FTX exchange offering bitcoin in their partnership with the MLB

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Quote from: mk4 on August 06, 2021, 09:26:00 PM

Quote from: pugman on August 06, 2021, 06:55:32 PM

What FTX is doing is the total opposite of what Binance did, they are tapping into areas where there is no involvement of Crypto. They are trying to bring in people who have never heard of Binance and but also want to get into crypto- sort of what coinbase is doing too. And its working for them. FTX is growing crazily in popularity amidst people who don't know cowshit about crypto.

Their approach was definitely really interesting and really clever. Heavily advertising cryptocurrency to the gaming industry — that ONE industry that's highly likely to totally grasp the concept of digital goods because of the high amounts of spending on skins and game currencies. It's actually genius that I'm totally shocked it's seems that they're the first exchange to pull something like this off.

Too right mk4.
Heard from a news feed FTX had partnered with League of Legends for something recently. Whether that be for advertising in game or sponsored a team.
I would need to check to see which one it was but it was late last week from what I heard so the ink must be still fresh on this partnership.
But they are going hard for exposure towards the right individuals they focus on advertising their exchange too.

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Quote from: boltz on August 07, 2021, 03:26:51 PM

However, lately more and more exchanges are doing partnership with different sports as some of them are really in desperate situations.

I doubt it. Especially in the case of FTX, they've just had closed a $900m funding round from investors, and it's probably a safe assumption that they're making a crap ton of money from leverage traders on their platform.

And it's not like they're going to partner with expensive sports teams when they're struggling.

boltz

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Well I barely watch MLB because it takes so long for a game to complete.

I do like and always liked how hard they can hit that ball , how they can curve it in mid air to catch strange pattern and all this little skills from fingers, shoulders that makes the ball curve and spin in all direction making it so hard to actually hit it with the ball.
However, lately more and more exchanges are doing partnership with different sports as some of them are really in desperate situations. Per example in my country , all day you gonna hear news about Football like 99% and 1% of the other sports. All sports deserve a chance and MLB still has a lot of potential to be more popular outside USA.

CS:GO skins ? Man I played CS:GO like 1 year ago last time and I was on feeding mode hahaha.

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Quote from: pugman on August 06, 2021, 06:55:32 PM

FTX is going places, I will tell you that much. Since Binance earlier last year went on ahead and got into crazy partnerships and dealerships like acquiring coinmarketcap, and what not; FTX is starting to do the same.

FTX made a 210 Million Dollar deal with a eSports Org; TSM just for naming rights, so that the Org would promote themselves as TSM FTX^[1] and AND not only that, they also partnered with LCS^[2], and now with MLB.

What FTX is doing is the total opposite of what Binance did, they are tapping into areas where there is no involvement of Crypto. They are trying to bring in people who have never heard of Binance and but also want to get into crypto- sort of what coinbase is doing too. And its working for them. FTX is growing crazily in popularity amidst people who don't know cowshit about crypto.

^[1]https://www.sporttechie.com/tsm-esports-signs-210-million-sponsorship-with-ftx-crypto-exchange
^[2]https://esportsinsider.com/2021/08/ftx-lcs-crypto/

These are some good points and now have some sources to find out more about FX.
Thanks for these pugman!

Here is some advertisement of theirs I only noticed a week or so ago on a cryptocurrency price evaluation site not being coinmarketcap:

So you know they are extending out to a wider audience with such adverts towards crypto enthusiasts.

While watching a baseball game the other day managed to screen cap the logo that first got me questioning about their trading platform:

It is very prominent when an umpire is wearing a company logo which you never would have noticed before.
Since their uniform shirts are normally completely black with only an MLB association badge on the exposed area to the audience.

And as mk4 has already mentioned, they are the first exchange to actively do this towards the gaming industry.
I know I love me some CS:GO skins! Wink

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Quote from: pugman on August 06, 2021, 06:55:32 PM

What FTX is doing is the total opposite of what Binance did, they are tapping into areas where there is no involvement of Crypto. They are trying to bring in people who have never heard of Binance and but also want to get into crypto- sort of what coinbase is doing too. And its working for them. FTX is growing crazily in popularity amidst people who don't know cowshit about crypto.

Their approach was definitely really interesting and really clever. Heavily advertising cryptocurrency to the gaming industry — that ONE industry that's highly likely to totally grasp the concept of digital goods because of the high amounts of spending on skins and game currencies. It's actually genius that I'm totally shocked it's seems that they're the first exchange to pull something like this off.

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dogs are cute.

FTX is going places, I will tell you that much. Since Binance earlier last year went on ahead and got into crazy partnerships and dealerships like acquiring coinmarketcap, and what not; FTX is starting to do the same.

FTX made a 210 Million Dollar deal with a eSports Org; TSM just for naming rights, so that the Org would promote themselves as TSM FTX^[1] and AND not only that, they also partnered with LCS^[2], and now with MLB.

