FTX US signs NFT deal with the Golden State Warriors basketball team

FTX US signs NFT deal with the Golden State Warriors basketball team
Photo by Stephen Baker / Unsplash

FTX US, a cryptocurrency exchange operating in the United States, said in a statement released on the 14th of December, 2021, that it had signed an agreement with the Golden State Warriors professional basketball team. The Warriors will generate and issue non-fungible tokens (NFTs) as part of the partnership, with FTX US serving as the team's primary digital asset launch hub. According to a press release, the Warriors based in San Francisco want to launch NFTs FTX US's NFT marketplace in early 2022 and become the team's official cryptocurrency platform. Additionally, digital artifacts of the Warriors' six NBA Championship rings and ten commemorative ticket stubs will be included.

Read Also: Premier League Considers Partnership With NFT Platform

In addition, FTX US will donate one bitcoin to each of three Bay Area charities working to increase diversity in STEM and tech. In a statement, FTX US President Brett Harrison said,

"The FTX US NFT Platform will give a premier, safe, and secure forum for the Warriors international fan base to access rare items from the brand."

Through its NFT platform, FTX US has made a concerted attempt to grow into sports and entertainment. For example, in November, it signed a contract with the University of Kentucky basketball team to allow players to design and sell their own NFTs.

"We immediately discovered our shared ambition to innovate around cryptocurrency integration and adoption, especially the role NFTs play in global fan interaction," said Warriors President and Chief Operating Officer Brandon Schneider in a statement. As a result, FTX.US and the Warriors will donate three Bitcoin to local educational equity organizations to commemorate the accord. With these recent developments, sports are becoming increasingly popular among cryptocurrency organizations to gain greater brand recognition.

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