Kayvon Thibodeaux, a defensive end from Oregon, launched his cryptocurrency Thursday. This is the latest in a series of unique business opportunities that he has entered since July's changes to the NCAA name, image, and likeness rules.
The $1REAM coin will only be traded on Rally, which is described as a platform that allows creators to create their own digital economies.
Thibodeaux stated that crypto was a new area and that having an athlete involved in it changes the way athletes are perceived. Thibodeaux spoke to ESPN. "I began looking at crypto when I was in high school. This was my next step in starting my own future.
Thibodeaux's initial price is less than $1, and there will be approximately 100,000 coins in circulation at launch. The initial price of Thibodeaux's coin is less than a dollar. Their release dates will be determined by demand.
Thibodeaux established the Jream Foundation to provide more opportunities for youth living in poverty. The coin shares a similar name. The foundation will receive twenty percent of the initial release.
The coin's buyers will be able to join a community online, which includes a Discord server and exclusive merchandise. There are many benefits that individuals will enjoy if they have more coins than they need. Many of these benefits will change over time. Thibodeaux is working on ways to give coins and interact with the community.
Nick Millman, Rally's vice president of partnerships, stated in a statement that "we're thrilled to watch young athletes explore the ways crypto can facilitate deeper relationships with fans." Kayvon and other innovators are changing the way athletes and fans interact.
Jaylen Clark, a UCLA basketball player, also partnered up with Rally to create his own cryptocurrency earlier in the month.
Thibodeaux is a potential No. Thibodeaux, a potential No. 1 pick in the 2022 NFL Draft, was one of the largest beneficiaries of NCAA's NIL rule change changes.
He announced in July a nonfungible token deal (NFT), with Nike founder Phil Knight, and Tinker Hatfield. It involved a piece artwork.
An eBay auction sold a canvas version of this artwork for $22,200. Thibodeaux's coin will be given to the winner of the auction.
"I had no idea how much it would cost." Thibodeaux stated that she didn't know what to expect. It was started at $500. It was crazy to me that it could go up to 20,000 dollars.
He announced last month a partnership with United Airlines, in which he will provide direct flights from Eugene to certain away games. According to a source, he also signed marketing deals with Starface and PlantFuel, both plant-based skincare and protein companies. He also signed a private memorabilia deal worth six figures.
Thibodeaux sustained an ankle injury during the Ducks' season opener win against Fresno State. He did not participate in the Ducks' games against Ohio State or Stony Brook. For Saturday's Pac-12 opener against Arizona, Thibodeaux is a game-time decision.
Thibodeaux was named the Pac-12 Defensive Freshman-of-the-Year in 2019, and was a first-team All Pac-12 selection last season. Thibodeaux arrived in Oregon as one the top players. Thibodeaux was the No. 1 player in class of 2019.
