Terra (LUNA) has collaborated with the Washington Nationals MLB team to encourage more crypto and sports/esports integration.
Terra (LUNA) is the tenth most valuable cryptocurrency by market capitalization, as well as the blockchain that generates the UST stablecoin. The initiative is overseen by a decentralized autonomous organization (DAO), which is currently a Washington Nationals official partner.
About the partnership
To clinch the transaction, the Terra community pledged $38.2 million in UST over the following five years. Terra founder Do Kwon suggested the agreement on the community’s governance platform on February 1st.
The deal was first floated to Terra token-voters earlier this month, while the $40 million pitch from Kwon denominated in Terra’s UST was passed on February 8. As part of the agreement, fans at the team’s home stadium, Nationals Park, will be able to make purchases with UST as early as next season. During games, the squad will also display Terra signs and make a five-part video series advertising the brand.
“Terra will also be featured on in-stadium signage and will sponsor a five-part digital series that airs on Nationals social platforms. As part of the agreement, UST could be accepted as a payment method at Nationals Park as early as next season.”
The usage of UST as a payment method might give LUNA a boost in terms of activity and offer the network a boost in terms of growth. During the 2021 season, about 1.5 million fans attended Nationals games. As the limits for Covid-19 are lifted, Terra’s exposure in the stadium is likely to rise to 2 million.