In cryptocurrency breaking news, NBA star Kevin Durant of the Brooklyn Nets just announced that he is joining forces with Coinbase. The basketball star along with his company, Thirty Five Ventures, signed a multi-year deal to promote Coinbase Global Inc. across his business.
According to the agreement, Durant will become the face of the brand in advertisements. In addition, Coinbase is also joining with Boardroom, his sports site. That deal will feature sponsored content related to cryptocurrency and digital ads. The platform also agrees to put money into Durant’s foundation, which supports youth programs. However, the financial details were not made public.
Basketball and a Business Mind
Longtime manager and co-founder of Durant’s firm, Rich Kleiman said in a recent interview, “Kevin does very, very few brand deals and that was by design.” He said, “They’re this new model of brand partner for us, where they do integrate in all different parts of our business.”
In an email released by Durant, he said, “Even when I was younger, I was always curious about the business side of things and always trying to learn from the people I’ve gotten to meet along the way.” He continued, “Basketball was always number one for me, but it was clear that there was a lot more that I could accomplish if I had the right team around me.”
Over the years, Kevin Durant has invested in OpenSpa, Therabody, and Postmates. Coinbase shares continue to rise over 2% in the past few months.
