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Kayvon Thibodeaux launches his own cryptocurrency

Wade-Peeryby:Wade Peery•09/23/21
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(Photo by Cody Glenn/Icon Sportswire via Getty Images)

Oregon star edge rusher Kayvon Thibodeaux launched his own cryptocurrency on Thursday, the latest in a string of business opportunities he has pounced on since the NCAA ushered in the Name, Image and Likeness era this summer.

The coin is named $JREAM and will be traded exclusively on Rally, which is described as a platform for creators who want to build their own digital economies. Fans of Thibodeaux who purchase $JREAM will have access to a private Discord channel and exclusive merchandise from The Players Trunk. The Players Trunk is an online marketplace that resells worn college apparel.

Thibodeaux spoke to CoinDesk about why he’s so excited about the launch of his own cryptocurrency. He is most excited about the community aspect and says the venture is “more of an investment in my fans and our community rather than just putting money into cryptocurrency.”

There will be a charitable aspect to the cryptocurrency as well. He has pledged 20% of the initial token supply and 100% of the weekly activity rewards to the JREAM Foundation.

Thibodeaux is at least the second college athlete to launch their own cryptocurrency since the new name, image and likeness, rules were implemented.

There will be less than 100,000 coins in circulation initially, though up to 21 million coins can be released in the future depending on demand.

The price of the coin opened up at nearly 26 cents and climbed to about 33 cents on Thursday afternoon.

“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, via ESPN. “I started looking at crypto in high school and seeing the future in crypto and how far it can go — this was the next step in starting my future.”

Thibodeaux is a top NFL Draft prospect

Thibodeaux is expected by many people to be one of the top draft picks selected in the 2022 NFL Draft. He’s racked up 13 sacks and 24 tackles for loss so far in his Oregon career, including a bone-crushing hit on Fresno State quarterback Jake Haener.

He’s dealt with an injury in the early part of the 2021 campaign. He sprained his ankle against Fresno State and sat out the games against Stony Brook and Ohio State.

Oregon will play against Arizona on Saturday.