Dwyane Wade likes to take risks when it comes to trading.
Three times the NBA champion in media companies as well as consumer products. Wade, 40, owns two sports teams and hosts TV shows. Wade also takes opportunities in the risky NFT industry.
“I’ve always taken risks,” Wade told CNBC in an interview. “I’ve always been a guy who has done things a little differently than everyone else.
Wade is collaborating with Budweiser Zero on an NFT collection that will be launched on May 24th. Wade introduced the non-alcoholic and sugar-free beverage in 2020. NFTs will cost $ 180 each and will give buyers the chance to win prizes such as Wade’s signed sneakers and a trip to a Utah Jazz game with him. Wade has a small stake in the NBA.
“This is an opportunity to be part of a young brand that is trying to build a fan base and provide a great experience,” he said, calling the NFT Museum another opportunity for fans “to do something unique and something cool.
Nevertheless, the NFT library is being launched at a time when digital assets are declining. Daily sales of NFT have fallen by more than 90% since September 2021, according to The Wall Street Journal. It also takes place in the midst of the sale of cryptocurrencies, including bitcoin.
Wade makes an important business decision
Wade, who quit basketball in 2019, earned nearly $ 200 million throughout his 16-year NBA career, according to Spotrac, a sports-related website. According to Forbes, he receives $ 17 million in grants each year.
Asked to retire, Wade said: “It’s different. Wade added that through the pandemic, he has learned how to apply “the same qualities that made me a great player” after his career.
He set the tone for the years after retirement with a decisive business choice made at the height of his career.
Wade began his career as a rookie at the Converse shoe brand in 2003. He joined the Nike brand Michael Jordan in 2009, where he worked with NBA stars Carmelo Anthony and Chris Paul, among others.
Li-Ning, a Chinese sporting goods manufacturer, then approached Wade in 2012 to start his own school. They offered him a stake in the company. Wade took the risk and went from Jordan to Li-Ning, describing the deal as “his most important business deal”.
“Thank you for submitting the drawing,” Wade told Jordan. “I’m going to try to make my own version of it.
Jordan, according to Wade, told him he “understood and respected” the decision.
In 2018, Wade signed a lifetime contract with Li-Ning for an unknown price. Younger NBA stars, such as New Orleans Pelicans CJ McCollum and Miami Heat Jimmy Butler, have joined him on the brand. D’Angelo Russell, a player for the Minnesota Timberwolves, has also joined the sneaker company.
“It can be built,” Wade said. “Athletes are taking risks by doing something a little different.
“I’m not trying to recreate anything,” Wade explained. “I’m trying to have sneakers and clothing companies that players have been in for many years. I want to build something that is a legacy for my family. “
Keeping the power going
When Wade retired, he continued to grow his business. Wade founded the winery “Wade Cellars”. He owns a stake in the Players TV media organization. He co-founded the children’s product company Proudly with his wife, actress Gabrielle Union. According to him, a start-up company was founded out of necessity.
“We have a three-year-old daughter and go to 80 different stores to get products. We said, “This does not work for us. How can we build what works for us – minorities in our world and communities? ‘”
In April, it proudly introduced its product line, which consisted of baby wash and lotion. The company will eventually offer diapers.
Wade also bought a small stake in the Utah Jazz in the NBA in April 2021 and joined Blackstone CEO David Blitzer as a co-owner of MLS Real Salt Lake. Wade declined to say how much his share was worth, although he did indicate that it was a small amount.
Wade said it was his “ultimate goal” to have a controlling stake in the company. In this case, however, his willingness to take risks may be limited.
“But maybe I’m going to go through this process and say to myself, ‘No, you do not want this headache,'” he said.
Mail Bonus – #NBA #legend #Dwyane #Wade #investing #NFT