As per the reports, FTX has announced on March 12, 2021, that it is currently finalizing a deal with Miami Heat. The cryptocurrency exchange has hinted that if the deal goes as planned between the two, then there will be a huge surprise for the Miami Heat fans.
According to the reports, FTX is planning to sponsor Miami Heat and the only thing stopping the exchange from doing so is the deal that is currently pending between the two.
Miami Heat is one of the teams from the National Basketball Association from the United States. The team currently has a huge fan following and it is sponsored by a crypto-exchange is a huge step into crypto-adoption by the club.
It has been revealed that once the deal has been finalized, the cryptocurrency exchange will have exclusive naming rights. The naming rights would reportedly be for the 19,600 arenas, as confirmed by the sources.
At present, it is the American Airlines company that has the exclusive naming rights for the 19,600 arenas. If the deal is finalized and successful, then the rights will shift from American Airlines over to FTX cryptocurrency exchange.
If the above deal happens, then the club will be exposed to the vast resources and world of cryptocurrencies including Bitcoin (BTC). On top of that, even the fans of the club will gain exposure to cryptocurrencies as well as Bitcoin (BTC).
This would eventually help the cryptocurrency exchange to gain more exposure as well as user-base on its platform. The exchange will be able to offer a different set of products to the fans of the Miami Heath club. It is being hinted that the exchange may also be planning new products and services that would be exclusive to the fans of the Miami Heat club.
The sources have revealed that the FTX higher-ups are confident that the deal will be successful between the two. They have already started taking the necessary steps to ensure that they are well-prepared to set things in motion once the deal is struck.
It has been revealed that the FTX exchange has already bought and acquired rights for a new domain: ftxarena.com. It is being claimed that the particular domain will be dedicated to the fans of the Miami Heat Club. On top of that, the exchange has already acquired the handles for the FTXarena social media.
It has been revealed that the county was looking to change the name of the area since 2019. This is the reason the county was looking for a new sponsor and FTX seems to have found the best deal. It has been confirmed that American Airlines is currently paying $2 million per year in order to have the naming rights for the arena.