What FTX is doing is the total opposite of what Binance did, they are tapping into areas where there is no involvement of Crypto. They are trying to bring in people who have never heard of Binance and but also want to get into crypto- sort of what coinbase is doing too. And its working for them. FTX is growing crazily in popularity amidst people who don't know cowshit about crypto.

^[1]https://www.sporttechie.com/tsm-esports-signs-210-million-sponsorship-with-ftx-crypto-exchange
^[2]https://esportsinsider.com/2021/08/ftx-lcs-crypto/

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Quote from: mk4 on August 03, 2021, 11:06:10 AM

Quote from: bitmover on August 03, 2021, 07:37:53 AM

They still have very large withdrawal limits for unverified accounts, so it is a KYC-free exchange.

The problem with those exchanges is that in the long run they will start accepting fiat as payment method, so they will soonner or later be forced to reduce limits and impose KYC to their clients.

Fiat pairs in exchanges are very important, and they get much more clients and money inflow (and fees) when they support fiat... So, let's enjoy FTX withdrawal limits while we can.

KuCoin also have nice limits (5 BTC every 24hours).

Quote

@KuCoinModerator

KYC is not mandatory here on KuCoin there will be no problem, even if you're not verified you will still be able to transact on the platform. However, there'll be a withdrawal limit of 5 BTC per 24 hours for unverified accounts. Thanks!

https://twitter.com/kucoinmoderator/status/1387342560130068489#:~:text=to%20%40updatetime7%20%40kucoincom-,KYC%20is%20not%20mandatory%20here%20on%20KuCoin%20there%20will%20be,24%20hours%20for%20unverified%20accounts.

Yea Binance is still on the process of decreasing their no-KYC withdrawal limits to around $2000 per day(same withdrawal fees as FTX). By then, I really don't see any reason to use Binance because FTX has better withdrawal fees and exchange fees. Seems to be a lot less targeted by governments as well.

As for KuCoin, I wouldn't be surprised if they'd limit withdrawals any time soon as well.

It seems Binance is changing their approach to the defi space as many other countries and not the just the ones they are having issues with their lobbying government officials.
They had announced ceasing their services in the Ontario region (a canadian province) and not the entire country, at the end of the year starting December 31st.
https://www.theglobeandmail.com/business/article-crypto-platform-binance-ceases-operations-in-ontario-in-face-of-new
https://www.coindesk.com/binance-pulls-out-of-ontario-following-actions-against-other-crypto-exchanges

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Quote from: bitmover on August 03, 2021, 07:37:53 AM

They still have very large withdrawal limits for unverified accounts, so it is a KYC-free exchange.

The problem with those exchanges is that in the long run they will start accepting fiat as payment method, so they will soonner or later be forced to reduce limits and impose KYC to their clients.

Fiat pairs in exchanges are very important, and they get much more clients and money inflow (and fees) when they support fiat... So, let's enjoy FTX withdrawal limits while we can.

KuCoin also have nice limits (5 BTC every 24hours).

Quote

@KuCoinModerator

KYC is not mandatory here on KuCoin there will be no problem, even if you're not verified you will still be able to transact on the platform. However, there'll be a withdrawal limit of 5 BTC per 24 hours for unverified accounts. Thanks!

https://twitter.com/kucoinmoderator/status/1387342560130068489#:~:text=to%20%40updatetime7%20%40kucoincom-,KYC%20is%20not%20mandatory%20here%20on%20KuCoin%20there%20will%20be,24%20hours%20for%20unverified%20accounts.

Yea Binance is still on the process of decreasing their no-KYC withdrawal limits to around $2000 per day(same withdrawal fees as FTX). By then, I really don't see any reason to use Binance because FTX has better withdrawal fees and exchange fees. Seems to be a lot less targeted by governments as well.

As for KuCoin, I wouldn't be surprised if they'd limit withdrawals any time soon as well.

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@bitmover
I hear that about exchange limits being high at first then once they start gaining a larger client base they reduce them drastically.
When I first joined binance they had a limit of 2btc for non-verified accounts. I doubt they are even this high now due to the rise of bitcoin's price.
If kucoin's limit is still 5btc on a daily basis then that would probably be the highest out of all the exchanges not requiring to have kyc enabled on an account that I have heard of.

Quote from: mk4 on August 01, 2021, 10:22:25 PM

By now, we should be expecting FTX to somewhat overtake Binance as the "de-facto" cryptocurrency exchange if not only because their UI/UX is crap. Binance's UI is simply far cleaner and simpler than FTX's that's cluttered with so much options.

