Ben Strack

Two years ago at the 2021 All-Star Game in Denver, Major League Baseball (MLB) umpires began donning an FTX.US patch on their uniforms as part of a broader partnership with the company.&nbsp;



Now, the sports league is set to introduce a “virtual ballpark” experience for several of this year’s All-Star events, starting with the annual celebrity softball game on Saturday.



As part of the experience, users can participate in a scavenger hunt to find 18 virtual cards from NFT gaming company Sorare. The first 250 people to find them all will win a digital card — an NFT built on top of the Ethereum blockchain.&nbsp;&nbsp;



“We’re excited to be working with the MLB on this new virtual ballpark and create more ways for fans to interact and experience baseball through virtual programming,” a Sorare spokesperson told Blockworks. “Following this scavenger hunt, we’ll be working with MLB on additional activations with regular and postseason games.”&nbsp;



Sorare <a href="https://www.mlb.com/news/sorare-to-launch-nft-game-for-mlb-mlbpa">partnered</a> with the MLB last year to launch a free game allowing players to create player lineups using the NFT cards and join weekly competitions based on real-life player performance.



“The company’s focus on transforming fandom through an innovative combination of sports, technology and gaming to let fans truly own a piece of the game they love is unique and goes beyond borders — allowing us to bring the love of baseball to more fans across the globe,” MLB Commissioner Rob Manfred said in a statement at the time. &nbsp;



Metaverse technology firm Improbable helped the MLB develop the virtual ballpark using its Morpheus technology. It features interoperability with other metaverses within Improbable’s MSquared network.



Virtual ballpark attendees will also get a commemorative digital ticket created by Candy Digital — a company <a href="https://blockworks.co/vaynerchuck-novogratz-partner-with-fanatics-for-new-nft-company-candy">launched in June</a> with the backing of Fanatics Executive Chairman Michael Rubin, Galaxy Digital CEO Mike Novogratz and entrepreneur Gary Vaynerchuck.



Read more: <a href="https://blockworks.co/news/digital-artist-s-prestons-entrance-into-the-nft-space">Digital Artist S. Preston’s Entrance into the NFT Space</a>



Rusty Matveev, chief strategy officer at social marketplace Calaxy, said while MLB notoriously has an older fan base than other sports, the league’s latest efforts are a way to change that.&nbsp;



“This is one effort toward bringing in a younger crowd that&#8217;s used to the world of online games such as Roblox and the metaverse,” he told Blockworks. “It brings in a great sense of ownership and engagement and involvement for the fans.”&nbsp;



MLB did not return a request for comment.



The virtual ballpark and its inclusion of NFTs marks the latest leap into the crypto world for the MLB.&nbsp;



The league in June 2021 <a href="https://www.mlb.com/news/mlb-ftx-cryptocurrency-exchange-partnership">revealed</a> a “long-term, global partnership” with FTX, as the crypto company — which ultimately collapsed in November 2022 — became MLB’s first-ever umpire uniform patch partner.&nbsp;



MLB chief revenue officer Noah Garden called FTX “a global leader in the early stages of their unbelievable growth” in a statement at the time, adding: “Our fans have been early adopters in using new technologies to engage with our game.”



The pro baseball entity joined forces — also in June 2021 — with Candy Digital, which MLB noted was building an NFT ecosystem for the league. The link-up led to the release of an NFT of Lou Gehrig’s famous “Luckiest Man” speech that he delivered on July 4, 1939, after being diagnosed with ALS.



MLB&#8217;s partnership with Candy Digital is in its third consecutive year, as the company is offering player-focused digital collectibles called “ICONs” and continuing to issue NFT commemorative tickets in the 2023 season.  



Fans redeemed nearly 200,000 collectible tickets last year, according to the company.



Matveev said though the metaverse is currently limited by the adoption of available hardware, products like Apple Vision Pro and Meta’s Oculus are likely to help the space grow over time.&nbsp;&nbsp;



“The effort is more for tomorrow versus today, but now is the time to start,” he added. “I think MLB has had an incredible track record of being a leader in the space of innovation.”



