Football star Tom Brady is taking an equity stake in crypto exchange FTX

Football star Tom Brady is taking an equity stake in crypto exchange FTX

American football star Tom Brady has been appointed as a brand ambassador of crypto exchange FTX. As part of that deal, Brady will become a shareholder in the company.

Brady share's in FTX is unknown, but the exchange operator said he will receive his signing bonus in cryptocurrency — although it is unclear which one. FTX declined to comment to The Block to provide specific information when contacted.

Besides Brady, FTX has also partnered with the Brazilian model and activist Gisele Bündchen. She will also become an FTX shareholder, get a signing bonus in crypto and become FTX's environmental and social initiatives advisor.

As an ambassador, Brady will be responsible for introducing all FTX brands to a new audience through various initiatives, while Bündchen will focus on charitable aspects of the exchange operator. Last month, FTX committed to becoming carbon neutral through donations.

Both Brady and Bündchen have also opened their Blockfolio accounts to invest and trade in cryptocurrencies, said FTX, which acquired Blockfolio for $150 million last year.

FTX has been spending millions of dollars recently to reach non-crypto natives. Earlier this year, FTX struck a $135 million deal with the Miami Heat basketball team to rename the Heat's home stadium to "FTX Arena." In a similar deal this month, FTX spent $210 million to rename a professional e-sports team from TSM to TSM FTX.

As for Brady, the seven-time Super Bowl Champion has been more engaged in the crypto sector lately. He recently added laser eyes to his Twitter profile picture (although later admitting that might not have been a good idea). Brady is also set to launch an NFT platform called Autograph. The platform is expected to bring together some of the biggest brands and names in sports, entertainment, fashion, and pop culture to create non-fungible tokens.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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