In the world of the Women’s National Basketball Association (WNBA), Jewell Loyd stands out as a scoring powerhouse. Her remarkable achievement of scoring 939 points for the Seattle Storm in the past year not only showcased her on-court prowess but also set a new single-season scoring record for the league. This accomplishment surpassed the previous record held by Diana Taurasi, who scored 860 points in 2006.
Loyd joins the ranks of crypto-savvy athletes in the WNBA
Aside from her exploits on the basketball court, Loyd has become a notable figure among crypto-savvy athlete investors for Coinbase. The exchange is also the exclusive cryptocurrency partner of the NBA and WNBA since 2021. Loyd, a 30-year-old native of Chicagoland, entered the crypto space in 2013, purchasing her first Bitcoin while playing college basketball at Notre Dame. The crypto journey was a family affair, with her brother, former pro basketball player Jarryd Loyd, joining her in exploring the crypto market. Their upbringing, shaped by parents who emphasized financial literacy, played a crucial role in their venture into cryptocurrency.
Taking a pioneering stance, Loyd publicly announced her investment in crypto and her decision to allocate a portion of her salary to it. This move drew curiosity from teammates and opponents alike, providing Loyd with an opportunity to educate others about the crypto space. She looks at this as a reversal of roles, having been the one asking questions rather than the one answering them. Coinbase, in collaboration with the WNBA, has been actively involved in creating crypto educational content.
Loyd has played a crucial role in this educational initiative, participating in a crypto crash course introduced to rookies at the 2022 Draft. Loyd changes some part of her WNBA salary into crypto through the Coinbase exchange, with BTC and ETH forming the majority of her holdings. In Loyd’s crypto portfolio, Bitcoin and Ethereum serve as the anchors, akin to reliable centers in basketball. Drawing parallels between her sport and her investments, she recognizes the importance of having foundational assets.
Jewell Loyd and her impact on the WNBA
After securing her fifth All-Star team selection in the past season, Loyd extended her contract with the Storm, signing a two-year, $463,000 deal. Despite the WNBA’s salaries being notably lower than their male NBA counterparts, Loyd has found utility in cryptocurrency, especially during offseasons when many WNBA players opt to play overseas for additional income. The decentralized nature of crypto proves advantageous for Loyd, facilitating financial transactions across countries like Turkey, China, South Korea, and Spain.
The partnership between Coinbase and the WNBA has not only been financially beneficial but also instrumental in fostering financial empowerment for women. Loyd expresses her appreciation for the collaboration, emphasizing the efficiency and cost-effectiveness of using crypto for international transactions, a common challenge for athletes playing overseas. Coinbase’s involvement with the WNBA goes beyond individual partnerships.
The cryptocurrency platform distributed $120,000 in Bitcoin to players on the New York Liberty and Las Vegas Aces as part of its sponsorship of the WNBA Commissioner’s Cup midseason tournament in August. Additionally, the league offered NFTs (Non-Fungible Tokens) to fans through Coinbase, providing digital collectibles such as a commemorative NFT for Loyd’s Storm teammate Sue Bird during Bird’s jersey retirement ceremony in June. Loyd’s involvement with crypto extends beyond personal gain.
She highlights how crypto has been a significant aid in her efforts to support Rwanda, where she and her brother contribute computers and funds to assist the local community. The speed and efficiency of crypto transactions have proven invaluable. As Loyd continues to make an impact both on and off the basketball court, her advocacy for crypto and its practical applications underscores the broader influence that athletes can have in promoting financial literacy and driving positive change within communities.
