Terra strikes sponsorship deal with MLB’s Washington Nationals

The partnership will showcase Terra and introduce plans to accept cryptocurrencies like UST as payment throughout National Park

The Terra blockchain has established a five-year, $40 million partnership with Major League Baseball team Washington Nationals.

The partnership includes Terra-branded venue signage and messaging throughout Nationals Park alongside branded social content across Nationals social platforms via a five-part digital series explaining the Terra ecosystem.

Terra branding will also feature heavily in the premier club space behind home plate at Nationals Park, which will be rebranded as the ‘Terra Club’ and be emblazoned with Terra logo and messaging.

In addition, TerraUSD (UST) – the DeFi-focused stablecoin created by Terra – is set to be implemented as an accepted currency and payment method at Nationals Park as early as next season.

โ€œWe 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,โ€ said Mark D Lerner, managing principal owner of the Washington Nationals.

The partnership was the brainchild of Terraform Labs founder, Do Kwon, who proposed the $40m deal to the Terra community on February 1. The proposal was accepted with a landslide 98.41% of votes, with more than 300 million participating in the community vote.

Terra remains one of the largest decentralized autonomous organizations (DAO) in the space and has swelled in valuation since its inception in 2021. The Terra Community Pool now stands at an estimated $2.74 billion valuation, with $40m in UST used to fund the partnership deal with the MLB team.

โ€œThis 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,โ€ said Kwon.

โ€œBy approving this sponsorship deal, the community has a new way to engage and educate the public about decentralised money and the burgeoning technology that underlies it.โ€

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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