FTX secures naming rights sponsorship of Australian Blockchain Week

FTX chief executive Sam Bankman-Fried is among the guests expected to present during the flagship blockchain event

Bahamian-based crypto derivatives exchange FTX will be the naming rights sponsor of this year's edition of the Australian Blockchain Week. The festival is scheduled to run from March 21st to 25th and will cover 75 online, in-person, and hybrid events.

The major topics that will be covered include taxation, the Metaverse revolution, sovereign digital currencies, venture capital, Web3 & its privacy implications, and regulations. More than 200 speakers are set to attend, including blockchain entrepreneur Sam Bankman-Fried.

No specifics on the partnership terms have been revealed as of press time. However, in his LinkedIn post announcing the arrangement, Steve Vallas, the head of Blockchain Australia (the organiser of the festival), described the milestone as massive.

'The mainstream moment has now arrived'

He added that the upcoming five-day event would be a 'watershed moment' for the local blockchain industry.

"Blockchain Week will be a watershed moment for the Australian blockchain ecosystem. The mainstream moment has now arrived. The […] event will be the largest event of its kind to ever be held in Australia," Vallas wrote.

The arrangement comes when the local blockchain sector is still evolving and aiming at mainstream reach. In a statement included in Blockchain Australia's announcement post, Vallas hailed the festival's timing.

"Growing interest in blockchain technology from major financial institutions together with signs of increasing regulation for the industry mean this year's event is being held at a critical time for all players in this market," Vallas said in the shared post.

FTX chief gushed over the Australian crypto ecosystem, labelling it as 'vibrant and innovative.' The exchange plans to promote and advance the growth of this blockchain space, as per Bankman-Fried, who additionally noted the partnership was the first effort in line with this goal.

"We look forward to contributing to discussions to advance the local industry, better safeguard and protect consumers, and enabling financial institutions to evolve and thrive in the crypto industry," the FTX chief remarked.

The Australian blockchain industry is attracting big names

The free, open and inclusive event will take place across six Australian cities: – Adelaide, Brisbane, Launceston, Melbourne, Perth and Sydney. It will also be shared with a wider global audience via broadcast.

This latest deal the global crypto exchange has sealed is an attempt to reach out to Aussie residents. The development follows hot on the heels of an announcement from Crypto.com also targeting the Australian market.

Yesterday, the Australian Football League (AFL) shared news of a new five-year partnership with the Singaporean exchange in a deal estimated to be worth $18 million. The latter is set to benefit from the deal as the league's official cryptocurrency exchange and trading platform.