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Cryptocurrency in Real Estate

Miami-Dade County and Miami Heat Cuts Naming Rights Ties with Cryptocurrency Exchange FTX for Miami Arena

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FTX Pulls Out of Miami Arena Deal

Miami-Dade County and the NBA’s Miami Heat have ended their partnership with the insolvent cryptocurrency exchange FTX and are now looking for a new naming rights partner for their downtown Miami arena.

The statement followed the FTX group’s CEO resignation and bankruptcy filing in the US earlier on Friday, which marked the shocking demise of one of the biggest and most influential figures in the cryptocurrency business.

Miami-Dade County and Miami Heat stated in a joint statement on Friday night that they will cooperate to find a new naming rights partner for the stadium, which was only rebranded as FTX Arena last year, and that they find the reports concerning FTX to be “very upsetting.”

Like other cryptocurrency businesses, FTX has spent a lot of money sponsoring athletes. For the renaming of the Miami arena in June 2021, FTX reportedly signed a $135 million, 19-year contract. This deal would have also included $2 million annually to the Miami Heat.

A five-year agreement was also reached in 2021 for Major League Baseball to designate FTX as its official cryptocurrency exchange. FTX is also the Mercedes-AMG Petronas Formula One Team’s authorized

With the University of California, Berkeley negotiating a $17.5 million, 10-year naming rights arrangement for the school’s football stadium in 2021, even college sports have connections to FTX.

American Airlines Partners with Overture for Supersonic Planes

Want to Fly to Miami from London in 5 Hours? American Airlines is Trying to Make it Happen

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American Airlines Partners with Overture for Supersonic Planes Thanks to American Airlines’ recent purchase of 20 new supersonic planes, passengers may soon be able to travel from Miami to London in less than five hours.

The agreement between American Airlines and Boom Supersonic to buy up to 20 Overture aircraft, with an option for a further 40, was made public on Tuesday.

With a range of 4,250 nautical miles, Overture aircraft are intended to carry 65 to 80 passengers at Mach 1.7 over water, which is twice as fast as the current fastest commercial aircraft.

According to American Airlines’ CFO, Derek Kerr, “Looking to the future, supersonic travel will be an important part of our ability to deliver for our customers. We are excited about how Boom will shape the future of travel both for our company and our customers.”

According to the business, Overture aircraft might someday travel more than 600 flights around the globe in as little as half the time.

There are several options, such as flying from Los Angeles to Honolulu in three hours or from Miami to London in under five.

With Overture, the world’s fastest aircraft, Boom Supersonic is revolutionizing air travel. Overture was designed for speed, safety, and sustainability. Overture, which will serve both civil and government markets, is built to run entirely on sustainable aviation fuel and will travel twice as fast as today’s airliners.

Overture is expected to debut the Boom Supersonic in 2025 and carry its first passengers by 2029, received its final production design in July.

Air France and Turkish Airlines Increase Flights to Miami

Turkish Airlines and Air France Increase Flight Schedules to Miami

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Air France and Turkish Airlines Increase Flights to Miami

Miami has always been a go-to city for many reasons but more recently people from all over the world are flocking to The Magic City. Whether it’s for the food, nightlife, or the beaches, there is something for all on this east coast town.

With the increase of people moving and visiting Miami, airports are busting at the seams trying to keep up with the demand. To help with the overflow, 2 major international airlines have announced they will be increasing flights to Miami starting soon.

Turkish Airlines and Air France are increasing their flight schedules to Miami. Turkish Airlines have announced that they will have 2 flights every day from Istanbul to Miami. This flight pattern is set to begin on March 27, 2022.

With Air France, their daily flights between Paris and Miami are set to increase by 20% daily beginning July 2022, up to 7 daily flights.

Air France currently services 11 cities in the United States and that includes Atlanta, Boston, Chicago, Detroit, Houston, Los Angeles, Miami, New York, Seatle, San Francisco, and Washington D.C.

According to the Miami International Airport, flights to Miami are already up 17% and that number is steadily growing and the US is at 90% of its 2019 flight levels.

If Miami continues to break International travel records, we can only look forward to new flights, hubs, and destinations linking to Miami in the future.

Alaska Airlines Announces New Direct Flight to Miami

Alaska Airlines Announces Daily Flights from Miami to Seattle

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Alaska Airlines Announces New Direct Flight to Miami

Coming in June 16, 2022, Alaska Airlines will begin daily transcontinental flights from Miami to Seattle. This will be Alaska Airlines’ 100th nonstop destination.

As of March, Miami has joined Oneworld Alliance. Oneworld Alliance was founded in 1999 as an airline alliance featuring 14 airlines that have flight patterns all over the world.

Alaska Airlines currently partners with American and maintains the Miami hub for the Latin America and Caribbean sectors, so it’s no surprise with the recent announcement.

According to the Alaska press release, “Think Seattle to Miami, then onward to locations such as Rio de Janeiro, Buenos Aires, or the U.S. Virgin Islands.”

American is currently the only carrier that flies from Seattle to Miami. The return of the Alaska Airlines flight will be the first time in a decade. The last time the company serviced the area was in 2012 around the same time the company cut operations to Florida.

The company will be using a 737-900 plane and will be the longest continental U.S. flight by distance. The flight itself will take 6 hours from west to east and 6 hours and 30 minutes from west to east.

The airline also services Fort-Lauderdale International Airport with expansions into Lost Angeles, Cleveland, San Francisco, and San Diego.