MoonPay’s Big Splash in the X Games

So, guess what? The X Games is getting a shiny new title sponsor in the form of MoonPay! Yep, that’s right. The crypto payment whiz has slapped down an eye-popping eight-figure deal to get their name right up there with all the skateboards and snowboards. This isn’t just a casual partnership; it’s marking a cool shift as the X Games dive headfirst into a team-based league format.

The Crafty New League Structure

With plans to draft a whopping 150 athletes into “regionally repped” clubs, the new MoonPay X Games League is set to kick off in March at a flashy shindig in Los Angeles. This partnership is part of a three-year marketing extravaganza, officially spilled during the final standalone X Games bash in Aspen, Colorado. Talk about a grand reveal!

From Solo Players to Team Players

Previously, the X Games was all about those nail-biting individual competitions, but fear not! They signaled changes over a year and a half ago when they announced a thrilling league format. Enter Jeremy Bloom, the brains (and maybe the brawn) behind this transformation, who famously juggled Olympic skiing and NFL football. Bloom promises that this new setup will bring “salaries, benefits, and real stakes” into the mix.

Sweet Perks for Athletes

And here’s the kicker: for all you aspiring skateboarders, BMX bandits, snow-shredders, and freeskiing fanatics, this new league setup comes packed with perks! Athletes are scoring sweet deals like paid travel expenses and even a health insurance stipend. Talk about leveling up from just relying on prize money and sponsorships!

MoonPay’s Game Plan

Keith Grossman, MoonPay’s top dog, reckons this partnership will really help support the athletes, and they’re looking to spread the deck of decentralized finance projects while they’re at it. On top of that, MoonPay is making sure their brand shines across the finance and banking realms, hinting at some shiny new team ownership opportunities that might fatten up athlete paychecks.

The Formula 1 Inspired Competition

Now, let’s talk details. The X Games is taking a page out of Formula 1’s playbook, where athletes will wrangle points for their teams across various disciplines. The league is set to dish out a base salary of around $30,000, which kinda echoes what’s happening in the NBA and the esports scene with those strategic team plays.

A Familiar Game for MoonPay

This whole deal might remind some folks of the UFC and its splashy sponsorship with Crypto.com, which was worth a whopping $175 million. Remember the cringe-filled Super Bowl ads from crypto companies? Good times, right? Meanwhile, the UFC has been cozying up to prediction platforms too, while the NHL is also hopping on the crypto train.

Goodbye Old School, Hello New Adventures

As the X Games gets ready to say adios to a nostalgic format that’s been around for decades, Grossman is all about securing a spot for MoonPay where the audience and ownership overlap. With 35 million potential consumers that vibe with the X Games crowd, you can bet they’ve got a box of tricks to bring into the mix.