Major League Baseball (MLB) and leading cryptocurrency exchange FTX recently announced a long-term, global partnership, making FTX the official cryptocurrency exchange brand for the MLB. FTX, a company known to make big moves recently, may have just made their biggest move yet in building a relationship with the MLB. Both the MLB and FTX are extremely excited about what the future has in store for their respective organizations.
What the Deal Does
In this deal, both parties seek immediate benefits. The FTX gains constant exposure and increased brand awareness while the MLB brings continued innovation into their sport.
In establishing a long-term deal, FTX became a part of baseball’s latest addition in an attempt to attract a larger audience. FTX will have the privilege of gathering group player rights allowing them to use any player’s highlights or bloopers for any content creation or promotional purposes.
Not only that, but the deal makes FTX.US, the branch of FTX’s global trading platform in the US, the MLB’s first-ever umpire uniform patch partner. Beginning on July 13th, the date of the 2021 MLB All-Star Game, an FTX.US patch will be worn on all of the sleeves of umpire uniforms for the remainder of the regular season and playoff games.
Lastly, FTX gained global marketing rights in the deal, permitting them to use MLB marks, logos, and any noteworthy events. Fans will now have the FTX logo engraved into their heads as they make their way into nationally televised games and onto MLB’s social media.
Both Parties Excited
It goes without saying that FTX got the best deal possible in partnering with the MLB. An opportunity as rare as this one must be taken advantage of, and that’s exactly what FTX was able to accomplish.
Anticipating a big year FTX CEO and founder Sam Bankman-Fried said:
“It’s an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of America’s national pastime. FTX.COM and FTX.US are excited to enter this first-of-its-kind partnership with Major League Baseball. At FTX, we strive each day to make a positive global impact, and there is no better partner for us to achieve this goal than MLB and its international fan base.”
There’s no doubt that a partnership with the MLB will help FTX in gaining global recognition. A league with such great diversity presents a lot of opportunity for a company on the rise. Of course, company growth is a strong desire for any striving business, and FTX will be accepted by any of those who want to jump on board.
The MLB wouldn’t be making a deal with FTX if there wasn’t something in it for them. Does placing a patch on an umpire’s uniform or displaying FTX’s logo really make all that much of a difference? You’d be surprised, but the answer is a resounding yes. Involving cryptocurrency in the sport naturally generates and brings in a new audience to the game, which is what the MLB hopes to gain out of this deal.
Similar to Sam, MLB chief revenue officer Noah Garden shared his excitement with the world saying:
“This is an incredibly exciting announcement for everyone in Major League Baseball as we partner with a global leader in the early stages of their unbelievable growth. Our fans have been early adopters in using new technologies to engage with our game. We cannot wait to start collaborating with Sam and the entire FTX team.”
FTX Surging into Sports
Becoming the official cryptocurrency exchange brand for the MLB and making a headliner in the sports world is something that FTX has grown accustomed to. Earlier this year, FTX announced a naming rights deal they struck with the Miami Heat, changing the name of their home arena to FTX Arena. In doing that, they became the official cryptocurrency exchange for the Heat and their future.
FTX didn’t stop there and proceeded to sign a record-breaking naming rights deal with TSM, a leading esports organization. No longer just TSM, the popular esports team now is referred to as “TSM FTX” thanks to the new deal.
Who knows what’s next for the leading cryptocurrency exchange? Big move after big move, it almost seems like the next one could be just around the corner.