Oregon Duck’s defensive end Kayvon Thibodeaux is taking full advantage of the NCAA rule change that gives college athletes more control over their names, image, and likeness. The budding entrepreneur launched a cryptocurrency called $JREAM, trading exclusively on Rally. And interestingly, Thibodeaux’s vision for the coin may help redefine how celebrities leverage the crypto economy.
$JREAM: The Brief
In an interview with ESPN, Thibodeaux said of his digital currency: “I feel like crypto is such a new space, and having an athlete involved in it kind of changes the dynamic of how athletes are viewed. I started looking at crypto in high school and seeing the future in crypto, and how far it can go — this was the next step in starting my future.”
Nick Millman, Rally’s VP of partnerships, praised Thibodeaux and his vision: “We’re thrilled to see young athletes exploring the ways in which crypto can facilitate deeper connections with fans. Innovators like Kayvon are reinventing how athletes and fans interact.”
$JREAM launched with 100,000 coins and opened at 26 cents, climbing to a high of 33 cents. Thibodeaux eventually hopes to have 21 million tokens in circulation, noting that demand will dictate the release schedule.
Thibodeaux’s Crypto $JREAM Is About Access
Judging from the tenor of his interviews, coin valuation may not be a top priority for Thibodeaux. Instead, the projected NFL draft pick sees his token as a way to control access and build an engaged fan base. As of now, perks for $Jream holders include a private Discord server and exclusive merchandise. In interviews, Thibodeaux said he eventually wants to develop a coin gifting system to interact with his community more tangibly.
Thibodeaux’s vision reflects the changing face of pop culture. Middlemen are increasingly less relevant, and famous folks are adopting a more direct-to-consumer brand management approach.
Thibodeaux’s Other Ventures: NFTs, Charities, and Product Endorsements
This isn’t Thibodeaux’s first play in the blockchain space. In July, he announced an NFT partnership with Nike founder Phil Knight and renowned sneaker designer Tinker Hatfield.
The entrepreneurial athlete also set up a charity called the Jream Foundation, which serves disadvantaged youth, and inked deals with PlanetFuel, a plant-based protein product, and Starface, a skincare line. Word on the curb is that he’s also signed a six-figure private memorabilia deal.
But Thibodeaux isn’t the first college sports star to create a cryptocurrency. Jaylen Clark, the UCLA basketball phenom, did it first with his token $JROCK.
Consult With an NFT Lawyer
Athletes aren’t the only people releasing NFTs. Check out the 12-year-old kid in London who’s amassed nearly half a million dollars in the NFT market…so far.
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