Canadian long track speed skater Ted-Jan Bloemen is the first Olympic athlete to be paid in crypto after signing a sponsorship deal with cryptocurrency social network onG.social and virtual reality developer CEEK VR. The double world recorder holder, who is currently competing in the Pyeongchang Olympics, announced this unique partnership via Twitter.
As part of the deal, Bloemen will receive compensation in crypto for documenting his Olympic journey on onG.Social and appearing in a 360° Virtual Reality Experience on CEEK VR. Despite the constant, unpredictable fluctuations of cryptocurrencies, Bloemen expressed confidence in the partnership, elaborating on the fact that he was partially paid in cash:
“For me, the real risk of not getting anything is not there, because I got a little (cash) out of it already. And that combination makes this sponsorship really fun, right.”
Bloemen recently competed in the 5,000-meter speed skating event, winning the silver medal. He is set to skate in the 10,000-meter race on February 15.
Though Bloemen may hold the title of the world’s first Olympic competitor paid in cryptocurrency, he is not the only athlete to accept payment in crypto. A few weeks ago, an amateur Turkey football club made headlines after signing what is believed to be the first player paid in Bitcoin. Cryptocurrency sponsorships in sports are also growing. Last month, Arsenal Football Club announced a partnership with CashBet Coin, a token designed for iGaming. Such partnerships suggest that cryptocurrencies continue to gain support around the world.Trade crypto now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
GENERAL RISK WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.