Years ago, Michael “Air” Jordan turned down a deal that would have earned him $100 million in a new crypto currency. This little secret was now revealed by Jordan’s agent. Perhaps the superstar of basketball showed good intuition in his refusal.
While the big leagues of professional sports worldwide are taking a break in the corona crisis, sports fans like to console themselves with documentary films. Netflix is currently celebrating success with the series “The Last Dance”, which highlights the active end of the career of Michael “Air” Jordan, probably the best basketball player of all time. It’s hardly surprising that Jordan’s environment is now also in the spotlight again. David Falk, Jordan’s former agent, now tells an episode from the time when the first crypto boom broke out between 2016 and 2018 and million-dollar ICOs were the order of the day. According to the news channel CNN, David Falk revealed that Jordan was offered a fabulous 100 million US dollars if he would be available as an advertising figure for just two hours at an ICO. “God bless him. (…) He is very, very choosy about the things he wants to be involved in,” said Falk, summing up what at first glance seems to be a surprising refusal to accept Jordan’s offer of supposedly easy money.
However, Agent Falk did not tell Agent Falk which new crypto-currency “Air” Jordan’s favour he wanted to buy at great cost. There is speculation about two of the most famous scams that fit into the period, Bitconnect (BCC) and OneCoin. Behind these coins, which were brought onto the market with large-scale campaigns, there were in reality fraudulent pyramid schemes and investors experienced total losses. Jordan would probably have been paid in coins and lost its largely clean image. But the story once again sheds light on the sums spent in the crypto industry, apparently without flinching, and the practices that occur. We recall, for example, the domain purchase of “Voice.com” by EOS for 30 million US dollars, the rogue play of KaratGold Coin or the strange business practices of Savedroid.
Basketball and Crypto Industry
Even though Michael Jordan (estimated assets 2.1 billion US dollars) has avoided being directly associated with the crypto industry. The NBA, as a US professional league with worldwide appeal, sees opportunities and wants to release a crypto-game based on the model of CryptoKitties. Player Spencer Dinwiddie, who wanted to map his million-dollar contract into tokens so that investors could participate in his success, also made headlines. The NBA banned this request. And who knows whether sports stars from football, tennis or Formula 1, for example, might not be willing to advertise crypto projects for a fee in the future. But the example of “Air” Jordan teaches us that you as an investor should not blindly follow possible recommendations from sports role models, even if they sound very tempting.
Best place to buy Bitcoin: