TL;DR Breakdown
- On DEC. 20, 2021, Monumental Sports and Entertainment (MSE) announced the new partnership with FTX.
- The partnership will benefit the MSE by developing NFTs and getting an exclusive crypto exchange platform.
Yesterday, the MSE announced the completion of a deal with the FTX US. The deal will help the organization in its quest of joining the crypto space through NFTs and guarantee to list on FTX.
However, further details regarding the partnership are yet to be provided, but the teams behind MSE will now have exposure to NFTs. Consequently, the exclusive pieces from the MSE collection will be hitting FTX’s market first before other exchanges.
MSE partners with FTX
The MSE was founded by an American investor named Ted Leonsis. He was also a former senior executive of America Online, and the company also owns four different sports teams in the US. Yesterday, the sports organization announced a multi-year deal with FTX US that makes the exchange an official partner of all four teams.
Apart from owning these teams, the company also co-owns Axiomatic, responsible for a global electronic sports franchise known as Team Liquid. The new partnership will help the company embrace the latest interaction innovations to promote its brand.
The MSE said FTX would helm their in-plan highlight series ‘Big Block-Chain.’ They added that this series would be in the arenas, social media platforms, and in-game announcements. The company also revealed that the exchange would feature premium content and the arena TV networks to maximize its exposure with the MSE stakeholders.
It is not the first that FTX has partnered with a sports organization. Previously, FTX revealed a deal with the Mercedes F1 team and appointed Green Bay’s Aaron Jones as one of its ambassadors. FTX is also the largest cryptocurrency partner of the MLB. It also spent $200 M to purchase TSM esports corporation.
According to the vice president of FTX, Avi Dabir, the exchange aims at campaigning for the adoption of cryptocurrencies. He also added that his team strives to provide users with a unique crypto trading experience. The president of MSE, Jim Van Stone, also said that he was thrilled about the partnership and is glad to bring the crypto space to MSE’s fans.
Blockchain and crypto adoption in the sports sector becomes ‘inevitable’
Recently, crypto adoption has been accelerating in different sectors of the economy. The sports sector has been making headlines regarding blockchain technology almost every day. Many teams have also forged partnerships with crypto companies to develop tokens and NFT. Some athletes have also requested salaries in NFTs and cryptocurrencies.
Teams with fan tokens include Manchester City, Barcelona, Paris- Saint Germain, and Rush Fenway Racing. Other teams have also forged partnerships for the development of NFTs. Such teams include Barcelona, Mercedes AMG F1, Redbull, UFC, and WWE. These developments have been increasing lately; however, only time will tell what the future of blockchain and sports will look like
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