NFL’s Newest Carolina Panther, Russell Okung, Invests In Bitcoin Reward App Fold
Russell Okung, an NFL player from the Los Angeles Chargers, who also runs a venture startup called Okung Ventures, is backing the Bitcoin utility and reward app by Fold. The Bitcoin reward app would allow crypto holders to earn BTC as well as spend it. Fold allows users to spend crypto or fiat on major retail merchant platforms such as Amazon, Uber and Starbucks. And like many other payment apps which offer cash back, Fold rewards users in Bitcoin, which means the more the user spends using the Fold app, the more BTC rewards they receive.
Okung Venture has invested in Fold and the NFL player has been promoting the application for quite some time now. In an exclusive interview with Forbes, Okung sounded like a bigtime Bitcoin proponent who believes Bitcoin is a true revolution. He said,
“Simple tools that incentivize the average person to engage with bitcoin without having to do too much work. Most people don’t have the time or energy to research all of the possible implications of sound money, but you start offering them free money every time they shop at Amazon and Uber-like Fold does.”
Fold to Launch its Visa Debit Card
Fold has also joined hands with VISA and earlier this month the firm announced it has joined the Visa’s Fintech Fast Track Program, and they would be launching a Fold VISA debit card that would offer Bitcoin rewards as well.
Okung believes the launch of the debit card will be a major step towards widespread Bitcoin adoption as a common layman does not really care much about how innovative or great the technology is unless it has something significant to offer. Okung is a well-known Bitcoin proponent and became the talk of the crypto town when back in May 2019 he tweeted “pay me in Bitcoin.”
Since that iconic tweet, Okung has got himself totally involved with the Bitcoin ecosystem, where his firm has hosted a Bitcoin conference, invested in Fold. He also believes that Bitcoin’s decentralization is the only alternative to the centralized and crumbling legacy financial system.
However, Okung is not the first or the only sportsperson to have promoted or shown interest in the crypto space. Apart from him, Floyd Mayweather, the prominent boxer has also promoted Centra cryptocurrency in the past, however, its founders were later charged with fraud. Spencer Dinwiddie, Brooklyn Nets point guard has revealed that he will be promoting crypto lending and borrowing platform, Cred. Similarly, many other sportspeople and even teams have collaborated with different crypto firms and service providers. You can try the crypto rewards app Fold here.