Okung Ventures, the enterprise startup based by NFL star Russell Okung, is backing Bitcoin (BTC) loyalty outfit Fold to assist crypto holders earn BTC in addition to spend it.
The Los Angeles Chargers participant invested in, and has been selling Fold, an app which provides customers the flexibility to spend Bitcoin or fiat foreign money at main retailers comparable to Amazon, Uber and Starbucks. Equally to cashback rewards from main bank cards: the extra you spend, the extra Bitcoin rewards you earn.
Okung advised Forbes he believes “discovering extra methods to EARN bitcoin is simply as essential as getting extra folks thinking about merely shopping for bitcoin.”
Bitcoin advocate and educator
Earlier this month Fold introduced it had joined Visa’s Fintech Fast Track Program and can launch a Fold Visa debit card that gives Bitcoin rewards. Okung stated it “represents a major step in the direction of mainstream adoption of Bitcoin. We’re excited for our partnership and the chance to introduce much more folks to the very best cash on the earth.”
Okung has turn out to be one thing of a crypto educator since tweeting “pay me in Bitcoin” in Could 2019. His firm has since hosted a Bitcoin convention in Los Angeles. He stated that he noticed Bitcoin as “a sensible answer to beat the approaching demise of the legacy monetary system”:
“Bitcoin adjustments all the pieces. As financial uncertainty continues to take its toll on our on a regular basis lives, I imagine we’ll see increasingly more folks expertise a shift in how they relate to cash.”
Well-known athletes pushing crypto
With the funding in Fold, Okung provides himself to an inventory of distinguished sports activities figures and celebrities endorsing cryptocurrency.
Boxer Floyd Mayweather promoted Centra, a cryptocurrency mission that raised over $32 million throughout its preliminary coin providing, however whose founders had been later charged with fraud by the U.S. Securities and Trade Fee. In basketball, Brooklyn Nets level guard Spencer Dinwiddie not too long ago announced he was selling crypto-based lending and borrowing platform Cred.
With the upcoming BTC rewards halving, others have been utilizing their platforms to encourage shopping for and holding the cryptocurrency. Former UFC fighter Ben Askren even changed his Twitter name to remind his 300Ok+ followers of the halving, anticipated Could 12.
