Key takeaways:
- FTX US enters a deal with NBA team Golden State Warriors, which will allow the exchange’s growing NFT marketplace to host the professional basketball team’s digital collectibles
- FTX has secured several major sports sponsorships throughout the year, including deals with NBA franchises Philadelphia 76ers, Miami Heat, and F1 team Mercedes-AMG Petronas
- The Warriors have executed one of the most lucrative NFT drops earlier in the year, selling a single digital collectible for more than $800,000
FTX US, the US-based arm of the international FTX cryptocurrency exchange, has penned a deal with NBA’s Golden State Warriors, which will include the launch of an exclusive non-fungible tokens (NFTs) marketplace in early 2022 and will feature the issuance of unique digital collectibles commemorating the rich history of one of the winningest clubs in basketball’s history.
The Warriors executed the most successful sports NFT sale earlier in the year
According to the newly-penned deal terms, the Warriors will use FTX US as the go-to NFT marketplace for the upcoming digital item drops. Judging by past success, the new NFTs are likely going to be a great commercial success. The six-time NBA championship team has executed an NFT drop earlier in the year, selling the one-of-a-kind 6x World Championship Ring for 285 ETH, worth $871,000 at the time of the sale.
In October, FTX US announced the expansion of its NFT offering and started offering Solana NFTs on its website in an effort to compete with market-leading NFT marketplaces such as Solanart and Digital Eyes.
This is not the first time sports have partnered up with crypto. Previously, Premier League club Watford FC signed a multi-year sponsorship deal with Stake.com, a company that engages in USDT sports betting as well as online gambling in the US and beyond.
FTX US President Brett Harrison talks about the new deal with the Warriors:
“The FTX US NFT Platform will provide a leading, safe and secure venue for the Warriors international fan base to access exclusive collectibles from the franchise.”
FTX exchange and the renowned NBA franchise will gift three Bitcoin to as many non-profit organizations in the Bay Area to help alleviate educational struggles in the region and address educational equity issues in the San Francisco community.
The FTX US sports deal comes a month after the company’s exchange competitor Crypto.com announced a $700 million rebranding deal of the LA’s iconic Staples Center, which will be renamed to Crypto.com Arena once the massive, 20-year renaming deal goes into effect on December 25.