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

FTX partnership to NFTs in new ‘virtual ballpark’: MLB’s crypto journey continues

<div id="highlights-block_6311f61a63b1e" class="highlights">
 <ul>
 <li>The Nationals billed the February agreement as the first between a DAO and a sports franchise</li>
 <li>It is unclear whether Terra or the Nationals are seeking to exit the deal </li>
 </ul>
 
</div>



Television watchers of the Washington Nationals’ home game against the Athletics Wednesday could still see Terra — the failed stablecoin protocol — branded in bold white font on the ample empty seats behind home plate.&nbsp;



There&#8217;s also an in-stadium venue, the &#8220;<a href="https://www.mlb.com/nationals/tickets/premium/nightly/terra-club" target="_blank" rel="noreferrer noopener">Terra Club</a>,&#8221; which provides “unparalleled luxury” at Nationals Park, the MLB team’s website says. A Nationals ticket representative confirmed to Blockworks that the club still holds the Terra name.



The Terra Club offers pre-game meals for fans at its all-inclusive chef&#8217;s table before they head to their seats. But a fun day at the ballpark is likely no longer what crypto investors would associate with Terra, whose algorithmic <a href="https://cms.blockworks.co/?s=terra" target="_blank" rel="noreferrer noopener">stablecoin</a> TerraUSD (UST) and LUNA token crashed several months ago.&nbsp;



Terra and the Washington Nationals <a href="https://cms.blockworks.co/washington-nationals-latest-pro-sports-team-to-strike-crypto-deal/" target="_blank" rel="noreferrer noopener">revealed the sponsorship agreement</a> in February, worth more than $38 million, in what the team billed as the first deal between a DAO and a sports franchise. The Nationals said in a statement at the time that UST could be accepted as a payment method at Nationals Park next season.



Terraform Labs Founder Do Kwon had urged the Terra community to partner with a then-unnamed sports franchise in a Jan. 31 proposal. The money would cover $7.5 million of annual fees for five years and $650,000 to cover construction, renovation and redesign costs, he said.



The Terra-Nationals agreement appears to remain in place despite the crypto company’s tarnished reputation. It is unclear whether Terra or the Nationals are seeking to exit the deal.



Spokespeople for Terraform Labs and Washington Nationals did not return requests for comment.



<figure class="wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex">
<figure class="wp-block-image size-large"><a href="https://cms.blockworks.co/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14.png" target="_blank" rel="noopener"><img loading="lazy" decoding="async" width="1024" height="560" data-id="30045" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png" alt="" class="wp-image-30045" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=1536 1536w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=2048 2048w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/09/Screen-Shot-2022-09-02-at-15.42.14-1024x560.png?w=50 50w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a><figcaption>Terra and its logo seen littered behind home plate at a recent Nationals game. Source: <a href="https://www.youtube.com/watch?v=lzPwXYaSC4I" target="_blank" rel="noreferrer noopener">MLB</a></figcaption></figure>
</figure>



Terra’s LUNA coin was the <a href="https://coinmarketcap.com/historical/20220209/" target="_blank" rel="noreferrer noopener">ninth-largest</a> by market capitalization at the time of the deal, worth roughly $23 billion, while UST was ranked 18th at $11.2 billion. Both tokens have collapsed almost entirely since UST de-pegged from the dollar, with the new LUNA iteration garnering less than $300 million in nominal value.



A drop in liquidity made it easier for an attacker to <a href="https://cms.blockworks.co/luna-foundation-guard-to-support-struggling-ust-peg-with-btc-reserves/" target="_blank" rel="noreferrer noopener">push UST off its $1 peg</a> on May 7. In an <a href="https://www.coinage.media/watch" target="_blank" rel="noreferrer noopener">interview with Coinage</a> last month, <a href="https://cms.blockworks.co/do-kwon-i-think-i-should-have-known-the-risks-of-ust-much-better/" target="_blank" rel="noreferrer noopener">Kwon said</a> he “should have known the risks of UST much better.” He added that the next incarnation of the Terra blockchain will be more community focused.



<h3 class="wp-block-heading">Crypto in sports goes far beyond the Terra-Nationals deal</h3>



Nationals Park aside, crypto companies with less reputational damage remain in the public eye at sports venues.&nbsp;



The New York Mets, a division rival of the Nationals, has the <a href="https://tezos.com" target="_blank" rel="noreferrer noopener">Tezos blockchain</a> brand around its home stadium, Citi Field. Mets owner Steve Cohen is laying the groundwork for an investment firm focused exclusively on cryptocurrency, <a href="https://cms.blockworks.co/steve-cohen-building-out-crypto-investment-firm/" target="_blank" rel="noreferrer noopener">sources told Blockworks</a> last month.



