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

The deal gives FTX lifetime naming rights to sponsor 137 players from developing countries.

AccessTimeIconAug 5, 2021 at 1:00 p.m. UTC
Updated Dec 6, 2022 at 8:22 p.m. UTC
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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.

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Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.


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