Football Star Tom Brady Takes Equity Stake in FTX Exchange

FTX exchange has appointed renowned American football star Tom Brady as its brand ambassador. A report unveiled this news earlier today, noting that this agreement will see Brady become a shareholder in the crypto firm.

While FTX did not disclose how large a share Brady will get, the company said the player, who plays as a quarterback, would get his signing bonus in crypto. Like his share in the company, the cryptocurrency that Brady will get remains unknown.

According to the report, Brady’s role as an ambassador will involve introducing all FTX brands to a new audience through a variety of programs. Before this deal, Brady had already embraced crypto and went on to add laser eyes to his Twitter profile picture to show his support for the nascent asset class.

On top of this, he is looking to launch an NFT platform dubbed Autograph, which seeks to unite some of the most iconic brands and people in multiple industries, including sports, entertainment, and fashion, to mention a few.

In the same breath, FTX announced that it had joined hands with Brazilian model and activist, Gisele Bündchen. Just like Brady, Bündchen will become a shareholder in the company and will also get a signing bonus of an undisclosed amount in crypto.

Through this agreement, she will become FTX’s environmental and social initiatives advisor. Bündchen will also focus on charitable aspects of the company.

Fostering the mass adoption of cryptocurrencies

Apart from taking on the aforementioned roles in the company, FTX disclosed that its deal with both Brady and Bündchen required them to open Blockfolio accounts to trade and invest in cryptocurrencies.

This requirement aligns with FTX’s goal of expanding the scope of its retail footprint in the market, which saw the company acquire Blockfolio for $150 million in the past year.

This news comes as FTX continues spending large sums of money to ensure the widespread adoption of cryptocurrencies. In April, FTX entered into a $135 million partnership with the Miami Heat basketball team to rebrand the team’s home stadium to FTX Arena.

At the time, the President of The HEAT Group’s Business Operations, Eric Woolworth, projected that this partnership would draw global attention, seeing as it was the first of its kind in the industry.

Apart from this, FTX spent $210 million earlier this month to rename TSM, the most valuable professional e-sports team. The deal will see the team become TSM FTX, and it will last for 10 years, meaning the company has to part with $21 million each year.

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