Sports and Cryptocurrency News: Week of February 7-13, 2022
Crypto.com has partnered with Miami GP, FTX joins NIL deals and more esports and crypto highlights over the past week.
Sports and Crypto News: First DAO sports sponsorship
Blockchain, considered a relatively decentralized option compared to the other top 10 chains (and the operator of what is reportedly the best decentralized stablecoin, UST), has signed its first sports sponsorship deal with MLB’s Washington Nationals.
This is the first time a DAO governance proposal has secured funding of this magnitude. Terra owners voted to accept the proposal, and a few days later Terra announced the partner.
The move is also important because it comes close to the actions of lawmakers in Washington, DC. Terra will have a variety of properties around the baseball venue, and there are talks of the team accepting crypto payments in the near future. When countries adopt Terra’s UST stablecoin, it will be the first major pillar of UST blockchain adoption and a major step forward for the Terra team as they seek to expand usage capabilities beyond just using Anchor.
Sports and Crypto News: FTX joins NIL
Names, images and the like are less than a year old in many US states, but that hasn’t slowed down the ever-aggressive FTX in a busy state. The exchange is partnering with Florida State Softball, NIL’s latest filing, after previously finding deals with the UCLA women’s basketball team. These moves demonstrate FTX’s growing initiatives to break into the women’s sports sponsorship space. FSU was unable to offer team-wide offers, so FTX made each player a sponsorship offer.
Meanwhile, the Kansas Athletics announced an agreement with NFT’s white-label Mercury solution. NIL transactions, from crypto and beyond, continue to emerge as funders discover value.
Crypto & Sports News: Crypto.com Hits Tarmac With New Miami Grand Prix Deal
Crypto.com has made headlines for the past year with celebrity sponsorship deals in the sports arena, and the exchange made a comeback last week. Crypto.com has reached an agreement with Formula 1’s Miami GP as its official partner. F1 racing is booming in the States, fueled by the Netflix series Drive To Survive.
Sports and Crypto News: 1992 Manchester United Legends to form a sports DAO
Former Manchester United stars Gary Neville and Paul Scholes are reportedly launching a sports-focused DAO last week. CO92, as the DAO is called, will “mainly focus on strategic investments owned by football-related companies and projects,” according to reports published in the newspaper in recent days.
Sports-focused DAOs have had limited success, though buying stars like these is often insignificant. Although details are still limited, it will be interesting to see what Neville and Scholes can create in this space.
Sports and Crypto News: All-Star NFT for the NBA in Cleveland
The NBA All-Star Game is the centerpiece of the season, bringing together some of the NBA’s brightest stars for a bespoke series of events. This year, being held in Cleveland, the All-Star Game pitch was unveiled and the league will release commemorative NFTs, which are digital representations of several different historic All-Star pitches from previous years.
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