The Washington Nationals have become the first Major League Baseball (MLB) franchise to team with Terra, the largest decentralized autonomous organization.
The endorsement should translate into better exposure for the Terra Community Pool which focuses on the deployment of decentralized stablecoins which create value for its ecosystem and allow players to make safe payments.
Presently, the Terra network is in control of $2.7bn worth of assets and is focused on a decentralized platform that allows participants in the ecosystem to govern the operations while ensuring transparency and trust. The partnership will directly translate into brand signage to bolster each company’s profile.
Terra branding will be available behind home plate at Nationals Park, the team’s home stadium.
Additional signage will be displayed on screens across the stadiums. The Nationals will also release a five-part video which will be designed to explain what the Terra network is and how it could accept payments in the network’s native cryptocurrency, the UST.
This token is based on the US dollar and is considered a stablecoin which has its value directly linked to that of a fiat currency.
Terraform Labs CEO Do Kwon has welcomed the deal. “By approving this sponsorship deal, the community has a new way to engage and educate the public, including the policy makers doing important work in Washington, DC, about decentralized money and the burgeoning technology that underlies it”, he said.
Interest in crypto is growing with the Super Bowl now set to air a number of crypto ads amid withdraw from mainstream companies.
Both Crypto.com and FTX, which are arguably the biggest exchanges in the world, would be airing their commercials.
Crypto.com previously bought the naming rights for the Los Angeles Lakers Arena for the eye-watering $700m. Sports are proving fertile ground for crypto investors.
Even sports betting operators are now offering crypto bets. If you wish to place such a wager yourself, visit 1xBit, FortuneJack or Cloudbet.