Cal Memorial Stadium sold its naming rights to FTX in its second vital branding move. This business was started after purchasing the naming rights to the Miami Heat Arena in March.

FTX is a Crypto-derivative exchange that bought Cal Memorial Stadium from the University of California. This FTX initiative aims to introduce its brand into the stadium.

This derivatives exchange owned by Sam Bankman-Fried explores further into the sport. That is why; they struck a 10-year, $ 17 million deal just for the naming rights of the university stadium.

The stadium’s home team, the Cal Golden Bears, will now wear the new branding to create more crypto awareness. As stated by Bloomberg, from now on, whenever the home team plays their game this season, they will wear the latest FTX Field mark.

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Additionally, the university’s $ 17 million naming rights deal is paid for in cryptocurrency assets. This current deal is the latest foray into sports sponsorship to raise awareness about crypto.

FTX US partner of Miami Heat basketball team

Last March, FTX.US, a North American sector of the same exchange, signed a naming rights contract with the Miami Heat Basketball team. Due to this partnership, the home stadium team was renamed FTX Arena.

The organization is also becoming the formal crypto exchange of the MLB {Major League Baseball}. This is a segment of the sponsorship contract that is expected to last approximately 5 years. In fact, all Major League Baseball umpires should wear the corporate mark on their respective uniforms.

Countless FTX executives also have centuries-old ties to the Cal Golden Bears. For example, Sina Nader, the COO (Chief Operating Officer), is an alternate member of the Golden Bears during her undergraduate years.

Last June, Tom Brady, the seven-time Super Bowl champion quarterback, and his wife Gisele Bündchen became partners in the Crypto derivatives exchange to encourage crypto adoption. As a result of this deal, Bündchen and Brady collected stakes in FTX, each receiving a crypto in exchange.

Moreover, according to the report of our source on the 20^e July, FTX breaks the crypto funding record. They increased their funding to $ 900 million to take a position of “exchange decacorn”. This particular company is worth over $ 10 billion.

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This latest agreement by FTX as an official sponsor of Major League Baseball paved the way for a wider and more acceptable awareness of digital assets.

According to Sam Bankman-Fried’s Wednesday tweet, that five-year contract could evolve to include alliances.

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