FTX is creating an NFT-focused sports and entertainment marketplace
August 2, 2021, 2:29PM EDT
1 min read
Crypto exchange FTX is launching an NFT marketplace for prominent sports and entertainment brands, the company announced Monday.
FTX is partnering up with entertainment company Dolphin Entertainment to create the marketplace. Dolphin's subsidiaries include several notable PR firms across different industries, including 42West, Shore Fire Media and The Door.
The marketplace will focus on brands within the film, television, music, gaming, eSports, culinary, lifestyle, and charity industries, FTX tweeted.
“Dolphin’s reach and scale across all of pop culture is very impressive to us,” FTX.US president Brett Harrison said in a statement. “We are excited to build marketplaces with Dolphin, both because of their ability to access content and IP, but also because they are leaders in public relations and influencer marketing for every major vertical of entertainment."
This is not the firm's first NFT venture. FTX launched a marketplace for the digital collectibles on June 3, where users could buy, sell and hold them, as well as withdraw the tokens to their personal wallets.
The crypto exchange closed its Series B funding round on July 20, raising $900 million from over 60 investors. According to the firm, the fundraise values FTX at $18 billion.
Gemini Galactic, an affiliate of cryptocurrency exchange Gemini, received approval from the Financial Industry Regulatory Authority (FINRA) to operate a broker-dealer registered with the SEC and is now a FINRA member.