World’s 10th largest cryptocurrency project Terra revealed its partnership with the Washington Nationals MLB team. Terra is run by decentralized autonomous organizations (DAO).
Washington Nationals are a key innovator of Major League Baseball that helps games for better engagement with audiences through new technologies.
The partnership aims to enable fans to pay in UST at the team’s home stadium, National Park in the next season.
The Terra community closed this deal for $38.2 million in UST for the next five years. The partnership proposal was made on Feb 1 from Terra’s governance platform.
Terra will also promote its platform in the National Park by displaying Terra signage during the game. The promotion will also be broadcast on Nationals social platforms in five-part digital series.
“The Nationals continue to push the envelope,” said Mark D. Lerner, managing principal owner of the Washington Nationals. “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.”
“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,” said Do Kwon, the founder of Terraform Labs. “By approving this sponsorship deal, the community has a new way to engage and educate the public, including the policy makers doing important work in Washington, D.C., about decentralized money and the burgeoning technology that underlies it.”
Terra platform is gradually expanding its ecosystem after getting immense investments. In December 2021, Hongkong-based venture capital firm Chiron raised $50 million to support Terra blockchain projects.
