Cryptocurrencies
Kentucky Basketball Team Will Get Payouts From FTX in New Deal
- FTX has been spending big to make inroads in sports world
- Company will ‘assist’ in athletes’ digital-assets education
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Basketball players at the University of Kentucky can now monetize on their brand and image thanks to a new crypto-centric partnership.
FTX.US, the U.S. arm of the fast-growing FTX crypto exchange, on Wednesday announced a name, image and likeness sponsorship deal with the school’s men’s team, whereby each Wildcats player will receive monthly stipends, paid out in U.S. dollars via FTX debit cards. Each can also create their own non-fungible tokens on the FTX NFT platform and can keep most of the revenue on such sales, according to a press release. The athletes, in return, will act as brand ambassadors for FTX.