Key Takeaways:
- The Terra Community Trust (TCT) has entered into a five-year, $38.15 million partnership with the Washington Nationals MLB franchise.
- The partnership is to promote Terra throughout its home venue and TV network, as well as to work to make UST an accepted currency in-venue transactions.
The Terra Community Trust (TCT) has entered into a five-year, $38.15 million partnership with the Washington Nationals MLB franchise to promote Terra throughout its home venue and TV network, as well as to work to make UST an accepted currency in-venue transactions.
Terra, the project behind the cryptocurrency LUNA, has partnered with the Washington Nationals of Major League Baseball. According to an announcement issued yesterday, the collaboration includes several components, including branding and payments.
This partnership includes title sponsorship of the premier club space behind home plate at Nationals Park, as well as laying the groundwork for future blockchain and cryptocurrency applications for fans. Terra will also appear on in-stadium signage and will sponsor a five-part digital series that will air on the Nationals’ social media platforms.
Mark D. Lerner, managing principal owner of the Washington Nationals said “The Nationals continue to push the envelope. We are excited to partner with Terra to name our most exclusive club and explore bringing powerful new fan experiences to Nationals Park, including the use of UST cryptocurrency to make purchases.”
The Nationals will accept Terra’s UST stablecoin as a form of payment at Nationals Park, the team’s home stadium in Washington, D.C. Support for crypto payments could begin next season.
Do Kwon, the founder of Terraform Labs said “This first-of-its-kind partnership between a DAO and a sports franchise opens a new world of opportunities for bringing crypto and DeFi to the masses. By approving this sponsorship deal, the community has a new way to engage and educate the public, including the policymakers doing important work in Washington, D.C., about decentralized money and the burgeoning technology that underlies it.”
Other cryptocurrency companies, including Crypto.com and FTX, have formed extensive sports partnerships, and both are expected to run Super Bowl ads this weekend. In contrast to Terra, those companies are centralised exchanges rather than community-led projects developing a blockchain and cryptocurrency.
