ad spot to promote crypto to more than 92 million people, contributing hugely to crypto adoption.
Following a $420 million funding round in October, one of the world’s largest cryptocurrency exchanges, FTX had marked a valuation of over $25 billion. In September, the company launched its NFT marketplace for users in the United States.