MoonPay signed an eight-figure, three-year deal to become a title partner of the X Games, creating the MoonPay X Games League and unveiled in Aspen ahead of a March draft in Los Angeles that will assign 150 athletes to regional clubs, aiming to support a new team-based format and expand decentralized finance exposure (see that the league is set to draft). The league shift was previously signaled as part of broader structural changes under new leadership.
The league will cover multiple disciplines, including skateboarding, BMX, snowboarding, and freeskiing, and promises paid travel and a health stipend, according to Powder. “salaries, benefits, and real stakes.” is how Jeremy Bloom described the focus on athlete support, and reports indicate a base salary of $30,000 per athlete (Ed. note: the $30,000 figure appears in a LinkedIn post).
MoonPay says its branding exclusivity covers finance and banking, and it will push distribution for decentralized finance projects while exploring new team ownership opportunities to raise athletes’ take-home pay. “Under the new structure, hopefully the athletes will start to become more supported,” said Keith Grossman.
The partnership echoes past crypto-sports deals, such as when the UFC clinched a multiyear deal with Crypto.com, and recent sports tie-ins like NFT group Pudgy Penguins participating in league events. “We have 35 million consumers that ultimately align with the same demographic as the X Games,” Grossman added.
