From the huddle to the HODL. Athletes are embracing crypto, from getting their salary in cryptocurrency to buying stakes in exchanges. What will it mean for the industry?
). While this might not sound revolutionary, it has a significant impact on cryptocurrency adoption.
Crypto sports betting allows for a safer betting experience for sports fans so that sportsbooks can enjoy enhanced security, something that traditional betting methods failed to provide. Moreover, since cryptocurrencies can be accepted virtually everywhere, people from across the globe can participate.sold a video of himself performing
a reverse-windmill dunk for over $100,000 as an NFT, and that’s far from the only example of athletes cashing in on the NFT hype. There’s even an entirely separate marketplace for it. NBA TopShot is an NFT platform that lets people “own basketball's greatest moments” as NFTs, and in less than a year, the platform has earned over $700 million in sales. Additionally, various sports teams have also released their own NFT collections, with San Francisco NBA team Golden State Warriors being the first.