Washington Nationals team up with major blockchain network

Washington DC - Decentralized finance, or DeFi, and all the hype the blockchain has to offer are still growing – enough to attract the attention of an MLB franchise. But did they hit a foul ball, or crack it out of the park?

The Nationals have a new sponsor from the blockchain.
The Nationals have a new sponsor from the blockchain.  © Collage: IMAGO / ZUMA Wire, Terra.money

The Washington Nationals announced a partnership deal with the Terra network, a blockchain-based organization that controls various mainstream cryptocurrencies.

Part of their stated goal is to educate the masses on what cryptocurrency is and make it more accessible.

Terra gets a pretty sweet deal, because even though fans can't yet use its cryptocurrencies at Nationals games, the organization will feature as a sponsor behind home plate, according to The Hill.

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And that is only the tip of the advertising iceberg.

The MLB team will rename it's fanciest premium lounges, calling them "The Terra Club" or just "The Club".

The Nationals also agreed to release five explainer videos for the Terra network.

Hopefully, those video include talking about how the Terra network is a decentralized autonomous organization (DAO). This is yet another side of blockchain technology, and each DAO has three main parts.

There are the members of the DAO, a token – such as Terra's cryptocurrency UST – and a digital machine that interacts with the blockchain.

Individuals can invest one of the cryptocurrencies managed by the company in "Validators", which are representatives who in turn cast vote tokens. This is how the DAO makes decisions, and the digital machine documents that vote on the blockchain.

If you're thinking this makes the "Decentralized" part of DOA sound a lot less strong, you're not the only one. Given that the people with more tokens – i.e. capital – have a louder voice in this decision-making process, things quickly end up looking like the same power structures of any traditional corporation.

Either way, the ideals of cryptocurrency may finally turn into reality when and if fans can buy their tickets, drinks, and snacks with a digital coin.

Cover photo: Collage: IMAGO / ZUMA Wire, Terra.money

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