The cryptocurrency market has been prominent around the world over the last year, and naturally, there were plenty of NBA players who have ventured into that sphere to do business as well.
For example, Kevin Durant invested in Coinbase when its valuation was only $1.6 billion, and eventually, the value of Coinbase rose to $100 billion. Legend Paul Pierce has also made a lot of money in the cryptocurrency market via currency Ethereum Max, hilariously proclaiming "I don't need you" to his former employers at ESPN.
The latest to enter that sphere is none other than Cade Cunningham, who has a new endorsement deal with BlockFi, which is a cryptocurrency platform. An article by Tommy Beer of Forbes revealed some more details on the partnership. Notably, the endorsement will be paid to Cunningham via Bitcoin, the most prominent cryptocurrency on the market.
Cryptocurrency platform BlockFi announced Thursday it has agreed to a multiyear partnership with Cade Cunningham, selected by the Detroit Pistons with the No. 1 overall pick in the National Basketball Association’s 2021 draft, and that the rising star will receive his signing bonus from BlockFi directly in bitcoin.
As part of the agreement, Cunningham will collaborate with BlockFi on educational videos, promotional giveaways, exclusive interviews and other efforts “to raise awareness about the value of cryptocurrencies.”
The financial details of the agreement have not been disclosed.
Cunningham, 19, said, “Many hardworking people still don’t have access to cost-efficient, reliable options to save and invest,” in a statement Thursday, adding he was drawn to cryptocurrencies due to “their ease of use, democratic and consensus underpinnings, and ability to evolve over time.”
Endorsements are a part of the territory when it comes to the NBA, and it looks as though Cade Cunnigham has wasted no time getting one. If Cade Cunningham can develop into the superstar that he's projected to be, then more endorsements will surely come. Perhaps we'll be hearing more about Cade Cunnigham's business ventures in the future, and this certainly seems like a great start.