Bitcoin Financial Services Company Swan Hires Former NBA Champion Matthew Dellavedova
Bitcoin financial services company Swan has appointed former NBA champion Matthew “Delly” Dellavedova as its vice president of business development. The move aims to leverage Dellavedova’s successful sporting career to bridge the gap between the crypto and sports industries.
Dellavedova’s role will initially be part-time due to his current contract with Melbourne United, but he plans to utilize his connections with Australian firms. He specifically mentioned working with Australian super funds, aiming to persuade these large money managers to allocate a portion of their assets to Bitcoin.
Tapping into the Australian Superannuation Funds
The term “super” refers to Australian superannuation funds, which are retirement savings systems that workers contribute to, similar to the U.S.’ 401K. These funds collectively manage approximately $2.1 trillion as of 2022. Swan and Dellavedova hope to tap into this significant pool of assets.
Harnessing the Name, Image and Likeness Rule in College Sports
In addition to his work with Australian super funds, Dellavedova plans to leverage the new Name, Image and Likeness (NIL) rule in college sports. This rule allows university athletes, within certain restrictions, to endorse companies and receive compensation for doing so.
Dellavedova sees this as an opportunity to introduce Bitcoin to college athletes, their money managers, and the colleges themselves. He aims to generate interest in Bitcoin among these individuals by strategically promoting its benefits.
Bridging the Gap Between Bitcoin and Sports
When asked about Bitcoin’s presence in locker rooms, Dellavedova estimated that around 20% of players hold Bitcoin or other cryptocurrencies. However, he noted that many players have less than 1% of their portfolio invested in crypto.
Swan’s History of Sports Partnerships
This hiring is not Swan’s first venture into the sports world. The company previously partnered with Amateur Athletic Union (AAU) team Compton Magic to establish the first Bitcoin Basketball program in March of this year.
Dellavedova’s Involvement in the Bitcoin Space
Dellavedova shared some anecdotes about his experiences with Bitcoin. He attended last year’s Pacific Bitcoin conference organized by Swan while playing for the Sacramento Kings. This event allowed him to connect with real Bitcoin enthusiasts, fostering relationships with Swan’s top executives who later offered him the VP role.
Furthermore, Dellavedova has invested in various other Bitcoin startups, including Stakwork, Strike, OpenNode, Bitcoin mining companies, Fold, and the Orange Pill app. He also mentioned using the Orange Pill app to reach out to Bitcoiners for tickets when he was in a city without friends or family during basketball games.
Hot Take: Matthew Dellavedova Joins Swan to Drive Adoption of Bitcoin in Sports
Matthew “Delly” Dellavedova’s appointment as Vice President of Business Development at Swan signifies a strategic move to accelerate the adoption of Bitcoin within the sports industry. Leveraging his successful NBA career and connections, Dellavedova aims to bridge the gap between crypto and sports by targeting Australian super funds and college athletes. Through partnerships and endorsements, he intends to generate interest in Bitcoin among athletes, money managers, and colleges. With Swan’s previous collaborations with sports organizations, Dellavedova’s hiring strengthens their position as a key player in merging cryptocurrency and athletics.
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