Terra Scores “Groundbreaking” Partnership with Washington Nationals

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Alex Dovb­nya

The Wash­ing­ton Nation­als have secured a $40 mil­lion part­ner­ship with Terra 

The Wash­ing­ton Nation­als base­ball team has inked a “ground­break­ing” five-year part­ner­ship with pub­lic blockchain pro­to­col Ter­ra, accord­ing to a Wednes­day announcement.

Ear­li­er this month, Ter­raform Labs founder Do Kwon intro­duced a fund­ing pro­pos­al in order to fund a deal with “a house­hold name” with­in one of America’s biggest sports leagues.

The $40 mil­lion spon­sor­ship was fund­ed with the help of the Ter­ra com­mu­ni­ty trea­sury, which man­ages rough­ly $2.7 bil­lion in the form of a decen­tral­ized autonomous orga­ni­za­tion. The com­mu­ni­ty vot­ed in favor of the pro­pos­al by a large mar­gin, which marked the first-ever deal between a sports fran­chise and a DAO.   

Ter­ra has man­aged to secure the part­ner­ship despite the fact that it is in hot water with the U.S. Secu­ri­ties and Exchange Com­mis­sion. The promi­nent cryp­tocur­ren­cy project went on to sue the reg­u­la­tor after Kwon was served a sub­poe­na dur­ing a cryp­to conference. 

Mark D. Lern­er, man­ag­ing prin­ci­pal own­er of the Wash­ing­ton Nation­als, has float­ed the idea of allow­ing mak­ing pur­chas­es with the native Ter­ra (UST):

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. 

Ter­ra (UST) will be accept­ed at Nation­als Park start­ing from next season.

As part of the mul­ti-year part­ner­ship, a posh club locat­ed direct­ly behind home plate will change its name to “The Ter­ra Club.”

The UST price con­tin­ues to flat­line, cur­rent­ly trad­ing at rough­ly $55 on major spot exchanges. In Jan­u­ary, the price of the token more than halved dur­ing a mas­sive rout.

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