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MLB has officially partnered with the crypto exchange, FTX, in its first sponsorship with a crypto company. The new collaboration will be long term and will also feature uniform patches for the referees.
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The announcement took the form of a press release this morning and also revealed that FTX has entered into an agreement with MLB Players Inc., a subsidiary of the MLB Players Association, which will allow FTX to use the highlights of the players in their own content creation.
This news follows the announcement of the stock exchange that partnered with the Miami Heat and that the Miami Heat’s stadium would be renamed FTX Arena. The company seems to be taking a larger step in the professional sports space with its new partnerships.
The debut of the FTX umpire uniform patches will begin with the MLB All-Star Game on July 13. The FTX badges will also appear on all umpire uniforms throughout the regular season, playoffs and spring training.
FTX will now have worldwide rights to use the MLB logos in their own marketing. Fans will start to see the FTX and MLB logos on FTX ads as well as on MLB games, MLB.com, MLB Network, MLB.TV and various MLB social media platforms.
FTX CEO Sam Bankman-Fried said the new partnership is an honor and he looks forward to announcing more details on the partnership.
“It is an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of the US national pastime. FTX.COM and FTX.US are delighted to enter into this one-of-a-kind partnership with Major League Baseball. We look forward to announcing more details of our long-term partnership throughout the year. “
MLB CRO Noah Garden said the MLB fan base was among the early adopters of new technology to engage in gaming and that FTX was a leader in the crypto industry.
“FTX has quickly become a global leader in the ever-evolving cryptocurrency industry and continues to build on its already impressive reputation. Our fans were the first to embrace new technologies to interact with our game. We can’t wait to start collaborating with Sam and the entire FTX team. “
It is still unclear whether this partnership could lead to wider adoption of cryptocurrency within MLB. Earlier this year, Grayscale teamed up with the New York Giants. Giants Cheif’s trade agent Pete Guelli said such a partnership with Grayscale could help them navigate the space, suggesting the team may end up using cryptocurrency in the future.
“Grayscale has quickly emerged as a company that shares our passion for the New York market, but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve.”
More partnerships between crypto-related companies and sports teams could help increase crypto adoption in professional leagues. In a growing trend, a number of sports teams, like the Dallas Mavericks, San Jose Sharks, Oakland Athletics, and many more are already accepting cryptocurrency for tickets and other products on their sites.
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