FTX Commitment Towards Big Name Recognition Is The Reason Am Bullish On FTT
For the past 6 months FTX has been dedicated to making sure that the crypto exchange name is one of the biggest exchanges in the world. The company has spent millions of dollar acquiring and partnering with lots of companies and organizations.
Just to remind you that FTX was founded in 2019, during the first year, one of their biggest investors was Binance, just in a matter of 2 years, FTX has tried to climb to top 10 of the best crypto exchanges in the world, having its own native token FTT. Let me remind you of some of FTX achievements this year, the year is not over yet but the crypto exchange has done a lot for itself. The crypto exchange is valued to be worth $18 billion right now.
FTX dropped a whooping $210 Million on an esport company called TSM, to have their name attached to the name of one of the most successful e-sport companies in the world. This was done to make sure that the company’s name is boldly seen. The company didn’t just stop there, they went further to drop $135 Million on Miami heat’s stadium, to change the name to FTX Arena. As if that wasn’t enough they became the official crypto partner to Major League Baseball having their umpires wear an FTX uniform.
The company has also endorsed big time sport celebrities like Stephen Curry and Tom Brady. According to the CEO he said that the company is spending this much on name recognition because they want to make sure that when people are being asked about crypto exchanges, FTX should be among the list of crypto exchanges mentioned.
FTX also integrated NFT minting and NFT market place on the platform, initially the platform only allowed the sales of NFTs minted on FTX to be displayed on the market place but later added Solana based NFTs to be marketed on the NFT market place. There are plans to launch Ethereum based NFTs, but the time for that is unknown yet.
The price progress of FTT, the native token for FTX, is highly dependent on the FTX exchange. This is because most things like transaction fees are being charged in FTT and the money made from the FTX users are used to buy back FTT tokens and added to the liquidity protocol. FTX is not stopping and they have more plans to enable them attain what they desire to attain, this was a mistake I made with BNB. I had the chance and opportunity to buy up to 40 BNB when the price was just $20 but I didn’t. Well am not letting history repeat itself again, so am getting that FTT money right now.
Do note that this is not a financial advice.
Posted Using LeoFinance Beta
