One of the most prominent cryptocurrency exchange platforms, FTX, is well-known for its investment in sports advertising campaigns. FTX has just signed a multi-million-dollar deal with the Golden State Warriors.

The Golden State Warriors have entered into an international rights sponsorship agreement with the FTX exchange.

FTX Signs a $10M Deal with the Golden State Warriors

The financial details of the deal are not known. CNBC was informed by people familiar with the matter that the deal was valued at $10 million and will last for several years.

FTX will be able to place its brand with the Warriors' G League team and the NBA 2K esports club under this agreement. The exchange will also receive signage at Chase Center and rights to non-fungible tokens, NFTs, that the team has developed.

The exchange will also be able to use its digital logos in televised NBA games. The virtual ads are expected to generate approximately $15.000 per quarter, according to people who are familiar with such deals. This is the Golden State Warriors' first international deal.

FTX and Warriors have also partnered to give one Bitcoin to three non profit organizations. The donation amounts to approximately $48,000 at the current Bitcoin price.

Deals in sports-crypto are on the rise

The FTX exchange is a leader in securing sponsorships for sports, as we have already mentioned. The exchange has previously signed a jersey agreement with Major League Baseball. It was the first crypto company to be granted a league sponsorship. In a $135 million deal, the exchange also acquired the naming rights to the Miami Heat Arena.

Sponsorships by crypto companies have been welcomed by the NBA in an enormous way. The Coinbase logo is featured in NBA arenas during Turner Sports' national games and ESPN. The estimated cost of the four-year agreement is $193 million.

Crypto.com is also not being ignored. The exchange reached a $700m deal with the Los Angeles Lakers. StormX signed a deal in July with the Portland Trail Blazers to display the league's first cryptocurrency jersey patch.

Non-fungible tokens (NFTs) have been a popular investment option for soccer teams. Leading soccer clubs in Europe have also been able to launch their own fan tokens through the Socios platform, which has generated additional revenue for them and increased fan engagement.

-------------------------------------

By: Ali Raza
Title: FTX signs $10M multi-year deal with Golden State Warriors
Sourced From: insidebitcoins.com/news/ftx-signs-10m-multi-year-deal-with-golden-state-warriors
Published Date: Wed, 15 Dec 2021 13:42:49 +0000