What is Kayvon Thibodeaux's cryptocurrency?
Cryptocurrency has taken the world by storm, including the NFL. Several players have elected to have their full contracts paid to them digitally (with many opting for the very popular Bitcoin). Now, however, it turns out that some football players have even gone as far as creating their own digital currency.
Oregon defensive end and top-five prospect Kayvon Thibodeaux is one of those players who took advantage of the NIL (Name, Image, and Likeness) clause in college sports.
Back in September, Thibodeaux released his own cryptocurrency which he called "$JREAM". It is an exclusive on Rally, a digital platform known for allowing anyone to build a digital/crypto portfolio.
"I feel like crypto is such a new space and having an athlete involve in it kind of changes the dynamic of how athletes are viewed...I started looking at crypto in high school...this was the next step in starting my future."
Kayvon Thibodeaux Launches His Own Cryptocurrency, $JREAM - Market Realist marketrealist.com/p/kayvon-thibo… #crypto #cryptocurrency https://t.co/cpxUQnDjnT
As on February 18th, Thibodeaux's "$JREAM" is priced at $0.282, with 3,246 transactions and $298,000 backed by Rally. It's down from the initial opening value of $0.383, but that is very common in crypto. Once Thibodeaux is drafted into the NFL later this year as a potential top-three pick, the price of "$JREAM" should skyrocket.
Cryptocurrency in the NFL
Several NFL players have opted for some or all of their salary paid to them in Bitcoin or other cryptocurrency. NFL MVP Aaron Rodgers has a partnership with Cash App that will put a portion of his $22 million salary into Bitcoin.
The now-retired Tom Brady has been one of the main faces of crypto in the NFL, even paying a fan 1 Bitcoin to retrieve his 600th touchdown gameball.
JUST IN: Grayscale has become an official sponsor of the New York @Giants, becoming the first ever crypto partner of an NFL team https://t.co/IVjeTQROnh
Odell Beckham Jr. was one of the first to ask for his entire salary to be in Bitcoin. The New York Giants franchise was the first team to make a crypto deal and had their first crypto-sponorship with Grayscale Investments.
As more and more players and owners start to understand how cryptocurreny works, we could see more athletes asking to be paid via this method or even creating their own cryptocurrency like Thibodeaux did.