Terra sponsors Washington Nationals, Bitstamp backs Immortals esports

February 10, 2022 Coin Telegraph

bitstamp

The two new partnerships will see crypto and NFT integrations with major professional sports and esports organizations.

Sports and esports fans will soon see more crypto ads during games as Terra has partnered up with the Washington Nationals MLB team and crypto exchange Bitstamp is now partnered with esports organization Immortals.

Terra (LUNA) is the 10th largest cryptocurrency by market cap and the blockchain that produces the UST stablecoin. The project is governed by a decentralized autonomous organization (DAO), which is now an official partner of the Washington Nationals.

The Terra community committed $38.2 million in UST over the next five years to secure the deal. The partnership was proposed by Terra founder Do Kwon on Feb. 1 through the community’s governance platform.

As part of the partnership, there are plans to allow fans at games to make purchases with UST at the team's home stadium, Nationals Park, as early as next season.

The team will also display Terra signage around Nationals Park during games and produce a five-part video series promoting Terra.

Nearly 1.5 million fans attended Nationals games throughout the 2021 season. That number is expected to climb above 2 million as Covid-19 restrictions are lifted, giving Terra greater exposure in the ballpark.

Terra is one of the largest DAOs in the cryptocurrency industry.

Terra has experienced a meteoric rise as a market leader.

.

// https://t.co/ESel7phptn pic.twitter.com/MzQ3UxzMpc
— Washington Nationals (@Nationals) February 9, 2022

The Terra community joins FTX as a major crypto outfit sponsoring professional American sports teams.

From real to virtual pro sports

U.K.-based crypto exchange Bitstamp announced on Feb. 9 that it has partnered with the U.S.-based Immortals competitive esports organization.

The deal will see Bitstamp and Immortals collaborate on three fronts including future nonfungible tokens (NFT) for fans.

Immortals will launch a team of content creators who will serve as Bitstamp brand ambassadors and offer “interactive streams, custom content, and exclusive giveaways that fuse crypto and gaming.”

What's the best way to announce a partnership with the world's longest running crypto exchange? @Bitstamp pic.twitter.com/6Ap8tEiqVr
— Immortals (@Immortals) February 9, 2022

Bitstamp will sponsor the Immortals during the League of Legends World Championship. At the championship, every time Immortals draws first blood (that is, gets the first kill in a match) fans will have a chance to win crypto.

The Immortals stated the partnership is “specifically designed as both an educational opportunity, through which fans can learn more about crypto, and to enable fans to explore and interact with the Web3 space.”

Bitstamp now has its second official partner after Guild Esports PLC for its Bitstamp Gaming platform.

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Exodus wallet integrates with SportX to enable esports betting with crypto

November 23, 2021 Coin Telegraph

Betting

Cryptocurrency and smart contracts are redefining the future of online betting. Esports, meanwhile, represent a growing market for gambling.

Cryptocurrency wallet Exodus has officially integrated with SportX, an online sports and crypto betting platform, giving users the ability to wager on esports games through smart contracts executed on the Polygon network.

The partnership, which was announced Tuesday, gives Exodus’ more than 1 million users access to SportX’s decentralized betting exchange where they can place bets on a wide range of sports and esports games using cryptocurrency. The minimum bet amount is $5, denominated in USD Coin (USDC), which can be sent directly to the Exodus wallet or exchanged from any of the 138 cryptocurrencies it supports. All markets created, traded and settled on SportX are facilitated by the Polygon network.

Currently, SportX is authorized for use in Canada, South America, most European countries excluding France and the Netherlands and throughout most of Asia.

Esports, which refers to multiplayer video games played competitively in front of spectators, has grown to become a billion-dollar industry, with mainstream developers such as Halo entering the market.

What a statement from Halo. Their re-entry into esports has been nothing short of incredible. Balanced maps, ranked play and a multi-million dollar tournament circuit out of the gate two weeks after release. Bravo @Halo.

And congratulations @OpTic on the first
— 100T Nadeshot (@Nadeshot) November 22, 2021

Although the relationship between cryptocurrency and esports is still nascent, industry observers have identified a “special connection” between the two domains. Both communities share similar demographics and employ technologies that transcend geographic locations. The financialization of gaming, also known as GameFi, is also expected to present new opportunities for the esports industry. (However, GameFi is not limited to the financialization of esports, but digital gaming more generally.)

