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Recently, JD Motorsports driver of the No. 4 Chevrolet Landon Cassill received a next-generation sponsorship offer from Voyager Digital, a crypto-asset trading platform. The organization agreed not only to sponsor the car, but to pay Cassills the entire salary in cryptocurrency, opening up a new avenue for the payment method.
Sponsorship raises various questions. Will other companies, professional sports leagues and organizations follow suit and dip their toes into crypto? What challenges does this create in wage standardization and financial management? What regulations would need to be in place if more athletes and other employees took crypto as a salary?
To find answers, Voice of B2B Daniel Litwin invited Joey Ryan, CPA, to this episode of MarketScale TV. Ryan is the co-founder and CFO of Gilded, which produces an invoicing, payment and accounting software solution to integrate digital currencies into existing corporate financial ecosystems.
The two delved into leading successes in athlete crypto investing, such as NFL Russell Okung, and how they represent potential financial freedom that fiat currency may not offer.
They also explored where it might be most useful for companies to take crypto assets and investments in their operations and why, as well as whether it makes sense for other industries to view crypto wallets as a salary.
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