X Games CEO Jeremy Bloom stated that the multi-year, multi-million-dollar title sponsorship agreement with crypto payment company MoonPay was driven by their shared appeal to a young audience. This partnership will establish the "MoonPay X Games League (XGL)," a new global team-based professional league set to launch this year, with the first participating teams from four cities. Bloom described the agreement as a deep brand partnership beyond traditional sponsorship, enabling MoonPay to promote its crypto ecosystem partners. MoonPay also holds an option to acquire league teams in the future.