The entity backing four top-tier Washington, D.C.-based professional sports teams has reportedly disclosed details related to its alliance with FTX US, to be the official crypto and NFT partner. 

Specifically, Monumental Sports and Entertainment (MSE) reportedly revealed that the new alliance will see FTX US securing the position of the official crypto partner of the Washington Capitals hockey team, the Washington Wizards men’s basketball team, the Washington Mystics women’s basketball team and the Capital City Go-Go basketball team, as included in the scope of the agreement lasting for many years. 

Per the MSE, FTX US’ NFT platform will reportedly be receiving exclusive rights to future token drops by the four teams and the exchange will be a partner for an in-game highlight series, which is known as “Big Block-Chain.”

“The integration of blockchain technology with the sports experience has only just begun, and together we are going to advance to an entirely new frontier, which will ignite fans beyond what they can even imagine today,” said Jim Van Stone, MSE president of business operations and chief commercial officer, further remarked regarding the development. 

The freshly formed partnership is the most recent one between FTX US and high-profile sports franchises in America. In March, the crypto exchange’s operator, FTX, closed a $135-million deal to obtain naming rights for the Miami Heat’s home stadium, which will be renamed into the FTX Arena until at least 2040. 

The company has additionally become the official sponsor of Major League Baseball since June, along with collaborating with the University of Kentucky, to enable its Wildcats men’s basketball team to act as brand ambassadors.

FTX – currently standing in the list of the most major crypto exchanges throughout the globe – reportedly possesses a valuation of over $25 billion, after successfully securing $420 million of capital injection via fundraising in October.