Crypto exchange FTX to get naming rights to Miami Heat’s downtown arena
Cryptocurrency exchange FTX is currently in talks to sponsor Miami Heat’s NBA stadium. This latest report is another sign that cryptocurrencies are breaking into the mainstream economy this year and are positively impacting several industries.
FTX to sponsor Miami Heat’s downtown arena
FTX is reportedly in talks with Miami-Dade County in Florida to sponsor Miami Heat’s basketball arena. According to the Miami Herald report, the cryptocurrency exchange is getting closer to signing a deal with the county, which owns the stadium and is in charge of the naming rights.The report added that an unidentified party already registered ftxarena.com and created social media handles. If the talks are successful, FTX will replace American Airlines as the sponsor of the arena.
FTX has been one of the leading cryptocurrency exchanges in the world in recent years. Founder and CEO Sam Bankman-Fried was recently named the second-richest man in the blockchain and cryptocurrency space after Coinbase CEO Brian Armstrong. Bankman-Fried is also the head of Alameda Research and is one of the leading figures in the DeFi and cryptocurrency derivatives trading sectors.
FTX to be the first crypto venture tied to an NBA venue
The cryptocurrency exchange will be setting a record if the deal goes through. FTX would become the first Bitcoin and cryptocurrency trading entity to be connected to an NBA playing venue.The NBA has witnessed a considerable amount of cryptocurrency projects over the past few years. The league has played a key role in the NFT space so far, partnering with Dapper Labs on Top Shot, which tokenizes short video clips of game moments.
The Dapper Lab project has been a smashing success, and it is popular within the cryptocurrency and sporting arenas. Cryptocurrency companies continue to expand beyond the digital realm as they seek mainstream adoption of the digital currencies and their underlying technology
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