FTX Intensifies its Marketing Efforts with MLB Partnership and Integration with CoinGecko
Cryptocurrency derivatives platform FTX’s marketing efforts now involve partnership with Major League Baseball as a sponsor and the organization’s official crypto-exchange brand.
The company says the partnership is the first-ever between a major US professional sports league and a crypto exchange. Sam Bankman-Fried, founder and CEO of FTX said,
“One of FTX’s goals is to get our name out there; we think we have a best-in-class product and user experience and are ready to share that with the world. There are few partners that can help like MLB.”
The company is looking to make a positive impact, he said, adding: “This partnership is no different, and we are working on a bunch of initiatives to give back to the world.”
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
FTX.US will become the MLB’s first-ever umpire uniform-patch partner, which means all umpire uniforms for the regular season, postseason, spring training, and other special games starting in mid-July will bear an FTX.US logo patch.
The exchange has also attained group players' rights which allows it to use players’ highlights in content creation. MLB Chief Revenue Officer Noah Garden said in a statement,
“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.”
“Our fans have been early adopters in using new technologies to engage with our game.”
Besides MLB, FTX has also integrated with popular crypto tracker CoinGecko which boasted over 110 million visits in May. CoinGecko now features a ‘buy’ sign besides Bitcoin and Ether with the link of exchange’s related services, including FTX Pay and FTX NFTs.
— Bluntz (@SmartContracter) June 24, 2021
Meanwhile, FTX’s first foray into the world of sports started with the Miami Heat’s National Basketball Association stadium officially becoming FTX Arena by striking the first NBA stadium deal (a 19-year long deal) with a crypto firm.
Earlier this month, the exchange bought 10-year naming rights to eSports team TSM for $210 million. Before that, in April, American football quarterback Trevor Lawrence also signed an endorsement deal with FTX and received his first payment exclusively in crypto.
Last year in November, Bankman-Fried, made the second-biggest contribution of $5.2 million to Joe Biden’s presidential campaign.
FTX started this marketing spree by acquiring the crypto tracking app Blockfolio in late August 2020, which now offers trading features and sponsored several podcasts in the crypto sector, including Up Only and Technical Roundup.
The exchange, which has its own $2.2 billion market cap token FTT, has no plans to go public, but last week the CEO said, “it’s something we’d be silly not to be doing our due diligence on.”