FTX becomes the Golden State Warriors’ official cryptocurrency platform and NFT marketplace as part of a new breakthrough deal.
On Tuesday, the Dubs announced a multi-year global rights deal with leading cryptocurrency exchange FTX. Although details of the arrangement were not released, insiders indicate that it is worth $10 million and makes FTX the team’s official cryptocurrency platform and NFT marketplace.
As part of the arrangement, FTX will create a brand presence throughout the Chase Center in addition to forging relationships with the Warriors’ G League affiliate in Santa Cruz and their Warriors Gaming team in the NBA 2K League.
As Warriors President and COO Brandon Schneider said on the occasion:
“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.”
Curry inked his own individual brand deal with FTX in September, as part of the $40 million he earns a year in endorsement deals, per Forbes. Steph also got equity in the company as part of the partnership, which will help FTX expand the reach of its brand and endorse the viability of cryptocurrency.
The pacts with the Warriors and Curry are just part of a larger portfolio of partnerships FTX has made in 2021 across the world of sports. It struck deals for naming rights to the Miami Heat’s arena and California Golden Bears’ football stadium in Berkeley. Major League Baseball began featuring FTX patches on its umpires’ uniforms over the summer. Individual athletes also endorsing the brand include Tom Brady, Trevor Lawrence, David Ortiz, and Udonis Haslem.
FTX also entered the NIL space last month in partnering with the University of Kentucky’s men’s basketball team. As part of the deal, Wildcats players will receive monthly payments on an FTX debit card, with the option to create non-fungible tokens on the FTX marketplace from which they’d receive a majority of the sales revenue.
“Through our partnership with Stephen Curry, we were introduced to the Warriors organization, and we are excited to partner with a franchise that aligns with our core values,” said Brett Harrison, president of FTX US. “The FTX US NFT Platform will provide a leading, safe and secure venue for the Warriors international fan base to access exclusive collectibles from the franchise. Alongside the NFT drops, working with the Warriors will increase our ability to create a positive change, not only domestically but internationally, with one of the most prestigious professional sports franchises in the world.”