Posted November 10, 2021

Kentucky basketball is stepping into the world of cryptocurrency and nonfungible tokens, a digital step the team is taking together thanks to name, image, and likeness (NIL).

Wednesday morning, Kentucky players announced a partnership with West Realm Shire Services Inc. to be ambassadors of FTX US, a US-regulated cryptocurrency exchange. The individual deals will allow each player to be compensated monthly on FTX debit cards and create nonfungible tokens (NFTs) on the FTX NFT marketplace.

It’s an agreement that will allow Kentucky players to transition with the rest of the world as digital assets grow in popularity and value.

“We partnered with cryptocurrency, and it’s a great opportunity,” Kentucky guard Davion Mintz told KSR on Wednesday. “The world is evolving and everything is going electronically. It was very timely for us to become more educated as we translate with the new world.”

The NIL agreement came together as a package deal with the players. Each member of the team received individual deals, but the decision to partner with FTX came as a group.