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Oregon star Kayvon Thibodeaux is getting into the cryptocurrency world.
The Ducks defensive end officially launched his own cryptocurrency, the $JREAM coin, on Thursday.
The coin will be traded exclusively on Rally. There will be less than about 100,000 coins in circulation initially, though up to 21 million coins can be released in the future depending on demand.
The coin opened at nearly 26 cents, and had climbed to about 33 cents by 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.”
The coin, he said on Twitter, isn’t meant to be an investment in the way that Bitcoin, Dogecoin or Ethereum are, for example. Instead, he is using it as an avenue to connect with his fans — who will get access to exclusive merchandise, a private Discord group and more.
The coin will also benefit the Jream Foundation, which he launched to help disadvantaged youth. About 20% of the initial release, per ESPN, will go to the foundation.
Thibodeaux is at least the second college athlete to launch a cryptocurrency since the NCAA’s new name, image and likeness rules were implemented. UCLA basketball guard Jaylen Clark released his coin, $JROCK, earlier this month on Rally. The coin, which launched at about 63 cents, was trading at about 43 cents on Thursday.
Thibodeaux played in just 19 snaps in the Ducks’ season-opener against Fresno State before he suffered an ankle injury. He hasn’t played since for No. 3 Oregon, and his status is unknown for Saturday’s game against Arizona. Thibodeaux, who many think could be the No. 1 overall pick in the 2022 NFL draft, had 42 total tackles and three sacks last season for Oregon while earning first-team All-Pac-12 honors.
