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Each spectator handed out $500 in crypto in the season opener at a section of the FTX Arena

Major cryptocurrency exchange FTX has given $500 in crypto to every spectator sitting in a section of the FTX Arena in Thursday’s Miami Heat season opener game against the Milwaukee Bucks.

As well as the crypto giveaway, each fan in the stadium received a T-shirt with a QR code that grants access to a special ‘Opening Night FTX Arena NFT’.

Fans will no doubt wonder whether free crypto giveaways will become a regular occurrence at Miami Heat games, with completely unconfirmed social media speculation that a different section of crypto may be awarded to each game to fuel the excitement.

Messari founder Ryan Selkis did some of the back of the envelope math and determined that with 21,000 spectators and 80 seating sections in the arena, the giveaway would cost around $150,000—which is pretty bang for the buck because the stunts are on social media. Went well.

In April, FTX paid $135 million to rename the Miami Heat NBA arena FTX Arena for the next 19 years—a bold move considering the company is only two years old.

“Don’t sleep on how powerful this sponsorship will be,” wrote podcaster Anthony Pompliano.

related: FTX Crypto Exchange Raises $420M From 69 Investors

Udonis Haslem, the 3-time NBA Champion Miami Heat legend, also featured on FTX’s “You In, Miami?” was announced as the ambassador for Campaign in game. FTX says it plans to work closely with Haslem to promote crypto in the greater Miami area.

“I am excited to share our community with FTX and to work with them to raise awareness of the cryptocurrency,” Haslem said.

Promotional Blitzkrieg is the most recent installment in FTX’s ongoing campaign to target sports fans as a way to bring in more mainstream consumers.

In May FTX’s price index app Blockfolio signed an endorsement deal with top NFL Draft pick Trevor Lawrence. It recently signed a $210 million deal to sponsor eSports team TSM, changed the team name to TSM FTX for the next 10 years, and has been a sponsor of major league baseball since June.

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