The former NFL stars are investing in Blok Sports, a new crypto-backed sportsbook.
Blockchain-based sportsbook Blok Sports just added two big NFL names to its ranks. Hall of Fame wide receiver Andre Reed and legendary running back Marshawn Lynch have joined the brand as investors and board advisors.
The two retired stars add big momentum to Blok Sports‘ effort to tap into the growing market for not just sports betting, but sports betting technology. Blok uses the innovative approach of decentralized finance betting (DFB), which allows fans to wager via a blockchain-based exchange.
“I can’t tell you how honored and excited we are to have these two luminaries join our team,” Blok Sports CEO and Founder Mitchell Chun said. “It was important to me that we involve talent that models the highest degree of integrity and core values to be representatives of our company.”
Blok Sports also plans to dive into the red-hot NFT market by offering non-fungible tokens as rewards based on a bettor’s level of activity.
Plenty of online sportsbooks accept cryptocurrency as a method of deposit, often giving a bonus to those who use bitcoin or similar currencies because of the quick processing and layers of security they offer.
Blok Sports is still in its early stages, but with their latest big-name backers and rapid growth and normalization of blockchain technology, the peer-to-peer sportsbook figures to be one to follow in the months to come.