CBA= Collective Bargaining Agreement
Athlete= someone that is good or extremely well versed at a sport or a form of exercise
Crypto= digital currency or asset we love to talk about this platform and tip to empower each other! (inserts dad joke)
I've slightly talked about this in the past, but its still mind boggling that we're struggling in 2020 to find athletes that are well versed in the cryptocurrency space. Again, only a handful of the major sports have attempted to get paid or sign endorsements that would pay out in cryptocurrency. When they have, its mostly been centered around BTC.
The reason this has been the case right now has more to do with how CBA's across major leagues are currently written. While a player can do their own endorsement deals outside of their team signed contracts that would net they some coveted digital moola, the CBA's are set up in a way that only allows team payouts to come from traditional fiat currency, or $ in the US. However, there is a similar apprehension to incorporating cryptocurrency in new CBA negotiations. It hasn't even come up in the latest rounds of post-bubble or COVID-19 related chatter.
Why is this important? Sport is a life blood and feeder for normalcy into western society. Don't worry, not going full philosopher on you, but the larger picture is someone is more likely to largely incorporate something they see on Sunday football into their routine than if they see it on some shady dark room chat. The league most likely to incorporate crypto into their CBA as a form of investment/payment will be the NBA in my opinion.
Athletes need to push on this because the amount they could receive in the form of signing bonuses and game by game payments could really swing things for new tokens and upcoming projects. We see what happens when athlete attention is focused on social issues. This would be a space that would further expand the ever growing influence and power athletes have. Imagine the good that could be done with those donations going to the Giving Block platform to support multiple NPO ventures from the sports space.
