FTX is establishing a sports and entertainment-oriented NFT marketplace. Sam Bankman-FTX Fried’s crypto-exchange works with Dolphin Entertainment to create a non-fungible token (NFT) sports and entertainment marketplace.
“Dolphin’s reach and scale across all of pop culture is very impressive to us, our joint offerings are distinct from the rest of the market and, most importantly, immediately put NFTs on a level playing field with all other consumer products available for purchase online,” said Brett Harrison, president of FTX.US.
Accordingly, the NBA perhaps paved the way with NBA Top Shot, a collection frenzy for the lovers of NFT and cryptography. The Golden State Warriors’ Storied NBA team has also published an NFT collection in April this year. Major stars in the NFL, followed by Tom Brady, Rob Gronkowski, and the Manning Brothers all launching NFT’s.
In the MLB, Red Sox icon Ted Williams has his own NFT. In the UFC, the current champion of heavyweight Francis Ngannou has earned NFT sales more money than he did in the championship battle against his fellow UFC heavyweight Stipe Miocic. NFTs and sports are already well connected in the majority of the largest sports in the world.
FTX will also sponsor the most improved LCS player award chosen every season. The most recent collaboration adds a $135 million 19-year Naming Rights Deal to FTX’s sponsorship arrangements this year. Including Major League Baseball, for the Miami Heat Home Arena and a $210 million Naming Rights Deal for Team SoloMid.
Biggest Sponsorship Contract
FTX is a prominent crypto and derivatives exchange with ambitious Sam Bankman-Fried millionaire. The company just received $900 million in an $18 billion series B financing transaction.
Additionally, FTX also supports the official Riot Games League of Legends LCS esports league (LoL). According to a statement made on Aug. 4 from LoL, a sponsorship agreement has been struck for seven years.
The new agreement is Riot’s biggest sponsorship contract for an esports league, although the FTX monetary cost is not revealed at this point.
