Teamwide offers for name, image and likeness deals are picking up in women’s sports. Earlier this week, CrowdPush announced a deal offered to the Alabama’s women’s gymnastics team, and now cryptocurrency exchange FTX is announcing an NIL offer being made to FSU’s entire softball team after making an offer to UCLA women’s basketball earlier this month.
“We like to partner with full teams because so much of crypto is about community development, and we hope that NIL partners learn and explore crypto and FTX with their friends and teammates in an authentic way,” said FTX vice president of business development Nate Clancy.
“FSU softball specifically was a great fit for FTX,” said Clancy. “When we looked at the culture they’ve built and the FSU standard of excellence, it became clear that they were the right partners.”
Clancy believes the deal is both the first teamwide deal for a softball team—although there have been NIL deals offered to all female student athletes at schools like BYU and FAU—and also the first team deal to be paid entirely in crypto. Teamwide deals are offered to every member of the team, although individuals must then opt in and choose to be part of the deal. FTX previously announced offers to Kentucky men’s basketball and BYU football.
FSU softball players who opt into the deal will be asked to promote FTX on social. Payment to the athletes is based on social reach and engagement, and the company says if all the athletes complete the asks for the term length of the deal, it would be nearly $80,000 to them as a collective.
Cryptocurrency companies have been entering the sports market from seemingly every angle this year. Both Crypto.com and FTX have purchased ads for the upcoming Super Bowl.
“We actually wanted to buy the Super Bowl itself but they don’t yet accept cryptocurrency. So we’re settling for ad time,” FTX CEO Sam Bankman-Friend said.
FTX has also purchased naming rights to two sports facilities this year: the Miami Heat’s arena in a 19-year, $135 million deal and the field at California Memorial Stadium for $17.5 million over 10 years.
Florida State’s football team previously announced a deal with a different cryptocurrency company, Yummy Crypto.