Oregon’s Thibodeaux launches cryptocurrency
The coin, $JREAM, will be traded exclusively on Rally, a platform that gives creators a space to design their own digital economies.
"I feel like crypto is such a new space and having an athlete involved in it kind of changes the dynamic of how athletes are viewed," Thibodeaux said, according to ESPN’s Kyle Bonagura.
The initial price of Thibodeaux's coin is expected to be less than a dollar with roughly 100,000 in circulation upon launch. There’s a plan for 21 million coins to be entered into circulation, with the release schedule based on demand.
Thibodeaux's Jream Foundation - which was founded to help youth in disadvantaged circumstances - will receive 20% of the currency's initial release.
"Innovators like Kayvon are reinventing how athletes and fans interact," said Rally's vice president of partnerships Nick Millman.
The 2019 Pac-12 Defensive Freshman of the Year becomes the second collegiate athlete to create their own cryptocurrency following UCLA basketball player Jaylen Clark.
Cryptocurrency is Thibodeaux's latest NIL endeavor since the NCAA changed its stance on allowing student-athletes to profit off their name, image, and likeness while maintaining playing eligibility.
Thibodeaux announced an NFT deal in July, teaming up with Nike founder Phil Knight and designer Tinker Hatfield. The 2020 first-team All-Pac-12 defender has also made agreements with United Airlines, PlantFuel, and Starface.
The 2022 NFL Draft prospect is considered a game-time decision ahead of Oregon's Pac-12 opener against Arizona on Saturday after suffering an ankle injury during a season-opening win over Fresno State.