Governments are still trying to figure out what to do with cryptocurrencies. The digital assets have come under a lot of scrutiny recently as government and financial institutions have looked at new ways to regulate the cryptos or ban them from use. Nevertheless, this new change of heart has not dwindled interest in cryptocurrency. Right off the start of the 2018 Winter Olympics and amid the cryptocurrency hype, it has been announced that a Canadian athlete will be paid in cryptocurrencies.
Double world record holder Canadian speed skater Ted-Jan Bloemen has signed a one-year sponsorship deal with the cryptocurrency social network onG.social as part of a bigger deal that involves virtual reality developer CEEK VR.
I’m very excited to be the first ever #Crypto Sponsored Athlete. Thanks @CEEK #VirtualReality and @Ong_Social for being at the forefront of technology and this great achievement. Looking forward to a great relationship and the exciting times ahead. pic.twitter.com/mCHbNzkKW8— Ted-Jan Bloemen (@TedJan) January 31, 2018
Traditionally, the super athletes of the Olympics are paid rather large sums of money for their performance at the Olympics which also usually includes a massive brand sponsorship deal. Bloemen's cryptocurrency deal is the first of its kind.
He explained the full detail his deal clarifying that he was also paid in cash by stating, "For me, the real risk of not getting anything is not there, because I got a little (cash) out of it already. And that combination makes this sponsorship really fun, right. Because we’re going to help each other. I’m trying to get them a little more exposure to make them succeed, and that would help all of us, right."
In exchange for sharing his journey to and throughout the Winter Olympics, on onG.social's network via a 360-degree virtual reality experience with CEEK VR.
The partnership falls perfectly inline with CEEK VR's focus to bring sports-focused virtual experiences to consumers around the world. Based off the most recent information available on CoinMarketCap, onG.social (ONG) has a little over $6 Million market cap.
For the uninitiated, Ted-Jan Bloemen is an elite Dutch-born speed skater competing for Canada. Winning four medals during the last World Championships, Ted-Jan hopes to continue to build on his success at this year's Olympics.
Would you get paid in cryptocurrencies?