The deal, which the league said was the first between a professional sports league and a cryptocurrency exchange, was executed to raise brand awareness for FTX and promote continued innovation from MLB. Under the deal, FTX.COM and FTX.US become the Official Cryptocurrency Exchange brand of MLB.
In addition, FTX.US has formed an agreement with MLB Players Inc., a subsidiary of the MLB Players Association that manages all of the organization’s commercial activities. FTX will have group player rights that will allows the organization to use highlights of players in content creation.
The umpire uniform patch will begin with the MLB All-Star Game on July 13 and will feature an FTX.US logo patch that will remain for the regular season, postseason, spring training and jewel event games.
“It’s an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of America’s national pastime,” FTX CEO and Founder Sam Bankman-Fried said. “FTX.COM and FTX.US are excited to enter this first-of-its-kind partnership with Major League Baseball. At FTX, we strive each day to make a positive global impact, and there is no better partner for us to achieve this goal with than with MLB and its international fan base.”
MLB Chief Revenue Officer Noah Garden said: “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. FTX quickly cultivated itself into a worldwide leader in the ever-evolving cryptocurrency industry and continues to build on its already impressive reputation.”