Washington Nationals embrace cryptocurrency with Terra deal

The Washington Nationals Major League Baseball franchise has claimed a first for a professional sports team after signing a wide-ranging partnership with Terra, a public blockchain protocol and one of the largest decentralised autonomous organisations in the cryptocurrency space.

The agreement establishes a foundation for future blockchain and cryptocurrency applications for Nationals fans. The Nationals said the deal could see the UST cryptocurrency be accepted as a payment at Nationals Park as early as next season.

The partnership also includes title sponsorship of a premier club space behind the home plate at Nationals Park. The Terra Club, formerly known as The Nationals Club, offers all-inclusive food and beverages, premium chef’s tables and a private bar with draft beer and house wine. The club also offers in-seat food and drink delivery.

Terra will also benefit from in-stadium signage as part of the deal and will sponsor a five-part digital series that airs on Nationals social platforms.

Mark D. Lerner, managing principal owner of the Nationals, said: “The Nationals continue to push the envelope. We are excited to partner with Terra to name our most exclusive club and explore bringing powerful new fan experiences to Nationals Park, including the use of UST cryptocurrency to make purchases.”

Do Kwon, founder of Terraform Labs, added: “This first-of-its-kind partnership between a DAO and a sports franchise opens a new world of opportunities for bringing crypto and DeFi (decentralised finance) to the masses.

“By approving this sponsorship deal, the community has a new way to engage and educate the public, including the policy makers doing important work in Washington, D.C., about decentralised money and the burgeoning technology that underlies it.”

Last month, Nationals Park opened the first retail sportsbook connected to a Major League Baseball stadium through an agreement with sports betting and gaming company BetMGM.

The sportsbook will be open year-round and will provide fans with an “innovative entertainment destination” to watch and bet on games. The space will feature 40 big-screen TVs with live-odds boards, cashiers at six betting windows and user-friendly kiosks, along with full-service beverage and dining options.

Image: Sung Shin on Unsplash