ATHLETES COMPETE FOR CRYPTO
A sports industry crypto update
Savvy professional athletes such as Tony Hawk, Serena Williams, and Tom Brady have been investing in cryptocurrency for years now. Finally, the sports industry is catching up and adapting to the demands for digital assets among Gen Z and Millennial athletes. Like us regulars, athletes have the same aspirations to diversify their portfolios and build wealth, and they’re ensuring their sports careers meet these needs. We recommend stretching because we’re about to run through three athletes making both sports and crypto history.
CADE MCNAMARA X UNIVERSITY OF MICHIGAN
Gen Z quarterback Cade McNamara has made history as one of the first college athletes to get paid in crypto. His starting position for University of Michigan, and recent changes in NIL law, have allowed him to make a deal with cryptocurrency and live experience company MORE to receive endorsement payments in their own $MORE currency. Notably, MORE founder and CEO, Peter Klamka sees this moment as a turning point as he expects “other college athletes to soon follow Cade’s lead in seeking partnerships within the cryptocurrency community.”
LEO MESSI X PARIS SAINT-GERMAIN
World-famous soccer player Leo Messi will now get part of his estimated $29 million contract payout in cryptocurrency. His new soccer club, Paris Saint-Germain (PSG), will partially pay him in their crypto token, $PSG, which, in addition to its financial value, provides voting privileges in club decisions. Focused on engaging with “a new global audience” through a “digital revenue stream,” PSG is joining the crypto trend and ensuring continued relevance among Gen Z and Millennial fans and athletes.
SAQUON BARKLEY X NEW YORK GIANTS
Saquon Barkley, Gen Z running back for the New York Giants, will now be taking all endorsement payments in Bitcoin. In a move to ensure his wealth will continue to build, he’s confident in crypto’s ability to grow the over $10 million he makes from endorsement deals with Nike, Hulu, and more. Gen Z is concerned with their ability to move ahead financially, even when they are professional athletes making millions! We predict other young athletes will repeat Barkley’s decision as they seek out ways to invest beyond traditional financial institutions.