MLB enters into cryptocurrency partnership with FTX

MLB enters into cryptocurrency partnership with FTX

By

Andre Cohen


Major League Baseball has signed a long-term partnership with FTX, marking the first time a North American professional sports league has partnered with a cryptocurrency exchange. The global partnership makes FTX the official crypto exchange brand of MLB.

FTX.US (the company’s US-specific brand) has also reached an agreement with the MLBPA for the rights to use player highlights in its content. Blockfolio, a crypto portfolio management app owned by FTX, has launched a sign-up promotion that was posted by MLB’s Twitter account on Wednesday as part of the new deal.

Beginning with the MLB All-Star Game on July 13, all umpires will have the FTX.US logo on their sleeves during games, making FTX the league’s premier umpire uniform patch partner. FTX will also be advertised on nationally televised MLB games, MLB.com, MLB Network, MLB.TV and the league’s social media platforms.

While the value of FTX’s MLB deal has not been announced, FTX signed a $210 million naming rights deal with esports organization TSM earlier this month, along with a $135 million deal for the naming rights to the Miami Heat’s arena, which will be called FTX Arena. next NBA season.

MLB’s existing presence in the crypto space includes deals with Topps and Candy Digital to create player digital collectibles (NFTs). The Oakland A’s are accepting bitcoin in exchange for season continuation tickets, while team president Dave Kaval told SportTechie in April that he “wouldn’t be surprised” if players’ payment in crypto was included in the next collective agreement.

Neal T. Doss