FSU Softball signs NIL deal with FTX cryptocurrency exchange

Team-wide offers for name, image and likeness offerings are increasing in women’s sport. Earlier this week, CrowdPush announced a proposed deal to the Alabama Women’s Gymnastics team, and now the FTX cryptocurrency exchange is announcing that a NIL offer will be made to the entire team of FSU softball after making an offer to UCLA Women’s Basketball earlier this month.

“We like to partner with full teams because a lot of crypto is about community development, and we hope NIL partners learn and explore crypto and FTX with their friends and teammates in an authentic way,” said the FTX vice president of business development, Nate Clancy. .

“FSU softball was a perfect fit for FTX,” Clancy said. “When we looked at the culture they built and FSU’s standard of excellence, it became clear that they were the right partners. “

Clancy believes the deal is both the first team-wide deal for a softball team – although there have been NIL deals offered to all female student athletes at schools like BYU and FAU. – and also the first team agreement to be paid entirely in crypto. Team-wide offers are offered to each team member, although individuals must then register and choose to be part of the offer. FTX previously announced offers of Kentucky Men’s Basketball and BYU football.

FSU softball players who opt in to the deal will be invited to promote FTX on social media. Payment to athletes is based on social reach and engagement, and the company says if all athletes complete the applications for the term of the agreement, it would cost them almost $ 80,000 as a collective.

Cryptocurrency companies have entered the sports market from all angles this year. Crypto.com and FTX have bought commercials for the next Super Bowl.

“We actually wanted to buy the Super Bowl itself, but they don’t accept cryptocurrency yet. So we’re just doing an advertisement,” said Sam Bankman-Friend, CEO of FTX. noted.

FTX also bought the naming rights to two sports facilities this year: the Miami Heat arena in a 19-year, $ 135 million contract and the grounds of California Memorial Stadium for $ 17.5 million. over 10 years.

Florida State Football Team previously announced an agreement with another cryptocurrency company, Yummy Crypto.