As the latest cryptocurrency hype-cycle peaked in 2021, two exchanges that had grown rapidly in just a few years decided to put their names on pro sports stadiums. FTX secured naming rights to the Miami Heat basketball team’s stadium in March 2021 in a reported $135 million, 19-year deal. Crypto.com took an even bigger swing. Naming deals are “really not that much different than any sponsorship deal, which is really just an amalgamation of contracts,” said Feldman, who specializes in endorsement deals.
Cryptocom and FTX Bet Big on Stadium Naming Rights Before the Crypto Crash
