MoonPay Signs Multi-Million Dollar Title Sponsorship Agreement with Extreme Sports Event X Games

According to Decrypt, crypto payment company MoonPay has signed a three-year, multi-million dollar title sponsorship agreement with the extreme sports event X Games. Under the agreement, the new team league format of X Games will be named the 'MoonPay X Games League.' The league is set to launch in March in Los Angeles, with plans to select 150 athletes to form regionally representative clubs for competition. The new format will provide athletes with benefits including a $30,000 base annual salary, travel expenses, and health insurance allowances, aiming to shift their income structure from relying on prize money and individual sponsorships to a more stable salary system. MoonPay stated that this collaboration will also offer exposure opportunities for its partnered decentralized finance projects.