Perhaps most notably, <a href="https://cms.blockworks.co/crypto-com-cmo-on-how-company-went-from-app-to-global-brand/" target="_blank" rel="noreferrer noopener">Crypto.com in December bought the naming rights</a> to the professional sports arena in Los Angeles — home of the Lakers, Clippers, Kings and Sparks — formerly known as the Staples Center. The 20-year deal cost the company $700 million.&nbsp;



Nine months earlier, rival crypto exchange FTX secured a whopping 19-year branding deal for NBA team Miami Heat&#8217;s home stadium, worth $135 million. Major League Baseball umpires continue to wear an FTX patch on their uniforms stemming from the league’s deal with the crypto exchange that began last year.&nbsp;



<a href="https://www.sportbusiness.com/news/exclusive-crypto-com-pulled-out-of-huge-champions-league-sponsorship-at-last-moment/" target="_blank" rel="noreferrer noopener">SportBusiness reported Wednesday</a> that a potential deal between Crypto.com and the <a href="https://www.uefa.com/uefachampionsleague/" target="_blank" rel="noreferrer noopener">UEFA Champions League</a> — estimated to be worth about $100 million per season — fell through in May. The cause of the negotiation halt was thought to be due to legal advice Crypto.com received about the scope of its licenses to trade and operate based on conversations with European regulators, sources told the media outlet.



A spokesperson for the company declined to comment.&nbsp;



Though some crypto companies told Blockworks in July they were implementing cost-saving measures due to the segment’s downturn, others said they were <a href="https://cms.blockworks.co/how-are-crypto-companies-adjusting-marketing-amid-the-downturn/" target="_blank" rel="noreferrer noopener">doubling down on advertising spend</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

cryptocurrency

‘Unparalleled Luxury’: Nationals Still Pitching Exclusive ‘Terra Club’

<div id="highlights-block_62704a8e9d83b" class="highlights">
 <ul>
 <li>DraftKings seeks to continue delving deeper into the NFT space by “aligning with Web3-centric partners”</li>
 <li>The company launched its first in-house NFT collection in March ahead of the NCAA’s college basketball tournament</li>
 </ul>
 
</div>



DraftKings has teamed up with NFT company <a href="https://metabilia.io" target="_blank" rel="noreferrer noopener">Metabilia</a> as it looks to continue capturing what the company considers to be rising demand for digital sports collectibles.&nbsp;



The sports betting company is set to release NFTs featuring some of the youngest Major League Baseball stars as part of the collaboration. The collection includes NFTs of Vladimir Guerrero Jr., Ronald Acuña Jr., Shane Bieber, Wander Franco, Joe Musgrove and Fernando Tatís Jr.&nbsp;



Called NFT Membership collectibles, owners will be rewarded with various event-based NFTs throughout the season, which will correspond to milestones or accomplishments for the respective athletes.



<div class="wp-block-image"><figure class="alignright size-medium"><img loading="lazy" decoding="async" width="300" height="300" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg" alt="" class="wp-image-20874" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=150 150w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=257 257w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=261 261w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=219 219w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=50 50w, https://blockworks-co.imgix.net/wp-content/uploads/2022/05/Vlad-Platinum-1-300x300.jpg?w=609 609w" sizes="auto, (max-width: 300px) 100vw, 300px" /></figure></div>



“DraftKings will continue to push its footprint within the NFT industry by continuously aligning with Web3-centric partners to produce curated content that resonates with our DraftKings users,” a spokesperson told Blockworks.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“[We will focus] on providing unique experiences and collectibles in the sports and entertainment space and a frictionless way for our users to interact with those.”</blockquote>



DraftKings Marketplace, which the company launched last August, will be the exclusive distributor of Metabilia NFTs. The marketplace was already the exclusive distributor of sports-related NFT content from Autograph, a company co-founded by Tom Brady.&nbsp;&nbsp;



Metabilia has multi-year partnerships with franchises in the NFL and NBA and has direct deals with more than 40 athletes.



&#8220;At Metabilia, we are focused on delivering NFT collectible programs that deliver high-quality benefits for the long term, and our Membership NFT programs allow fans to show their support for a young athlete and be a part of his or her journey,” Metabilia CEO Joseph De Perio said in a statement.



