Washington Nationals, an American baseball professional team, revealed on February 9th that Terra, a decentralized autonomous entity (DAO) and open-source Blockchain platform, had been chosen to partner with the Washington Nationals. The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.”
Washington Nationals ink long-term deal with Terra
The Washington Nationals Major League Baseball team announced Wednesday that they have partnered with DAO Terra (the blockchain platform) and Major League Baseball’s Washington Nationals. Terra’s partnership follows several other sports deals with crypto companies, however the MLB team is the first to join an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.”
“The Nationals continue to push the envelope,” the managing principal owner of the Washington Nationals, Mark D. Lerner, said in a statement. “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.”
Terra (and its native token terra) have made a lot of progress over the past 12 months. Today, LUNA is at the eleventh spot in terms crypto market capitalization. Year to date, LUNA’s value has risen 794% against the U.S. Dollar. DAO Terra, the blockchain platform, has $14.44 Billion in total value locked. This is second to none for decentralized finance (defi). Terra’s stablecoin, UST, is the fourth largest USD-pegged stablecoin in terms of crypto market capitalization, with 11.2 billion UST in circulation.
“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,” Do Kwon, the founder of Terraform Labs, explained in the partnership announcement with the Washington Nationals. Terra founder said:
This sponsorship agreement allows the community to reach new audiences and educate policy makers in Washington, D.C. about decentralized funds and the technology behind them.
Exclusive ‘Terra Club’ and $40 Million, 5-Year Deal
Crypto.com purchased the rights to name the Staples Center, Los Angeles’ iconic stadium. Then the arena was renamed Crypto.com Arena. MLB already has a crypto partner, as it inked a deal with FTX in a long term arrangement, making FTX the MLB’s official crypto exchange brand. MLB also works with Candy Digital, a non-fungible token (NFT), digital collectible company. The deal between the Washington Nationals and Terra will transform the exclusive “Nationals Club” into the “Terra Club.”
Terra Club offers a climate-controlled space at the field’s level, right behind home plate. Members receive all-inclusive meals and drinks. “Guests with tickets in the Terra Club can enjoy their meal in the dining room or take advantage of in-seat delivery of food and beverages while not missing a second of the action on the field,” the Washington Nationals’ announcement concludes.
According to the deal introduced by Do Kwon, it’s a five-year partnership for $40 million. “The partnership agreement with the franchise in one of the major American professional sports leagues represents an unprecedented and groundbreaking opportunity to capitalize on the entry of a household and well-reputed franchise into the Terra community,” the Terra founder said at the time.
How do you feel about the Terra/Washington Nationals agreement? Please comment below to let us know your thoughts on this topic.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.