Brooklyn Nets player Kevin Durant creates a new investment vehicle that UFC wants more of its crypto bonds. And FTX is taking even more steps and continuing its role as the standard looker in Slice. Let’s take a look back at the major crypto and sports news of the past week.
This week, the Philadelphia 76ers are the latest to kick off a team-specific NFT drop in partnership with youngest kit sponsor Crypto.com.
This year, powerful NBA teams like the Milwaukee Bucks, Golden State Warriors, Cleveland Cavaliers, etc. have run their own initiatives in the NFT. Many crypto exchanges and projects have also secured significant visibility in sports as StormX is a companion in the league.
If you’re a UFC fan, you may have noticed an increase in crypto engagement in sports – especially since Crypto.com acted as the official sponsor of the tournament.
The UFC is now expanding this relationship with Crypto.com with an exclusive UFC NFT line. According to the report, UFC athletes are said to receive 50% of NFT sales.
In last week’s slice, we covered FTX’s latest involvement in the sports world, as the ever-growing exchange appeared to be trapped in a Super Bowl commercial. This week FTX is working on some of the latest NIL promotions (name, picture and likeness). The exchange signed a team agreement with the Kentucky Wildcats basketball team. However, players are paid individually and are key aspects of a massive advertising campaign for the crypto platform.
Kevin Durant founds SPAC – or a special purpose vehicle for acquisitions. SPAC has had a season of ups and downs, especially late last year and early this year. The excitement has subsided and fewer and fewer high-quality companies have taken the SPAC route when going public.
However, Kevin Durant and business partner Rich Kleiman, the founders of Thirty Five Ventures, have built a reputation for investing in a number of successful companies, including Robinhood and Coinbase. One of the target categories for the upcoming Kleiman and Durant SPAC is “Cryptocurrencies and Digital Assets”.
It’s been a pretty good week for Green Bay Packers quarterback Aaron Rodgers. Known as one of the best passers-by in the game today, Rodgers began last week announcing a partnership with Cash App to receive part of his salary in Bitcoin. Rodgers is joining more and more NFL athletes. The partnership also saw over $ 1 million worth of crypto giveaways to Cash App users.
The news was tarnished for a few days by the impact of the Rodgers Covid protocol as the quarterback was sidelined with the Kansas City Captains that weekend, with uproar over the status of his vaccinations.
Cricket is a sport that is rarely seen in the United States, but one that has a wide global presence. Dapper Labs has built its global sports IP partners, starting with the NBA and WNBA as well as the NFL and LaLiga.
Dapper Labs has invested in part of a $ 17.4 million seed round behind Faze Technologies, a company looking to build a “metaverse for cricket” on the Dapper’s Flow blockchain. The Tiger Global-led seed round will place Faze in an antiquated match against the Polygon-based Rario, a cricket-based NFT platform that only launched a few months ago.
Dapper Labs will also introduce the Japanese media company mixi, Inc. in Flow, according to a recent press release. Dapper shows a clear initiative in building global relationships.
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Wilmington, Delaware, 7th November 2024, Chainwire
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