The Warriors dynasty of the mid-2010’s changed everything about the NBA; From their playing style to the way they structured their roster, the Dubs set the standard for what the modern NBA dynasty should look like.
But those Warriors also revolutionized the NBA off-the-court. The beauty of the Warriors playing within driving distance of Silicon Valley opened up a brand new world for athletes and the way they invest their earnings.
Andre Iguodala (in my personal opinion) was the true originator of this movement. Iggy began investing in tech companies that he was passionate about, and his ability to not only understand the companies but want to be actively involved in nurturing innovation is the model for the modern entrepreneur.
To give you an idea of Andre’s vision: he invested in Zoom. I think it’s pretty safe to say that his foresight into the type of technology Zoom could turn into proved itself very true over the past year and a half.
Kevin Durant has also been extremely active in the investment world, co-founding Thirty Five Ventures along with manager and business savant Rich Kleiman. Thirty Five has invested in over 40 companies including Overtime, Postmates, Coinbase, Sleeper, Acorns, Whoop, and the Philadelphia Union. KD and Kleiman also started The Boardroom – a media network focused on merging together the worlds of business and sports in a way that is consumable, entertaining, and educational.
Spencer Dinwiddie was next to innovate the modern NBA entrepreneur. Dinwiddie, who refers to himself as “A tech guy with a jumper,” was an early adopter of Bitcoin and blockchain as a whole. Dinwiddie had already explored the entrepreneurial world prior to his involvement with Bitcoin by launching his own sneaker brand, K8IROS, but made major news with his announcement that he would tokenize his entire contract.
Fans/investors could purchase a share of Dinwiddie’s contract, creating up-front cash for Dinwiddie and the opportunity for growth (and a very cool asset) for investors. It has yet to be seen where tokenized contracts will head in the future, but Dinwiddie’s ambitious exploration of the space has set the path for players like Cade Cunningham to continue to change the game.
BREAKING: Cade Cunningham, the 1st overall pick in the 2021 NBA Draft, has signed an exclusive, multi-year partnership with crypto company @BlockFi.
As part of the deal, Cunningham is being paid 100% of his signing bonus in Bitcoin. pic.twitter.com/UKsWZYajgB
— Joe Pompliano (@JoePompliano) August 19, 2021
The first-overall pick and new face of the Detroit Pistons just announced that he will be converting his entire signing bonus (amount not disclosed) into bitcoin through his partnership with crypto company BlockFi. I personally think that this type of partnership is revolutionary and should continue to set the trend in the future for young athletes as they look to learn and diversify their assets.
Cunningham signed a 4 year, $46M contract that is fully guaranteed. That is more than enough money to live a luxurious lifestyle, and Cunningham’s partnership with BlockFi gives him an investment vehicle that could potentially see his signing bonus multiply if the growth of bitcoin sustains.
I was lucky to work in the world of sports and investing in my previous role at SeventySix Capital/SeventySix Capital Sports Advisory. Having the chance to work with world-class athletes and watch as they took their experiences at the highest level of sports into the boardroom was truly awe-inspiring. Guys like Cade Cunningham are going to continue to merge the gap between athletes and executives, and the companies that see the value that athletes bring to the table will be the ones who continue to flourish.
Today’s Sports on FuboTV:
Soccer Streaming – How & Where To Watch
Arsenal vs. Chelsea – Premier League – 11:30 AM ET – NBCSN/Telemundo – STREAM
Udinese vs Juventus – Serie A Season Opener – 12:30 PM ET – CBSSN – STREAM
Washington Spirit vs. Orlando Pride – NWSL – 4 PM ET – CBSSN – STREAM
Club América vs. Tijuana – Liga MX – 5:55 PM ET – TUDN – STREAM
NFL Streaming – How & Where To Watch
New York Giants vs Cleveland Browns – NFL Preseason- 1 PM ET – NFL Network – STREAM
San Francisco 49ers vs Los Angeles Chargers – NFL Preseason- 7:30 PM ET – NFL Network – STREAM