FTX, the leading decentralized exchange, rolls out the first new asset created on its protocol in a joint development with cryptocurrency company, Dolphin Entertainment. The Dolphin Digital Entertainment Network (DDE) is a new gaming ecosystem based on the DDE token, which will allow players to use the tokens to purchase games, items, and more. It will also be integrated with the FTX DEX, thus creating the world’s first unified digital gaming ecosystem.
The FTX token is designed to serve as a cryptocurrency for virtual worlds and a payment system for virtual goods. FTX is a utility token, not a security, and is not intended to be a currency of digital assets. FTX is the ERC-20 token that facilitates virtual world transactions on the FTX Virtual World Platform in the EOS blockchain.
Dolph Entertainment and FTX have partnered to launch the world’s first global digital currency exchange platform, that will allow users to exchange NFTs between one another.. Read more about nft marketplaces and let us know what you think.
New NFT initiatives continue to emerge in 2021, while many crypto businesses develop their own NFT products, features, and services to attract new consumers and stay up with the sector’s growth and trends.
FTX is the most recent example of this, since it is introducing a new NFT platform aimed towards entertainment and sports. The business has secured a new partnership with the League Championship Series LCS, a professional eSports league.
Together with Dolphin Entertainment, FTX will launch a new NFT marketplace.
The firm is teaming up with Dolphin Entertainment to work on the project, according to a recent statement. “Create an NFT marketplace for big sports and entertainment companies, encompassing film, television, music, gaming, eSports, culinary, lifestyle, and charity industries,” they say.
The collaboration is significant, and it will span a broad variety of entertainment sectors, providing a single location for NFT fans from all of them. Brett Harrison, FTX’s president, said that the business and its staff are extremely eager to collaborate on this new initiative with Dolphin, not only because of their capacity to access content and IP, but also because Dolphin is the industry leader in public relations and influencer marketing.
In other words, FTX views this collaboration as a doorway to all of the targeted sectors. Harrison also hinted at a long-term collaboration, saying that they had “many things on the future that we can’t wait to unveil together.”
Dolphin Entertainment, as some may know, is a prominent television and film production company based in Florida. It also owns a number of independent public relations and marketing firms that serve the same industries as the future NFT marketplace when it launches.
At this moment, none of the two collaborating companies has revealed any information about the new NFT marketplace’s debut date or the blockchain technology that will be utilized. All that is known is that the two will collaborate, with Dolphin offering more than just assistance — the future platform’s branding, production, and marketing will all be handled by Dolphin. The FTX’s job will be to offer the project’s backbone by using its crypto exchange service and blockchain technology development.
FTX inks a seven-year contract with the LCS, an eSports league.
However, it’s worth mentioning that FTX is also a sponsor of Riot Games’ professional eSports league, the LCS, for League of Legends (LoL). LoL made the news earlier today, on August 4th. The FTX exchange inked a seven-year sponsorship agreement, marking another another step toward permanently merging crypto and gaming, according to the report.
This is also not the first time FTX has done something similar. Many may recall the exchange’s last partnership from June, when it inked a name rights agreement to sponsor Team SoloMid, an eSports team. This agreement was reached for $210 million. Unfortunately, the squad was shortly barred from utilizing the FTX emblem in contests. The reason for this is because it went against Riot Games’ crypto exchange partnership rules.
The team may still use the logo on the internet, on social media, and in countries outside of North America.
In terms of the new relationship, it is Riot Games’ biggest sponsorship contract for any eSports league. However, since the numbers aren’t published, it’s unclear how big it actually is. All that is known is that beginning this weekend, FTX branding will begin to show on LCS broadcasts.
This latest agreement adds to FTX’s growing list of sponsorship partnerships, which also include a pro basketball league, the MLB, and the previously mentioned Team SoloMid.
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