4 Nov 2021
Kentucky Basketball Team Partners with FTX in New Crypto Deal
The Index Today
With the new crypto-centric partnership, University of Kentucky basketball players can receive their monthly pay in the form of FTX debit cards which can be used to create non-fungible tokens on the FTX NFT platform where the athletes will work as the brand ambassadors.
Avi Dabir, vice president of business development at FTX.US said in a press release, “Were thrilled to work with players from one of the most successful collegiate basketball programs in the country. Outside of the well-deserved financial compensation, we will be assisting in the student athletes’ education of digital assets so that they can make informed investment decision as they look to enter the space.”
The college’s athletic associated discussed the possibility of athletes being able to use their names and images to gain profit, and voted in favor of the decision earlier this year. This meant that athletes can now make money through other mediums such as commercials, social media posts and even autographs.
A number of commercial companies have started approaching famous athletes at the university to partner on projects. According to a recent press release, Kentucky University’s Basketball team is among the highly celebrates and has eight NCAA championships and 17 Final Four appearances. Davion Mintz, guard for the Wildcats said, “Were excited to come on board as a team and look forward to learning more about the world of cryptocurrency from one of the top companies in the industry.”
The FTX partnership will bring new audiences in the field and expand visions for both the team and themselves. The crypto exchange has recently acquired valuation of approximately $25 billion and sponsors Major League Baseball. FTX has also acquired naming rights to a famous arena and has signed a long-term contract with Tom Brady and Gisele Bundchen.