FTX, one of the leading cryptocurrency exchange platforms, is known for investing heavily in sports advertisement campaigns. The latest multi-million-dollar marketing deal signed by FTX is with the Golden State Warriors.
The Golden State Warriors have agreed to enter into an international rights sponsorship deal with the FTX exchange.
FTX signs $10M deal with the Golden State Warriors
The financials of the deal have not been disclosed. However, those close to the matter revealed to CNBC under anonymity that the deal was worth $10 million and will run for several years.
Under this deal, FTX will receive brand placement with the Warriors’ G League club and the NBA 2K esports team. Moreover, the exchange will receive in-arena signage at Chase Center, and obtain rights to non-fungible tokens (NFTs) developed by the team.
The exchange will also get the right to feature its digital logos on televised games on both local and national NBA games. According to those familiar with such deals, the virtual ads will generate around $15.000 quarterly. This is the first international deal for the Golden State Warriors.
FTX and the Warriors have also partnered to donate one Bitcoin to three non-profit organizations. At the current Bitcoin prices, the donation is worth around $48,000.
Sports-crypto deals on the rise
As aforementioned, the FTX exchange has placed itself as a leader in securing sports sponsorships. The exchange previously signed a jersey deal with Major League Baseball. This made it the only crypto firm to obtain a league sponsorship. The exchange also obtained the naming rights of the Miami Heat Arena in a $135 million deal.
The NBA has embraced sponsorships from crypto firms in a very big way. The logo of the Coinbase exchange appears in NBA arenas during Turner Sports national games and ESPN. The four-year deal is estimated to cost around $193 million.
Crypto.com has also not been left behind. The exchange signed a $700 million deal with the Los Angeles Lakers, which renamed the Staples Center to Crypto.com. In July, StormX landed a deal with Portland Trail Blazers to feature the league’s first crypto jersey patch.
Soccer teams have ventured deeper into the crypto space and have invested in non-fungible tokens (NFTs). The Socios platform has also allowed leading soccer teams in Europe to launch their own fan tokens, generating additional revenues for clubs and boosting fan engagement.
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