This installment of The Matt Allen Letter is free for everyone. If you would like to read about my stock market picks, stock analysis, and much more. You can subscribe here.
This time three years ago, I was called an idiot for believing in the future of cryptocurrency. However, cryptocurrency branding is changing right before our eyes.
When you think of modern brand deals between a company and/or an athlete/celebrity, what brands do you think of?
You usually think of your famous brands like Nike, Gatorade, Coke, McDonalds, Mercedes-Benz, Rolex, Ralph Lauren and their competitors.
However, we are seeing a rush of Crypto/Blockchain companies making a rush at MAJOR endorsement deals of high profile celebrities. This is very important, because it means the mainstream adoption of cryptocurrency.
I am going to focus on the athletic endorsement deals.
(If you are a rookie, it is important to know that a crypto like Bitcoin cannot give endorsement deals. Bitcoin is decentralized meaning not one single person owns all of “bitcoin.” Confused? Think about the “central bank.” The USA Government owns the central bank. This is one reason why I love bitcoin, and why it brings people freedom.)
I will just list the names of some of the most famous celebs, who have inked deals with crypto companies or NFT companies.
Paris Hilton, Kim Kardashian, Lindsay Lohan, Ellen, Shawn Mendes, Eminem, Snoop Dog, Tony Hawk, Steve Aoki, and pretty much every famous tik-tok user. Please note that this is a very small list, and I left out tons of people.
Trevor Lawrence- The first pick of the 2021 NFL draft signed an endorsement deal with cryptocurrency investment app Blockfolio. He will only take this deal in bitcoin, ethereum, and doge.
Saquon Barkley- The star running back for the New York Giants announced that he will be taking all of his future endorsement money exclusively in Bitcoin through a partnership with Strike.
Tom Brady, Gisele Bundchen- The 7x SuperBowl Champ and his supermodel wife, will each take an undisclosed equity stake in crypto exchange platform FTX Trading Ltd.
Russell Okung, Sean Culkin- They will accept their entire 2021 NFL salary in bitcoin.
FTX- is partnering with Major League Baseball to become the first official cryptocurrency exchange sponsor in professional sports. The Umpires wear an FTX patch.
MLB Crypto Baseball- An official partnership with MLB will see players collect, store, and trade blockchain-based baseball avatars similarly to how one might play crypto kitties or other blockchain-based games.
MLB Players Union- The MLB players union has demanded that the MLB allow the players to be paid in crypto.
The NBA has multiple deals with crypto and blockchain companies. I will just mention my favorites.
NBA Top Shot- The $2.1 Billion Dollar company that has turned NBA highlights into collectible NFT’s.
Miami Heat-FTX has been named the exclusive cryptocurrency exchange partner of the Miami Heat. AmericanAirlines Arena will be renamed FTX Arena beginning with the 2021-22 season as part of a 19-year sponsorship agreement worth $135 million.
Cade Cunningham- The number one NBA draft pick of 2021, Cade Cunningham, signed a sponsorship deal with crypto firm BlockFi Thursday that will see the up-and-coming Pistons point guard receive his signing bonus in bitcoin.
Crypto.com and The UFC have agreed to a 10 year $175 Million dollar deal that will give crypto.com, brand presence on fight kit items used throughout UFC including apparel (shorts, top bras, walk-out hoodies) worn by athletes during competition, and clothing worn by the training staff.
If you would like to learn about some of the stocks that follow the price of bitcoin, you can subscribe to my stock picks by clicking here:
What is your favorite crypto partnership? Please let me know in the comments!
Please let your friends and family know about my newsletter. See you next Wednesday!
Stay Hungry, Stay Long,