Sports Stars Are Earning Wealth With Cryptocurrency
March 2, 2022
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2:05Now PlayingSports Stars Are Earning Wealth With Cryptocurrency
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as posted by the channelCryptocurrency is becoming increasingly popular among athletes. Check out the video to learn more!
Welcome back to Bold TV with Samuel Bloomquist. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
As a professional athlete, you have an inside track to generational wealth, and many believe that crypto will help them get there. Here are three ways athletes are getting involved in cryptocurrency.
To begin, consider that Saquon Barkley, the New York Giants' running back, earns around $10 million in endorsements per season. Barkley said on the Big Business Show that he will be investing his future endorsement money in bitcoin to combat inflation. Barkley says with how high inflation has been lately. There is no way “to save yourself to wealth.” He believes bitcoin will help him maintain his wealth throughout times of supply chain shortages and inflated pricing.
Megan Rapinoe, a member of the US Women's National Soccer Team, was one of the first female athletes to release an NFT. NFTs, or non-fungible tokens, are online trading cards that may be acquired and held in online crypto wallets using blockchain technology.
Rapinoe released an NFT in 2021 that can only be bought using the cryptocurrency Ethereum. By associating her name with a one-of-a-kind collectible, she not only raises the price of her asset by increasing its popularity, but she also raises the value of the cryptocurrency required to purchase the item.
Finally, Spencer Dinwiddie, a shooting guard for the Dallas Mavericks, has launched Galaxy, a blockchain-based app for content creators. YouTubers, sports, musicians, and other forms of content creators can use Galaxy to create decentralized creator tokens for their fan networks. Creator tokens are a customized cryptocurrency that allows creators to monetize their communities while also incentivizing their fans to support them.
On Galaxy, fans can exchange creator tokens for prizes such as a personalized DM, a Twitter follow, or a unique video from their favorite content creator. All of these transactions take place on the blockchain.
So what do you think? Should more athletes follow suit? How are you getting on on crypto? Let us know in the comments below.
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