MoonPay Signs Title Sponsorship Agreement Worth Tens of Millions of Dollars with Extreme Sports Event X Games

PANews reported on January 26 that, according to Decrypt, crypto payment company MoonPay has signed a three-year, multi-million dollar title sponsorship deal with extreme sports event X Games. Under the agreement, X Games' new team league will be named the "MoonPay X Games League".

The league will launch in Los Angeles in March, with plans to select 150 athletes to form regional representative clubs. The new format will provide athletes with benefits including a base annual salary of $30,000, travel expenses, and health insurance, aiming to shift their income structure from reliance on prize money and individual sponsorships to a more stable compensation system. MoonPay stated that this partnership will also provide exposure opportunities for its collaborative decentralized finance projects.