FTX Strikes Deal With Yield Guild Games to Sponsor Axie Infinity Players

FTX Strikes Deal With Yield Guild Games to Sponsor Axie Infinity Players

Continuing its extensive marketing efforts in the sports and gaming world, cryptocurrency exchange FTX has signed a sponsorship deal with decentralized gaming startup Yield Guild Games (YGG) in which Axie Infinity players from developing countries will receive scholarship funds.

  • The sponsor-a-scholar program gives FTX lifetime naming rights to sponsor 137 players from developing countries.
  • YGG describes itself as a "play-to-earn gaming guild." It allows gamers to earn tokens through blockchain-based economies.
  • Sponsorship funds will be provided to cover the cost of “breeding” Axies in the play-to-earn game “Axie Infinity”. Axies are yield-generating non-fungible token (NFT) battle pets required to play the game.
  • YGG said it will loan the NFTs to new players who cannot afford to buy their own, under a revenue-sharing agreement.
  • Players who have received the FTX scholarship represent 81 players from the Philippines, 25 from Indonesia, 10 from India, 15 from Latin America, and six from Brazil.
  • “As fans of both gaming and making a positive impact, we’re excited to partner with Yield Guild Games who have created a truly unique way for new audiences to gain exposure to crypto," said Sam Bankman-Fried, founder and CEO of FTX.
  • FTX has signed a slew of sponsorship deals with a number of live and virtual sports leagues this year, including Major League Baseball and the National Basketball Association’s Miami Heat.
  • Source