The decentralized autonomous organization (DAO) underpinning the Terra ecosystem has struck a sponsorship deal with the Washington Nationals, a professional baseball team in the US.
According to Wednesday's announcement, the deal features "title sponsorship of the premier club space behind home plate at Nationals Park and establishes a foundation for future blockchain and cryptocurrency applications for fans."
"Terra will also be featured on in-stadium signage and will sponsor a five-part digital series that airs on Nationals social platforms," a press release explained.
The deal with a then-unnamed professional baseball team was first floated to Terra token-voters earlier this month, and the $40 million pitch (denominated in the stablecoin UST) from Terra Labs co-founder and CEO Do Kwon overwhelmingly passed on February 8. CoinDesk first floated the baseball team's identity in a report Tuesday.
“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," Mark Lerner, the team's principal owner, said in a statement.
Part of the deal includes the potential use of UST at the team's home stadium, with the press release stating: "As part of the agreement, UST could be accepted as a payment method at Nationals Park as early as next season."
Image via Washington Nationals/Twitter