Crypto exchange FTX's sponsorship deal with Major League Baseball (MLB) has advanced to giving away free bitcoin.
FTX and MLB struck a baseball deal in June that involves FTX branding appearing on all umpire uniforms starting at the All-Star Game in Denver on July 13.
Now, in a new twist, the two firms have announced a competition called “MLB Moonblasts Pick 'Em.” The winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run during the rest of the season. The competition ends Saturday at 2:00 p.m. ET and is open to U.S. residents only.
In March, FTX secured the naming rights to the home arena of National Basketball Association team Miami Heat for a reported $135 million.
FTX's MLB sponsorship and their bitcoin giveaway is another sign of the increasing integration of the cryptocurrency industry into mainstream sports.
Earlier Saturday, FTX CEO Sam Bankman-Fried tweeted that the exchange has become the first cryptocurrency derivatives exchange to receive a U.S. GAAP audit.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.