Major League Baseball has announced its partnership with FTX, the first sponsorship of a professional sports league by a crypto brand.
Largest Sports Partnership in Crypto (mlb ftx)
The partnership will bring millions of MLB fans to the FTX platform in a five-year deal. FTX patches will be placed on referee uniforms at all games starting mid-July. Additionally, the exchange gained group player rights and allowed players to use their highlights for content creation.
Soon MLB Fans will start seeing FTX logos on all MLB affiliated websites and social media platforms. MLB tweeted a baseball stylized as a nod to the anticipated growth in crypto prices.
MLB has the highest total season attendance of any sports league worldwide, with over 68 million attendees in the 2019 season. That same year, MLB and its 30 teams generated over $3.6 billion in combined revenue.
MLB Head of Revenue Service Noah Garden commented on the deal, saying, “Our fans started using new technologies early to join our game,” implying that crypto exchange sponsorship is a good fit for baseball fans.
FTX Sponsorships Ever (ftx mlb)
FTX has had several high-profile sponsorships lately. In March, the stock market signed a sponsorship deal with the National Hockey League team, the Montreal Canadiens.
More recently, on June 04, FTX entered into a long-term partnership with professional basketball team Miami HEAT, securing the naming rights to its 19,000-capacity home stadium.
Esports teams were also featured on the exchange’s sponsorship list. On June 7, Team Solomid signed a 10-year naming rights contract with FTX worth $210 million. The deal will see TSM rebranded as TSM FTX.
With its latest set of sponsorships, it looks like FTX is trying to break into the mainstream consciousness and grow its brand.
The comments about the MLB deal by Sam Bankman-Fried, founder and CEO of FTX, seem to indicate this.
“One of FTX’s goals is to make our name there; We believe we have a best-in-class product and user experience, and we’re ready to share it with the world. There are a few partners like MLB that can help.”
MLB, the oldest major sports league in the US and Canada, is a highly recognizable brand and this partnership is likely to really help Bankman-Fried’s change to increase brand awareness around the world.