DraftKings Marketplace has incorporated many iconic sports stars on its platform, including Derek Jeter’s first-ever NFTs ahead of his Hall of Fame induction last year.



The company <a href="https://cms.blockworks.co/draftkings-links-nfts-to-legacy-products-in-web3-push/" target="_blank" rel="noreferrer noopener">launched its first in-house NFT collection</a> in March ahead of the NCAA’s college basketball tournament.



The <a href="https://marketplace.draftkings.com/lp/2022-college-hoops-nft-collection" target="_blank" rel="noreferrer noopener">2022 College Hoops Collection</a> was the first within a planned Primetime NFT Series that will drop around other major sporting events, Beth Beiriger, DraftKings’ senior vice president of marketplace operations, told Blockworks at the time.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

DraftKings

DraftKings Continues NFT Push With Metabilia Partnership

<div id="highlights-block_61942c1bb283a" class="highlights">
 <ul>
 <li>Ohtani, who joins FTX brand ambassadors Tom Brady, Steph Curry, David Ortiz and others, will be compensated in equity and cryptocurrencies</li>
 <li>FTX US president attributed business’s Q3 growth in part to sports partnerships</li>
 </ul>
 
</div>



Crypto exchange FTX has landed a deal with another high-profile celebrity as it looks to continue pushing its brand awareness within the sports sphere. 



The company announced a long-term partnership with Shohei Ohtani, an All-Star pitcher, designated hitter and outfielder for the Los Angeles Angels. He will serve as a spokesperson for FTX to elevate the company’s brand and increase awareness of the company&#8217;s platform and digital assets more generally.&nbsp;



Ohtani will be compensated in equity and cryptocurrencies. FTX will also make an annual contribution to various charities on Ohtani’s behalf.



The baseball star this year became the first player in Major League Baseball history to be an All-Star as both a pitcher and a hitter. Ohtani was also the first pitcher to participate in the Home Run Derby.



FTX had inked a deal with Major League Baseball earlier this year, which included the league’s umpires wearing an FTX.US logo patch on their uniforms.&nbsp;



The company also partnered with NFL quarterback and seven-time Super Bowl champion Tom Brady in June, and more recently announced similar alliances with two-time NBA Most Valuable Player <a href="https://cms.blockworks.co/ftx-names-stephen-curry-a-global-ambassador/" target="_blank" rel="noreferrer noopener">Steph Curry</a>, NFL Running Back Aaron Jones, and David Ortiz, a retired slugger who won three World Series as a designated hitter for the Boston Red Sox.   



Brett Harrison, president of FTX affiliate FTX US, <a href="https://cms.blockworks.co/ftx-us-reports-512-increase-in-average-daily-volume-in-q3/" target="_blank" rel="noreferrer noopener">previously told Blockworks</a> that sports partnerships forged by its parent companies have helped spur dramatic growth for the business in recent months.&nbsp;&nbsp;



FTX US reported an average daily volume of roughly $360 million in the third quarter, a 512% increase from the prior quarter. Its user count increased by 52% quarter over quarter, though the company declined to share how many users it has.



Other crypto companies have looked to the sports world to boost brand awareness and educate the public about digital assets.&nbsp;



Voyager Digital <a href="https://cms.blockworks.co/voyager-digital-partners-with-dallas-mavericks/" target="_blank" rel="noreferrer noopener">partnered with the Dallas Mavericks</a> last month, and NYDIG announced a deal on Tuesday to become the official bitcoin services partner and platform of the Houston Rockets.&nbsp;



The Rockets will work with NYDIG to expand the bitcoin ecosystem through access, educational programming, and community support initiatives, the organization said in a statement. NYDIG, which is paying for the sponsorship in bitcoin, will receive brand exposure across the team&#8217;s social, digital and in-arena platforms.



<hr class="wp-block-separator"/>



Get the day’s top crypto news and insights delivered to your inbox every evening.&nbsp;<a href="https://cms.blockworks.co/newsletter/?source=end" target="_blank" rel="noreferrer noopener">Subscribe to Blockworks’ free newsletter</a>&nbsp;now.



<hr class="wp-block-separator"/>

MLB

Newsletter

Blockworks Research