Okung Ventures, the enterprise startup based by NFL star Russell Okung, is backing Bitcoin (BTC) loyalty outfit Fold to assist crypto holders earn
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 power 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 instructed Forbes he believes “discovering extra methods to EARN bitcoin is simply as vital as getting extra folks concerned about merely shopping for bitcoin.”
Bitcoin advocate and educator
Earlier this month Fold introduced it had joined Visa’s Fintech Quick Monitor Program and can launch a Fold Visa debit card that provides Bitcoin rewards. Okung stated it “represents a major step in direction of mainstream adoption of Bitcoin. We’re excited for our partnership and the chance to introduce much more folks to the perfect cash on the planet.”
Okung has change into 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 resolution to beat the approaching demise of the legacy monetary system”:
“Bitcoin modifications every little thing. As financial uncertainty continues to take its toll on our on a regular basis lives, I consider we’ll see increasingly folks expertise a shift in how they relate to cash.”
Well-known athletes pushing crypto
With the funding in Fold, Okung provides himself to a listing of outstanding 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 have been later charged with fraud by the U.S. Securities and Change Fee. In basketball, Brooklyn Nets level guard Spencer Dinwiddie lately introduced 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 modified his Twitter identify to remind his 300Okay+ followers of the halving, anticipated Could 12.