The National Basketball Association’s (NBA) Kevin Durant has entered a new deal with US-based crypto exchange Coinbase to become the “face of the brand.”
As Decrypt reported recently — citing Bloomberg as the source — Durant has entered a strategic partnership with Coinbase that will involve a mutual form of promotion. In exchange for becoming the face of Coinbase, the exchange will run crypto-based ads and sponsored content on Durant’s sports website Boardroom. The company will also donate to Durant’s charitable foundation supporting the youth.
Durant’s manager Rich Kleiman highlighted the significance of the deal and how the NBA star engages in “very few brand deals.”
Kleiman told Bloomberg,
They’re this new model of brand partner for us, where they do integrate in all different parts of our business.
Durant said he was excited about the new deal, claiming that he has always been curious about the “business side of things.” The Brooklyn Nets forward was an early investor in Coinbase in 2017 via Thirty Five Ventures, his investment fund with Kleiman.
The pair also launched a new Special Purpose Acquisition Company (SPAC) in November titled Infinite Acquisition Corp., with a focus on investing in crypto projects in addition to the sports industry, health and wellness and e-commerce.
Infinite outlined its interest in cryptoassets in a recent SEC filing:
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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.