Some are saying CZ is going to end up like Arthur Hayes did when the former CEO was caught earlier this year.
Just look at the mess binance is in with Malaysia earlier this month already having been banned from operating there. Undecided

https://cointelegraph.com/news/binance-banned-in-malaysia-given-14-days-notice-to-shut-down-operations

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Quote from: mk4 on August 01, 2021, 10:22:25 PM

By now, we should be expecting FTX to somewhat overtake Binance as the "de-facto" cryptocurrency exchange if not only because their UI/UX is crap. Binance's UI is simply far cleaner and simpler than FTX's that's cluttered with so much options.

They still have very large withdrawal limits for unverified accounts, so it is a KYC-free exchange.

The problem with those exchanges is that in the long run they will start accepting fiat as payment method, so they will soonner or later be forced to reduce limits and impose KYC to their clients.

Fiat pairs in exchanges are very important, and they get much more clients and money inflow (and fees) when they support fiat... So, let's enjoy FTX withdrawal limits while we can.

KuCoin also have nice limits (5 BTC every 24hours).

Quote

@KuCoinModerator

KYC is not mandatory here on KuCoin there will be no problem, even if you're not verified you will still be able to transact on the platform. However, there'll be a withdrawal limit of 5 BTC per 24 hours for unverified accounts. Thanks!

https://twitter.com/kucoinmoderator/status/1387342560130068489#:~:text=to%20%40updatetime7%20%40kucoincom-,KYC%20is%20not%20mandatory%20here%20on%20KuCoin%20there%20will%20be,24%20hours%20for%20unverified%20accounts.

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Quote from: mk4 on August 02, 2021, 08:16:49 PM

Quote from: slaman29 on August 02, 2021, 12:51:12 AM

The most our local exchanges ever do is ask you to invite friends and they give cashback or some kind of voucher.

Not really. Affiliate/referral programs are used widely even with the top US exchanges like Coinbase; heck, even FTX. Not to mention that Coinbase has had these sort of "huge money" giveaways as well; well bigger than $100k.

Yes, that's how I heard about Coinbase and Paypal, people invited me for free $10 (but both cases I couldn't use them). What I meant to say is that the MOST our local exchanges do is that (referral). No fancy competitions like this, no Olympics special. Trading contests a lot but I hate those because you can't win if you're not a whale since they payout on volume.

Personally I think hosting a big contest like that to get people to KYC onboard is a great idea.

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Quote from: slaman29 on August 02, 2021, 12:51:12 AM

The most our local exchanges ever do is ask you to invite friends and they give cashback or some kind of voucher.

Not really. Affiliate/referral programs are used widely even with the top US exchanges like Coinbase; heck, even FTX. Not to mention that Coinbase has had these sort of "huge money" giveaways as well; well bigger than $100k.

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Not a US citizen so no chance of me even participating. The most our local exchanges ever do is ask you to invite friends and they give cashback or some kind of voucher. Sort of typical for all Asian exchanges I guess. FTX is not an unknown brand though, you see them advertising quite a lot before on Etherscan and CMC as I can remember. You are an MLB fan rdbase?

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I was not really aware of this but is seems FTX is really stepping up their marketing efforts with these sponsorships and promotions. They had also made headlines when they sponsored an esports team. Although MLB is not the biggest sports league in the United States, the sport still enjoys tremendous popularity at the local level and this partnership will bring FTX good exposure.

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I'm happy to see them doing sponsorship deals and making themselves known to everyone. I like how they are operating. I currently use their exchange as well, and I kind of like how they are doing. Mostly like with the charity stuff on their site with staking their token and giving rewards and such. Anyway, the feature that I like with their site is the tokenized stocks that some traders cannot trade unless they have a foreign account or something.

The odds of winning that is so freaking low. Good luck with the participants.

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By now, we should be expecting FTX to somewhat overtake Binance as the "de-facto" cryptocurrency exchange if not only because their UI/UX is crap. Binance's UI is simply far cleaner and simpler than FTX's that's cluttered with so much options.

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This is the first time I'm actually hearing of this and won't act surprised because I'm not. FTX has been really pushing their partnerships lately and pulling big moves. They were the first exchange to start trading stocks and have had plenty of "awesome" partnerships as well. It's not the first that that FTX has indulged in the sports industry. Some time this year, they purchased naming rights for Miami heat area in the NBA.

It's an interesting contest with a nice reward too

unfortunately, I don't know enough about baseball to participate.

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Don't know if anybody heard of this but an exchange is offering up some bitcoin ($100,000 worth) to those who can guess the longest home run and by whom this season.

I noticed during the games I have watched the empires have the FTX logo on their uniforms and hadn't heard of them before but looked like a type of crypto foreign exchange just from the name.

Here is the article as it is running until the post season:
https://www.coindesk.com/100k-in-bitcoin-up-for-grabs-as-ftx-major-league-baseball-team-up-advances

Topic: FTX exchange offering bitcoin in their partnership with the MLB (Read 248 times)