Kayvon Thibodeaux, an American football player at the University of Oregon, launched his own cryptocurrency, $JREAM, as a fan token. The digital assets will be issued through Rally.
Up until this Summer, the NCAA rules put strict limits on the ability of college athletes to earn money. The debate over this matter had been going on for years, and it eventually reached the Supreme Court, which ruled NCAA’s conduct unconstitutional and declared that student athletes had the right to benefit from their image financially. NCAA athletic departments earned $18.9 billion in 2019.
As a result of the changes, college athletes have been signing deals with brands left and right as well as starting their own initiatives. Kayvon Thibodeaux told ESPN he’s been looking into crypto since high school. He decided to launch his own fan token following the NCAA’s new rules that allow athletes to exploit their name, image and likeness (NIL), and the trend around blockchain initiatives in sports.
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