FTX US, a cryptocurrency exchange, has partnered with four sports clubs in Washington, DC.

 FTX US, a cryptocurrency exchange, has partnered with four sports clubs in Washington, DC.

Future token drops by the four teams will be exclusive to FTX US' NFT platform, and the exchange will be a partner for an in-game highlight series called "Big Block-Chain."

The corporation that owns four major professional sports teams in Washington, D.C. has announced that FTX US will be its official crypto exchange and nonfungible token partner.

In a Monday announcement, Monumental Sports and Entertainment, or MSE, said FTX US would be the official crypto partner of the Washington Capitals hockey team, the Washington Wizards men’s basketball team, the Washington Mystics women’s basketball team and the Capital City Go-Go basketball team as part of a multi-year deal. According to MSE, FTX US’ NFT platform will have exclusive rights to future token drops by the four teams and the exchange will be a partner for an in-game highlight series, dubbed “Big Block-Chain.”

“The integration of blockchain technology with the sports experience has only just begun, and together we are going to advance to an entirely new frontier, which will ignite fans beyond what they can even imagine today,” said Jim Van Stone, MSE president of business operations and the firm’s chief commercial officer.

The news marks the latest collaboration between FTX US and major American sports organisations. The operator of the crypto exchange, FTX, 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 at least 2040. Since June, the company has been an official sponsor of Major League Baseball, and it has teamed up with the University of Kentucky's men's basketball team to serve as brand ambassadors.

Following a $420 million investment round in October, FTX, one of the world's largest cryptocurrency exchanges, had a valuation of more than $25 billion. In September, the business launched its NFT marketplace for customers in the United States.

 

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