FTX and Golden State Warriors Partner Up

Popular cryptocurrency exchange FTX has made a deal with the National Basketball Association (NBA) team, Golden State Warriors, to expand its brand and global presence. The popular NBA team which resides in San Francisco is said to have struck a new sponsorship deal worth over $10m.

The deal will mean branding rights over its minor division Warrior G League team, as well as the NBA 2k esports team. The FTX brand will also be posted and promoted around the stadium.

The NBA has been very crypto-friendly for some time. It was one of the first corporations in the NFT business to launch its own collectibles, which grew tremendously in popularity for some time. The NBA also made a large partnership lately with the popular cryptocurrency exchange, Coinbase. Just last month the name of the Los Angeles Lakers stadium was changed to Crypto.com stadium. 

FTX is the 5th largest centralized cryptocurrency exchange by volume. Yesterday, it reported over $16bn in daily volume. FTX has tough competition in the United States as Coinbase has long been established and successful in making its name there. This partnership will look to bring more US customers to the platform, thus more awareness.

This is not the first partnership in the NBA for FTX. Earlier this year it made a deal with Miami Heat to rename its basketball stadium to the FTX stadium for the next 19 years. The deal was made for over $130m.

Marketing opportunities for cryptocurrency companies have spread through all sports around the world including Major League Baseball, which had umpires wearing FTX patches, English Premier League football, which had Watford players wearing Stake’s cryptocurrency casino on their kits, and more.

We are likely to continue seeing this trend appear as these cryptocurrency exchanges continue to make incredible profits from digital assets.

Many hope these sponsorships continue to bring fresh people into the industry. The more they can get the word out there, the more demand we will see for our favorite tokens and coins. As the market has dipped in the recent week it’s good to hear more awareness campaigns going out.

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Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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