Florida signs a multiyear deal with Ripple that includes cryptocurrency logos in the Swamp
Summary
Florida University has signed a multiyear deal with Ripple, a company that works with blockchain and cryptocurrency. The deal will bring $5 million every year by placing Ripple’s XRP logos on the football field starting with the upcoming game.Key Facts
- Florida University signed a sponsorship deal with Ripple worth $5 million annually.
- Ripple is a company that uses blockchain technology in finance and has a cryptocurrency called XRP.
- The XRP logos will appear on Florida Field at football games starting with the game against Florida Atlantic.
- The deal includes digital ads, event signs, and support for financial and technology education at the university.
- XRP is a cryptocurrency designed for fast and cheap money transfers.
- The NCAA allowed corporate ads on college football fields starting in 2024.
- Schools face new financial pressures from rules requiring them to share revenue with student-athletes.
- Last year, Geico paid $1 million per game for advertising on Florida Field for two games.
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