Crypto exchanges, meanwhile, continue to expand their footprint in the esports market, with the Sam Bankman-Fried-led FTX leading the way. In August, the derivatives exchange inked a seven-year deal with Dolphin Entertainment to create nonfungible tokens that target brands in several sectors, including esports. In June, FTX sealed a $210 million naming rights deal with esports giant TSM.

Sorare scores $680M funding led by SoftBank to grow its NFT sport portfolio

September 21, 2021 Coin Telegraph

Sorare scores 0M funding led by SoftBank to grow its NFT sport portfolio

Coin Telegraph

Sorare attained a $4.3 billion valuation with a Series B funding round led by the Tokyo-based holding company.

Sorare, a marketplace for nonfungible token (NFT) trading cards, has raised $680 million in a Series B funding round led by Japanese fintech giant SoftBank, resulting in a revised valuation of $4.3 billion for the platform. According to the company, the latest funding will help expand Sorare’s portfolio of football player NFTs by partnering with more football leagues and associations.

In early September, the French NFT-based trading platform secured its first soccer league partnership with La Liga in addition to having NFT collaborations with PSG, Liverpool and other top-tier soccer teams. Sorare also plans to diversify its NFT-based portfolio offerings to other fantasy sports.

Existing investors and high-profile business angels participated in the funding, including Benchmark, Accel and Headline. New investors include Atomico, Bessemer Venture Partners, D1 Capital, Eurazeo, IVP and LionTree.

In July, SoftBank had led a $532 million funding round for Sorare. However, Sorare CEO Nicolas Julia denied the funding claims, which was initially fueled by insider information.

Although the football community has readily accepted the NFT marketplace, the United States National Football League (NFL) has recently barred teams and members from participating in NFTs or any other form of crypto-related partnerships.

An anonymous NFL member said that the new guidelines prohibit clubs from selling, promoting and advertising blockchain and digital assets in any form until further notice.

In addition, mainstream fintechs such as Visa have described NFTs as a promising medium for fan engagement as the market registered $2.5 billion in sales during the first half of 2021.

Crypto exchange Bybit signs esports deals with Astralis and Alliance

August 23, 2021 Coin Telegraph

Coin Telegraph

Cryptocurrency exchanges have identified esports as a potential growth driver. The industry has experienced significant growth in recent years as leagues look to monetize the competitive nature of video games.

Bybit has secured new contracts with esports organizations Astralis and Alliance that will see the cryptocurrency exchange expand its footprint in the video game industry.

Bybit will have its logo featured on gaming jerseys and twitch.tv streams as part of a broader strategic initiative targeting more expansive player engagements, carbon neutrality initiatives and financial education programs, the exchange announced Monday.

Ben Zhou, co-founder and CEO of Bybit, said his company “is in it for the long run,” referring to esports. He believes there is a “special connection” between the esports and cryptocurrency communities for their high degree of competitiveness and rapid adoption curves.

As part of the deal, Astralis and Alliance will send talent to the upcoming World Series of Trading, which is an annual gamified cryptocurrency trading competition hosted by Bybit. Players will compete for a prize pool of up to $7.5 million, which is roughly five times the previous year’s sum.

Bybit has been expanding its footprint in the esports industry, having only recently signed an exclusive partnership with NAVI, a Ukrainian esports organization known for its Counter Strike, FIFA and Apex Legends competitions.

Other cryptocurrency exchanges have recognized the potential of esports. As Cointelegraph reported, leading derivatives exchange FTX recently signed a seven-year deal with professional esports league the League Championship Series LCS. In June of this year, FTX sealed a naming rights deal with esports giant TSM valued at $210 million.

While estimates vary, the projected market size of the global esports industry is over $1 billion in 2021. Other estimates suggest the industry revenue could top $6 billion over the next six years. Although these figures are small when compared with the global video game industry, they represent significant growth for a sub-sector that was barely recognizable from just a few years ago.

FTX launching NFT sports platform, backs LCS esports league with 7 year deal

August 4, 2021 Coin Telegraph

Coin Telegraph

FTX is teaming up with Dolphin Entertainment to create an NFT marketplace that will target brands within sectors such as sports, entertainment, gaming, esports, and charity.

FTX is launching an NFT platform centered on sports and entertainment and has also stitched up a new sponsorship with professional esports league, the League Championship Series LCS.

