With crypto currency markets and trends moving at such a rapid pace these days, many tech savvy individuals are leaving lumbering corporations and regulators in their wake and becoming innovators in the field.
Nowhere is this truer than with sports stars, many of whom are either investing heavily in crypto or who are becoming crypto entrepreneurs in their own right.
Here we look at just some of the elite sports stars who are big into crypto.
High profile names in the NFL have been cheering on the adoption of crypto currencies in their sport
Okung has long made noises on social media about wanting to be paid his NFL salary in Bitcoin. In 2020 he seemed to have finally got his wish, declaring that the Carolina Panthers had paid a recent instalment of his multi-million-dollar contract in the crypto currency.
In the end this was proven to technically not be the case and may have been more about a quick grab at some publicity, but what is for sure is that players like Okung are very much open to the idea.
Taking things a step further than Okung, is NBA player Spencer Dinwiddie, who rather than waiting to be paid in crypto, went about forming his very own crypto investment vehicle, which is called Dream Fan Shares.
This essentially offers investors the chance to buy crypto bonds from Dinwiddie, which are predicted to deliver just below 5% interest per month. It is unclear how much of a good bet this really is, but time will tell, with much depending on how well the Brooklyn Nets and Dinwiddie live up to their odds of being NBA playoff contenders this season.
To further sweeten the deal for some lucky investors, Dinwiddie has even said that he will treat 8 of them to an all-expenses paid trip to the NBA All-Star weekend, but only if he is selected to play. This is certainly an attractive proposition, that ranks right alongside sign-up deals that online sports comparison sites offer up, combining it with an added incentive that only a top NBA player can provide.
Lots of other like-minded sports personalities and betting punters will be watching on in interest to see how Dinwiddie’s venture and his NBA career pan out.
Some NBA players have been willing to disregard the advice of the league to pursue their own crypto business dealings
Perhaps one of the most high-profile athletes to make moves in the world of crypto currencies is the greatest female tennis player of all time, Serena Williams.
Although she has not developed her own “Serena” coin just yet, she has previously invested in companies such as Coinbase.
Boxers are renowned for hitting without getting hit themselves, but the opposite tends to befall them in the business arena, where they are susceptible to being taken advantage of by shady operators.
Alas, the man known as Money has twice ventured into crypto investments, only for him to find himself embroiled in less than savory enterprises on both occasions.
This was through no fault of his own but does show that pro athletes should do their homework before getting involved with crypto ventures that appear too good to be true.