FTX.US, the US subsidiary of the crypto derivatives exchange FTX, has announced a multi-million dollar sponsorship deal with the NBA team Golden State Warriors. With this new partnership, FTX has added another sports partnership to its pile of marketing deals made in 2021.
As per the announcement, FTX.US will become the NBA team’s official crypto partner and NFT marketplace beginning in early 2022. In addition to becoming its first international rights partner, FTX.US will market its branding on the team’s t-shirts, basketball pole pads, and more.
While the financial terms of the deal have not been disclosed, anonymous sources told CNBC that the deal is worth more than $10 million.
FTX and FTX.US have made several partnerships with celebrities and organizations outside the crypto industry. It recently partnered with NFL quarterback Tom Brady and MLB All-Star Shohei Ohtani, along with contracts signed with Major League Baseball and League of Legends Championship Series (LCS).
Warriors President and Chief Operating Officer Brandon Schneider said of the announcement:
“Cryptocurrency has a well-established worldwide community and is going to continue to be a major part of the sports, media and entertainment industries. In our conversations with FTX, we quickly realized our joint desire to innovate around cryptocurrency integration and adoption, including the role NFTs play in global fan engagement.”