According to Variety, FTX U.S. is teaming up with Dolphin Entertainment to create a “large scale” NFT marketplace that will target brands within the sports, entertainment, gaming, esports and charity industries to name a few.

We're beyond excited to team up with Dolphin Entertainment to create an NFT marketplace for major sports and entertainment brands—including film, television, music, gaming, eSports, culinary, lifestyle and charity industries.

Dolphin Entertainment FTXhttps://t.co/RgKXuWfViF
— FTX (formerly Blockfolio) (@blockfolio) August 2, 2021

“We are excited to build marketplaces with Dolphin, both because of their ability to access content and IP, but also because they are leaders in public relations and influencer marketing for every major vertical of entertainment,” said Brett Harrison, president of FTX U.S.

“There are several items on the horizon that we can’t wait to launch together,” he added.

Dolphin Entertainment is a Florida-based TV and film production company that owns several independent PR and marketing firms which service the sectors outlined for the new NFT marketplace.

Details are sparse on the launch date or what blockchain will be utilized, however Dolphin will work alongside FTX to provide the branding, production and marketing of the NFT platform, while FTX will provide the backbone with crypto exchange services and blockchain tech development.

Related: Top Shot to sell exclusive NFT moments at live basketball games

FTX is also backing the professional LCS esports league for Riot Games’ League of Legends (LoL). According to an Aug.4 announcement from LoL, the exchange has signedd a sponsorship deal for seven years.

FTX previously signed a naming rights deal in June to sponsor esports brand “Team SoloMid” for $210 million. However, the team was promptly barred from donning the FTX’s logo in esports competitions hosted by Riot Games, as it violated the game developers' guidelines about crypto exchange partnerships. The team is currently allowed to bear the logo outside of North America and online via social media.

The new partnership is the largest sponsorship deal Riot has signed for an esports league, however, FTX’s monetary outlay is undisclosed at this stage.

“Starting this weekend, fans will notice FTX branding on the LCS broadcast around the most valuable currency in League of Legends: Gold. Player net worth, total team gold and those rollercoaster gold graphs will all be presented by FTX,” the announcement read.

FTX will also sponsor the LCS most improved player award that is voted on each season.

The latest partnership adds to FTX's list of sponsorship deals this year which includes pro-baseball league the MLB, a $135 million 19-year naming rights deal for Miami Heat’s home stadium, and the $210 million naming rights deal for Team SoloMid.

FTX is a popular crypto and derivatives exchange fronted by ambitious billionaire Sam Bankman-Fried. The firm recently raised $900 million in a Series B funding round at a valuation of $18 billion.

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FTX becomes official crypto sponsor of MLB

June 23, 2021 Coin Telegraph

Coin Telegraph

Sam Bankman-Fried, founder and CEO of FTX and Alameda Research, announced the new partnership on Wednesday.

Crypto derivatives exchange FTX has become an official sponsor of Major League Baseball, setting the stage for broader mainstream recognition of digital assets.

As part of the sponsorship deal, which is expected to last for at least five years, every Major League umpire will receive an FTX patch on their uniform, FTX founder and CEO Sam Bankman-Fried tweeted Wednesday. Over time, the agreement is expected to evolve to include collaboration on the design of world-leading brands.

“It's not the only partnership we were considering, but the enthusiasm and creativity of the MLB team made it the one we were excited for,” he said.

1) We're really excited to partner with @MLB!

FTX is now the official crypto sponsor of Major League Baseball.https://t.co/QngD1flayG
— SBF (@SBF_Alameda) June 23, 2021

The MLB teased the announcement just one day earlier in a tweet that said: “Big things are coming.” The tweet has since received over 12,900 likes.

FTX made history earlier this year by becoming the first crypto company to secure the naming rights for a major sports arena. The derivatives exchange struck a 19-year deal with Miami-Dade County to name the Miami Heat’s home stadium the FTX Arena.

The FTX brand appears in other domains as well. Earlier this month, the exchange reached a $210 million deal to have its name connected with global esports brand Team SoloMid. The esports brand is now referred to as TSM FTX.

In terms of real spot volumes, FTX is now a top 15 cryptocurrency exchange in the world. Over the last 24 hours, the exchange processed more than $344 million in volume, according to Messari.

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eSports

From real to virtual pro sports

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