FTX Strikes Sponsorship Deal With NBA’s Golden State Warriors

Tanzeel Akhtar

Updated Tue, Dec 14, 2021, 11:35 AM2 min read

FTX.US, the American arm of the FTX cryptocurrency exchange, signed a global sponsorship deal with the National Basketball Association’s Golden State Warriors.

FTX.US will become the San Francisco-based team’s official cryptocurrency platform and marketplace for NFTs, or non-fungible tokens. The franchise will start using the platform to sell NFTs in early 2022.
FTX branding will also appear on the basketball pole pads and press table for the Santa Cruz Warriors, the team’s G League affiliate. The G League is the NBA’s official minor league basketball organization.
Terms of the deal were not made public. According to a CNBC report citing unidentified people familiar with the matter, it is worth about $10 million.
A spokesperson for FTX declined to comment on the deal’s value.
“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,” said Warriors President and Chief Operating Officer Brandon Schneider.
Crypto companies are piling into sports as a way of getting broader brand recognition. Last month, Crypto.com paid a reported $700 million to rename the Los Angeles Staples Center. In March, FTX secured naming rights to the Miami Heat Arena for $135 million, and in August it signed a $17.5 million, 10-year agreement with Cal Athletics for the naming rights to the field at California Memorial Stadium.
To mark the agreement, FTX.US and the Warriors will give three bitcoin to local organizations that address educational equity.
In April, the Golden State Warriors began auctioning a series of commemorative NFTs. The collection included various editions of the team’s six NBA Championship rings and 10 commemorative ticket stubs. The sale finished with its 1-of-1 6x World Championship Ring selling for 285.111 ETH at $871,591.27.

UPDATE (Dec. 14, 19:53 UTC): Adds no comment from FTX spokesperson.

When I Claim My $4,000 Social Security, Will My Wife Automatically Get a Spousal Benefit?
My wife is 76, born in 1948. She retired at full retirement age and currently collects $1,076 per month. I will be retiring and start collecting at 70 this year (I was born in 1954). When I collect $4,000+ per month does her monthly payment go up to spousal benefit automatically or does it have […] The post When I Claim My $4,000 Social Security, Will My Wife Automatically Get a Spousal Benefit? appeared first on SmartReads by SmartAsset.
SmartAsset
$3 trillion could be injected into the U.S. economy without any federal spending by tweaking this corner of the mortgage market, ‘Oracle of Wall Street’ says
"Rarely have I seen such a true win-win scenario for the government, Wall Street and the U.S. consumer."
Fortune
The Federal Reserve Just Indicated Social Security Could Get a Bigger 2025 Cost-of-Living Adjustment (COLA) Than Expected
A bigger COLA may sound great, but it has some big drawbacks for retirees too.
Motley Fool
Grant Cardone Slams Biden's Tax Proposal As 'Another Attempt To Destroy Middle-Class America'
Real estate mogul Grant Cardone took aim at the Biden administration's proposed 25% tax on unrealized gains on taxpayers with wealth greater than $100 million, asking his followers on X to imagine the value of their homes or stocks increasing $400,000. "YOU would owe $25,000 without selling," Cardone posted. "Another attempt to destroy middle-class America." The Budget of the United States Government for fiscal 2025 proposes a new minimum tax on income and unrealized capital gains — for the smal
Benzinga
Tesla Has a New Model. It Should Boost Sales.
Tesla has adjusted its model lineup in a bid to boost sales of its most popular vehicle. The new version is more attractive than the old—and looks like a good deal—while tax credits continue to skew value in the U.S. electric-vehicle market. Over the weekend, Tesla added a long-range rear-wheel drive Model Y to its website that gets about 320 miles of range per charge.
Barrons.com
Warren Buffett Bought $9.2 Billion of This Stock Last Year, and He Could Buy Even More in 2024
One of Buffett's favorite stocks of all time topped his list of buys in 2023.
Motley Fool
Seeking at Least 8% Dividend Yield? Analysts Offer 2 Dividend Stocks to Buy
The last inflation report, which came in worse than expected, had investors worried about the Federal Reserve’s plans for interest rates this year. The central bank held rates steady in its most recent decision, cooling fears that a hike is in the offing. When combined with moderate gains in the Q1 earnings reports, it makes sense that we saw stocks rebounding as confidence in the market was restored. However, according to JPMorgan’s chief market strategist Marko Kolanovic, we’re not out of the
TipRanks
Here's What the Average Gen Xer Has Saved for Retirement. The Number Might Surprise You
Unfortunately, it's a sum that indicates that many 50-somethings' savings need work.
Motley Fool
U.S. Money Supply Is Doing Something So Rare That It Hasn't Happened Since the Great Depression -- and a Big Move in Stocks May Follow
M2 money supply hasn't done this in nine decades.
Motley Fool
The Social Security Cost-of-Living Adjustment (COLA) Forecast for 2025 Was Just Updated, and It Comes With Bad News and Worse News for Retirees
Social Security benefits are on track to get a smaller cost-of-living adjustment (COLA) next year, and the pay raise may not be enough to offset inflation.
Motley Fool

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

FTX Strikes Sponsorship Deal With NBA’s Golden State Warriors

Recommended Stories

When I Claim My $4,000 Social Security, Will My Wife Automatically Get a Spousal Benefit?

$3 trillion could be injected into the U.S. economy without any federal spending by tweaking this corner of the mortgage market, ‘Oracle of Wall Street’ says

The Federal Reserve Just Indicated Social Security Could Get a Bigger 2025 Cost-of-Living Adjustment (COLA) Than Expected

Grant Cardone Slams Biden's Tax Proposal As 'Another Attempt To Destroy Middle-Class America'

Tesla Has a New Model. It Should Boost Sales.

Warren Buffett Bought $9.2 Billion of This Stock Last Year, and He Could Buy Even More in 2024

Seeking at Least 8% Dividend Yield? Analysts Offer 2 Dividend Stocks to Buy

Here's What the Average Gen Xer Has Saved for Retirement. The Number Might Surprise You

U.S. Money Supply Is Doing Something So Rare That It Hasn't Happened Since the Great Depression -- and a Big Move in Stocks May Follow

The Social Security Cost-of-Living Adjustment (COLA) Forecast for 2025 Was Just Updated, and It Comes With Bad News and Worse News for Retirees