FTX signs its newest sports deal with Monumental – Sports Business Journal

Monumental Sports & Entertainment and FTX reached a multiyear, multimillion-dollar deal that makes FTX the official cryptocurrency exchange of MSE, the Wizards, Capitals, WNBA Mystics and NBA G League Capital City Go-Go. MSE’s first cryptocurrency partner also gets exclusive rights to any future NFT releases by MSE and its teams. MSE held discussions with other players in the cryptocurrency exchange realm but found a common entrepreneurial spirit with FTX. “Our acumen is trying to be first in new tech opportunities,” said MSE President of Business Operations & Chief Commercial Officer Jim Van Stone. “We just found that we had so much synergy with FTX because the purpose of this partnership is really about education and engaging our community.”

FTX will be presenting partner for the “Big Block-Chain,” an in-game and social media feature highlighting blocked shots by Monumental’s basketball teams or saves during Capitals hockey games. FTX also will be featured on all in-arena TV networks. MSE simultaneously dropped NFT collections for the Wizards and Capitals earlier this year, and FTX will play a role in any future drops via the exchange’s own NFT marketplace.

The partnership is domestic in focus. NBA teams are allowed three international partners, and the Warriors, who signed a similar deal with FTX last week, used one of their international spots to make their partnership with the crypto exchange global in nature. FTX, which recently moved its HQ from Hong Kong to the Bahamas, has rapidly grown its sports sponsorship presence in ’21, most notably through deals with MLB and naming rights for the Heat’s arena.