UK Basketball players sign NIL deal with Crypto exchange company

All players will be ambassadors
Posted at 1:44 PM, Nov 03, 2021
and last updated 2021-11-03 13:46:56-04

LEXINGTON, Ky. — The UK Basketball players have signed a new NIL deal with FTX US. That's a U.S. regulated Cryptocurrency exchange company.

The Wildcats players will be ambassadors of the FTX brand and each player will be compensated individually. Each of the players will be paid in U.S. Dollars monthly with the funds being made available to each of them on their own FTX debit cards. The players also have the individual opportunity to create NFTs on the FTX NFT marketplace, with each player receiving most of the revenue on the sale of their individual NFTs.

In its release, FTX Vice President of Business Development, Avi Dabir, said, "We’re thrilled to work with players from one of the most successful collegiate basketball programs in the country. Outside of the well-deserved financial compensation, we will be assisting in the student athletes’ education of digital assets so that they can make informed investment decisions as they look to enter the space.”

Two UK basketball players also reacted to the news of the sponsorship. “The team came together as a unit as we’ve done with all our NIL sponsorships, and it was unanimous that we wanted to partner with a brand like FTX. When speaking with the organization, it became clear our values aligned and their commitment to making a positive impact in the world through charity and other initiatives resonated with us all,” said Wildcats Guard, Kellan Grady.

“We’re excited to come on board as a team and look forward to learning more about the world of cryptocurrency from one of the top companies in the industry. In addition to a shared passion for greatness we work hard every day to be our best for our fans just like how FTX works hard for their customers,” Davion Mintz, guard for the Wildcats stated.

Per the teams request, FTX will also be making a charitable donation on behalf of the players.