FTX Partners With the NBA's Golden State Warriors
The partnership will include an NFT drop, brand placement, and a donation to education groups.
Key Takeaways
- FTX and the Golden State Warriors have formed a partnership.
- The partnership will see the pro basketball team issue a series of non-fungible tokens on FTX's NFT marketplace.
- The agreement will also give FTX brand placement rights and involve a 3 BTC donation to STEM education groups.
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FTX U.S. has partnered with the NBA team the Golden State Warriors, according to a press release published on Tuesday. The partnership will see the Golden State Warriors team drop non-fungible tokens on FTX’s NFT marketplace beginning in 2022.
Partnership Includes NFTs, Brand Placement
FTX has continued its efforts to market itself with athletics partnerships, this time by striking a deal with the NBA’s Golden State Warriors.
The partnership will include an official NFT drop early next year. According to the press release: “As the Warriors’ Official Cryptocurrency Platform and NFT Marketplace, the franchise will drop NFTs on FTX.us, beginning in early 2022.”
The agreement will also involve brand placement, meaning that the two groups will have a “visible market presence, inclusive of logo and likeness, internationally.” FTX will have its logo placed on court fixtures belonging to Golden State Warriors and its affiliate teams. Brand placement will also extend to virtual e-sports spaces.
Finally, the partnership will be commemorated with a Bitcoin donation. 3 BTC ($143,000) will be split between three organizations in the San Francisco Bay focused on education equality in science, technology, engineering, and mathematics (STEM).
FTX Has Many Sports Partnerships
Previously, FTX had partnered with Golden State Warriors player Steph Curry, who became a brand ambassador for the company and received an equity stake for his efforts.
The crypto exchange has also partnered with the University of Kentucky Wildcats. It has additionally acquired naming rights to such stadiums as the former American Airlines arena in Miami and the football field at the University of California, Berkeley.
FTX is one of the largest cryptocurrency exchanges in the world, operating in the United States through FTX U.S. It handled $2.5 billion in volume over the last 24 hours on its spot exchange, making it the sixth-largest exchange by that measure. It also saw $7.3 billion in open interest on its derivatives exchange.
FTX’s launched its marketplace in June 2021 and expanded it to support Ethereum NFTs in early December. The new partnership will surely help expand the visibility of the exchange’s NFT features.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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