Sam Bankman-Fried’s FTX sports, which has signed a five-year deal as the official crypto exchange brand of Major League Baseball (MLB), has announced a new competition dubbed “MLB MOONBLASTS Pick ‘Em,” the Coindesk reports.
According to the competition, the winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run for the rest of the season.
FTX has partnered with Major League Baseball to become the first cryptocurrency exchange sponsor in professional sports.
The partnership establishes FTX as the official cryptocurrency exchange brand of the baseball organization.
The deal involves FTX branding appearing on all umpire uniforms, which began at the All-Star Game in Denver on July 13, and will continue into the postseason.
As part of the contract, FTX will exercise worldwide marketing rights associated with MLB logos.
In March, FTX secured the naming rights to the home arena of the NBA's Miami Heat for $135 million, Coindesk reports.
On Saturday, Bankman-Fried tweeted that the exchange had become the first cryptocurrency derivatives exchange for receiving a US GAAP audit.
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