Major League Baseball Teams Up With Cryptocurrency Exchange FTX

Major League Baseball Players inc. has teamed up with cryptocurrency exchange FTX in the sports league’s first crypto partnership.The long-term global partnership will see the cryptocurrency exchange holding group player rights which means the company can use players highlights for content creation.

The partnership will see FTX becoming the league’s first ever umpire patch partner and provides FTX with the worldwide marketing rights to use the MLB logo.

As cryptocurrency partnerships with mainstream companies become increasingly normalised, a move by FTX into the professional sporting arena will further bring cryptocurrency into the mainstream view. The exposure to the global MLB fan base will increase the visibility of FTX which will increase the adoption of crypto partnerships to global sports leagues.

FTX CEO and Founder Sam Bankman-Fried commented on the partnership:

"It's an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of America's national pastime. FTX.COM and FTX.US are excited to enter this first-of-its-kind partnership with Major League Baseball. At FTX, we strive each day to make a positive global impact, and there is no better partner for us to achieve this goal with than with MLB and its international fan base. 

Here’s what MLB Chief Revenue Officer, Noah Garden, had to say:

"This is an incredibly exciting announcement for everyone in Major League Baseball as we partner with a global leader in the early stages of their unbelievable growth. FTX quickly cultivated itself into a worldwide leader in the ever-evolving cryptocurrency industry and continues to build on its already impressive reputation. Our fans have been early adopters in using new technologies to engage with our game. We cannot wait to start collaborating with Sam and the entire FTX team."

A number of sports teams and leagues have partnered with cryptocurrency companies over the past year. The Professional Fighters League (PFL) was the first sports league to launch a Fan Token on blockchain-based rewards and engagement app Socios.com, in April of this year. The addition of Major League Baseball to the crypto space marks a strong move in the direction of global adoption by sports teams.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.