Tennis superstar Naomi Osaka is the latest ambassador to join crypto exchange FTX. The 24 year old grand slam champion joins the likes of Tom Brady and Gisele Bundchen to represent FTX, with the partnership aimed at attracting a younger female audience.
The long-term deal between Osaka and FTX seeks to “democratize the space”, bringing attention to the current disparity between men and women who participate in the crypto space. As part of the deal, Osaka will receive an equity stake in FTX, and alongside compensation in crypto, her charitable organization Play Academy will receive an undisclosed donation.
The addition of a sports personality to the crypto exchange, particularly a young, female athlete, will enable FTX to better represent their current user base, as well as attract women on to the platform.
Osaka spoke about the current representation of women in crypto, noting via press release:
“We have seen the statistics about how few women are part of crypto by comparison, which kind of mirrors the inequality we see in other financial markets.Cryptocurrencies started with the goal of being accessible to everyone and breaking down barriers to entry. I’m excited to partner with FTX to get back to that mission and to innovate on new ways to reach more people and further democratize the space.”
Sam Bankman-Fried, CEO of FTX, further noted:
“Just as FTX is at the forefront of crypto markets, we want to be at the forefront of social change. Our partnership with Naomi Osaka will further our goal of getting more diverse voices involved in the future of digital currency and Web3. I am excited to work with Naomi as we look to educate those groups and create a positive impact in the world.”
Celebrity ambassadors have grown in number as the crypto industry continues to grow and seek further support from all demographics. Celebrity and influencer endorsements carry enormous weight, bringing crypto firms and projects to their large audiences. However, celebrity promotion of cryptocurrencies has been criticised as a number of high-profile figures have used their platforms to promote scams. Equally, celebrity endorsements such as the one between Naomi Osaka and FTX can encourage a specific demographic to participate in the space, and bring greater diversity to the industry.
Disclaimer: 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.
