FTX And Yield Guild Games Agree On A Deal To Sponsor Axie Infinity Players
The deal with Yield Guild Games gives FTX lifetime naming rights to sponsor 137 players from developing countries.
Crypto derivatives exchange FTX continues its extensive marketing efforts in the sports and gaming world. The company recently 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 deal gives FTX lifetime naming rights to sponsor 137 players from developing countries.
YGG has described itself as a “play-to-earn gaming guild,” allowing gamers to earn tokens through blockchain-based economies.
Sponsorship funds are given to cover the cost of “breeding” Axies in the play-to-earn game Axie Infinity. The game revolves around cute furry creatures called Axies, which players breed, acquire, train, use to complete challenges, and do battle with online. The object of the game is to obtain small love potions (SLPs), which can be used to breed new Axies that can then be deployed within 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.
FTX CEO, Sam Bankman-Fried commented:
“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.”
FTX has signed a number 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.
