TL;DR Breakdown
- The Washington Nationals baseball team displayed Terra LUNA's banners in the stadium on MLB opening day.
- Despite the collapse of Terra LUNA's native token and stablecoin, the partnership with the Washington Nationals continues to hold firm.
- TerraLuna pledged $38.2 million in UST over five years to win the Washington Nationals partnership, just months before its native token and stablecoin collapsed.
As baseball fans eagerly gathered for the Major League Baseball (MLB) opening day at Nationals Park in Washington D.C, they were greeted with a surprising sight. The collapsed crypto ecosystem, Terra LUNA, was displayed on banners throughout the stadium, promoting its slogan, “a decentralized economy needs decentralized money.”
On March 30, a Twitter user who attended the home opener between the Washington Nationals and the Atlanta Braves posted a photo of Terra’s banner prominently displayed at the stadium. The message on the banner read, “A decentralized economy requires decentralized money.”
The user indicated their interest in Terra and said they would investigate the company more because it appeared trustworthy.
Despite the collapse of its native token and stablecoin, the partnership between Terra and The Washington Nationals continues to hold firm.
Jesse Dougherty, the Washington Post’s nationals beat writer, recently took to Twitter to share that Terra Luna’s VIP club is still present behind the home plate at Nationals Park, along with a large banner in the left centre promoting the cryptocurrency.
Terra’s partnership with the Washington Nationals was established in February 2022, just a few months before the collapse of its native token, Luna, and stablecoin UST, which resulted from a liquidity crisis. TerraLuna committed $38.2 million in UST over five years to secure the partnership.
Terra Labs’ former CEO proposed the partnership, Do Kwon, through the community’s governance platform. However, since the collapse of TerraLuna, Do Kwon has been on the run from the authorities.
Earlier, it was reported that, Do Kwon, the founder of Terra, was apprehended in Montenegro, aided by one of his associates, Han Mo. Kwon is currently held in a Montenegrin jail known for its poor conditions, such as overcrowding and inadequate healthcare, making it a challenging environment for the founder of Terraform Labs.
