The company behind four major Washington, D.C.-based professional sports teams has announced FTX U.s.a. volition exist its official crypto substitution and nonfungible token partner.

In a Mon proclamation, Awe-inspiring Sports and Entertainment, or MSE, said FTX US would be the official crypto partner of the Washington Capitals hockey team, the Washington Wizards men's basketball squad, the Washington Mystics women's basketball game team and the Capital City Go-Go basketball team as function of a multi-year bargain. According to MSE, FTX United states' NFT platform will take exclusive rights to future token drops by the four teams and the substitution will be a partner for an in-game highlight serial, dubbed "Big Cake-Concatenation."

"The integration of blockchain engineering science with the sports experience has merely just begun, and together we are going to advance to an entirely new borderland, which volition ignite fans beyond what they can even imagine today," said Jim Van Stone, MSE president of business operations and the business firm's principal commercial officer.

The announcement is the latest partnership between FTX US and major sports franchises in the United States. In March, the crypto substitution'south operator, FTX, reached a $135-million agreement to secure naming rights for the Miami Oestrus's habitation stadium, which volition be called the FTX Arena until at to the lowest degree 2040. The firm has likewise been an official sponsor of Major League Baseball since June and partnered with the University of Kentucky to allow its Wildcats men's basketball team to human action as brand ambassadors.

Related: Jack in the Box claims in court FTX United states of america ripped off its character to create 'Moon Human being'

Ane of the largest cryptocurrency exchanges in the world, FTX had a valuation of more $25 billion following a $420 million funding round in Oct. The visitor launched its NFT marketplace for U.S. customers in September.