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Seven-time Super Bowl champion quarterback Tom Brady and his supermodel wife Gisele Bundchen have partnered with global crypto exchange FTX. FTX was founded in 2017 by Forbes 30 under 30 alum and crypto billionaire Sam Bankman-Fried, whose net worth is currently valued at $8.3 billion.
With this announcement, they instantly become two of the most prominent and recognizable representatives in the industry. As part of the deal, Brady will serve as an FTX ambassador and Bundchen will join the FTX team as an Environmental & Social Initiatives advisor.
“It’s an incredibly exciting time in the crypto-world and Sam (FTX founder Sam Bankman-Fried) and the revolutionary FTX team continue to open my eyes to the endless possibilities,” said Super Bowl Champion and entrepreneur-investor Tom Brady.”
The couple is taking an equity stake in FTX and is receiving crypto as a part of the deal. In addition, the pair has committed to providing annual multi-million dollar contributions to charity, which Bundchen will allocate in collaboration with FTX. She will also work with the team to reduce FTX’s carbon footprint and promote equity and diversity, according to the announcement.
This isn’t the first time celebrities and athletes have tried to capitalize on their personal brands through crypto partnerships, which has not always worked out well. In the heyday of initial coin offerings (ICOs) in 2017, highly recognizable public figures such as boxer Floyd Mayweather, and rapper DJ Khaled were involved in fraudulent ICO promotions. In 2018 they were charged by the SEC for failing to disclose payments that they received for promotion of the tokens.
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More recently, athletes have been getting involved with NFTs. Sports celebrities such as Brady’s Tampa Bay Buccaneers tight end Rob Gronkowski and former NFL MVP Kansas City Chiefs Quarterback Patrick Mahomes have launched their own NFT collections. Back in April Brady announced his intention to launch the NFT marketplace Autograph, which is still awaiting a full public rollout.
With this partnership, FTX is deepening its own football roster. The exchange acquired cryptocurrency portfolio tracking app Blockfolio in August for $150 million, and it subsequently brought on Jacksonville Jaguars quarterback and top pick in the April NFL draft Trevor Lawrence as a spokesperson.
