Kevin Durant continues to make strides in the digital and virtual currency industry. He recently signed a multi-year promotional deal with cryptocurrency exchange platform Coinbase Global.
The deal features cryptocurrency content and education along with NFT news and creation. Kevin Durant will be the face of Coinbase, appearing in ads and promoting the brand. Furthermore, Durant’s status within the company increases from investor to partner.
“Kevin is a perfect partner for Coinbase because he is genuinely experienced and excited about crypto. He is a builder and embodies an entrepreneurial spirit that we look for in our partners. His authenticity will be critically important to helping us reach millions of fans around the world.”Coinbase Chief Marketking Officer Katie Rouch
“He’s been a builder his entire life and a Coinbase investor since 2017 – now we’re welcoming @KDTrey5, @35Ventures, and the @boardroom media network as official partners.”Coinbase
Coinbase will post sponsored content and digital ads on Durant’s sports site The Boardroom. In addition, the partnership will provide support to youth programs and the Kevin Durant Charity Foundation.
The relationship between Kevin Durant and Coinbase started in 2017. His venture capital firm Thirty Five Ventures invested $100 million in Coinbase Global. The company’s value has increased from $1.6 billion to over $86 billion, earning Durant a 53x profit due to his early investment.
Crypto becoming new trend in sports
Digital currency is the new wave in sports. Athletes often seek ways to earn additional income outside the playing field. As a result, crypto companies are spending millions to form sponsorship deals with athletes, teams, and leagues.
In addition to Kevin Durant, the NBA signed a sponsorship deal with Coinbase Global. Moreover, the Lakers’ Staples Center will officially become the Crypto.com Arena on Christmas Day.
Several NFL players are also getting into the cryptocurrency industry. Tampa Bay Buccaneers quarterback Tom Brady sells NFT’s on his own digital media platform called Autograph. Furthermore, Aaron Rodgers and Odell Beckham Jr. are taking all or a portion of their salary this year in bitcoin.