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FTX $10 million to Golden State Warriors for global rights
FTX, a popular cryptocurrency exchange, has paid around $10 million to Golden State Warriors, an American professional basketball team based in San Francisco. As per a report from CNBC, the basketball team has agreed to enter into a international rights sponsorship deal but, the terms of the deal are not yet revealed.
FTX signs a multi-year deal
CNBC said that the sources close to the proceedings revealed that the deal will hold for a number of years and is worth a total of $10 million. Furthermore, the people who revealed these terms of the contract chose to remain anonymous because of they are not allowed to speak on the matter publicly.“FTX is a company that caught our eyes a couple of months ago,” Golden State Warriors President and COO Brandon Schneider said in an interview with CNBC. “We think we’re at the beginning of the beginning. We’re all learning, and this space will evolve quite a bit,” Schneider added.
This marks the first global deal for the team which is worth about $5.6 billion. The team has a huge fan following and it seems that FTX is looking to capitalize on the same.
NFT rights
The FTX now holds the rights to non-fungible tokens of the team. This hints at a similar strategy followed by Binance with the release of Binance Fan Tokens wherein holder of the token get special access to the team's NFTs and get a change to meet-and-greet with the players."FTX gets brand placement with the Warriors’ G League club and the NBA 2K esports team, in-arena signage at Chase Center, and obtains the team’s non-fungible tokens (NFTs) rights," claims the report from CNBC.FTX has been actively engaged with partnerships and expanding its empire. Recently, the exchange finalized its deal of acquiring LedgerX and is also is ready to promote cryptocurrency at the February 2022 Super Ball game.
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