Washington Nationals baseball team signed sponsorship deal with Terra

The deal was worth about $40 million

10.02.2022 - 11:45

618

2 min

What’s new? The Washington Nationals, a US baseball team, has entered into a sponsorship deal with Decentralized Autonomous Organization (DAO), the underlying Terra ecosystem. The deal includes title sponsorship of the premier club space at Nationals Park and sets the stage for future blockchain and cryptocurrency applications for fans.

Terra is one of the largest DAOs in the cryptocurrency industry.Terra has experienced a meteoric rise as a market leader.𝐓𝐞𝐫𝐫𝐚 𝐢𝐬 𝐚 𝐠𝐫𝐨𝐮𝐧𝐝𝐛𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐩𝐚𝐫𝐭𝐧𝐞𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐖𝐚𝐬𝐡𝐢𝐧𝐠𝐭𝐨𝐧 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐬.🔗 // https://t.co/ESel7phptn pic.twitter.com/MzQ3UxzMpc— Washington Nationals (@Nationals) February 9, 2022

What does the Terra representative say? Part of the deal includes the potential use of UST at the team’s home stadium. It could be adopted as a payment method at Nationals Park 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.”

What preceded the deal? DAO Terra overwhelmingly voted to partner with the US sports franchise for around $40 million. The owners of the LUNA token attended the vote knowing almost every aspect of the sponsorship, except the name of their potential partner. Mark Lerner, the owner of the team, stated:

“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.”

Author: