According to a report released by the Miami Herald yesterday, FTX is preparing a cryptocurrency exchange to complete an agreement to sponsor the home of the NBA Miami Heat team – a move that will give the stock exchange exclusive naming rights for the 19600 arena.
Miami-Dade County is close to signing a cryptocurrency company that will replace American Airlines as a sponsor of the rights to downtown Miami Heat Square, according to several sources – an agreement that will give the NBA the top spot in Bitcoin and other cryptocurrencies. “Report.
The Herald also noted that “bits of internet traffic” indicate that FTX is preparing for the transition with the registration of the internet domain “ftxarena.com” as well as the purchase of FTXarena social media pens.
Reports from 2019 show that the district is looking for a new sponsor and hopes to give a new name to the arena by 2020. American Airlines previously paid $ 2 million a year to sponsor the ring.
The move seems to be part of a broader strategy aimed at popularizing cryptocurrency and DeFi from SBF’s businesses and investments.
In this case, the attempt to get the rights to the famous square name may be a product of Blockfolio co-founder Edward Moncada. In the Top 100 Cointelegraph series, Moncada’s dossier (17th place) showed its interest in how cryptocurrencies intersect with various elements of popular culture, including sports:
Now that it has become an integral part of FTX marketing and given Moncada’s passion for branding and mass communication, Cointelegraph will not be surprised to see major FTX and Blockfolio awareness initiatives among a much wider audience that is not cryptocurrency. holders. “In terms of demographic synergies between sports, music and sometimes cryptocurrency, the Cointelegraph will be interested in seeing if these sectors have greater reach.”