In its first formal partnership with a crypto firm, the MLB has collaborated with FTX, a cryptocurrency exchange. The new partnership will last for a long time and will include uniform patches for umpires.
A press release broke the news earlier this morning, adding that FTX has reached an agreement with MLB Players Inc., a subsidiary of the MLB Players Association, that will allow the company to use player highlights in its content.
This news comes after the exchange announced a partnership with the Miami Heat and the renaming of the Miami Heat’s stadium to FTX Arena. With its new collaborations, the firm appears to be expanding its reach into professional sports.
Major League Baseball umpires will wear the FTX patches for the first time at the All-Star Game on July 13th. Throughout the regular season, postseason, and spring training, the FTX patches will be worn on all umpire uniforms.
FTX will now be able to use MLB emblems in their own marketing campaigns all around the world. On its commercials, as well as MLB games, MLB.com, MLB Network, MLB.TV, and different MLB social media channels, fans will see FTX and MLB logos.
Sam Bankman-Fried, the CEO of FTX, said the new alliance is an honour and that he is looking forward to disclosing more information.
It’s yet unclear whether this collaboration will lead to a wider acceptance of cryptocurrencies in the MLB. Grayscale teamed with the New York Giants earlier this year. Pete Guelli, the Giants’ Chief Commercials Officer, stated that a collaboration with Grayscale might aid them in navigating the market.
More collaborations between crypto-related businesses and sports teams could aid in acceptance of cryptocurrency in professional leagues. Sports teams, including the Dallas Mavericks, San Jose Sharks, Oakland Athletics are now accepting cryptocurrencies for tickets and other merchandise.