Swan, a prominent Bitcoin financial services company, is making a strategic move by hiring former NBA champion Matthew “Delly” Dellavedova as its vice president of business development, aiming to bridge the gap between the crypto and sports industries. Dellavedova’s successful sporting career and access to Australian firms make him an ideal addition to the Swan team.
Initially, Dellavedova’s new role will be part-time since he is currently under contract to play with Melbourne United. However, he plans to leverage his connections with Australian super funds, aiming to convince these major money managers to allocate a percentage of their assets to Bitcoin. The Australian superannuation funds collectively manage approximately $2.1 trillion, presenting a significant opportunity for Swan and Dellavedova.
In addition, Dellavedova intends to make use of the new Name, Image, and Likeness (NIL) rule implemented in college sports. This rule allows university athletes, with some restrictions, to endorse companies and receive compensation for their endorsements. Dellavedova sees this as a great opportunity to introduce Bitcoin to college athletes, their money managers, and the colleges themselves, hoping to generate interest and adoption.
When asked about the prevalence of Bitcoin ownership among NBA players, Dellavedova estimated that around 20% hold Bitcoin or other cryptocurrencies. However, he noted that some players have less than 1% of their portfolio invested in Bitcoin, indicating room for more widespread adoption.
This isn’t Swan’s first venture into the world of sports. Earlier this year, the company partnered with the Amateur Athletic Union (AAU) team Compton Magic to create the first Bitcoin Basketball program. This collaboration demonstrates Swan’s commitment to bridging the gap between crypto and sports.
Dellavedova also shared some intriguing stories about his experiences with the Bitcoin space. Last year, while playing for the Sacramento Kings, he messaged Bitcoiners expressing his interest in attending the Pacific Bitcoin conference organized by Swan. This encounter allowed him to connect with Swan’s top executives, who later offered him the VP role. Dellavedova has also invested in several other Bitcoin startups, such as Stakwork, Strike, OpenNode, Bitcoin mining companies, Fold, and Orange Pill app.
The Orange Pill app, in particular, has facilitated connections between Bitcoin enthusiasts and basketball fans. Dellavedova would reach out to users on the app when he had spare tickets for games in cities where he didn’t have friends or family. While this approach led to some memorable experiences, he admitted that some people were skeptical, assuming he was scamming them.
Swan’s decision to bring on Dellavedova reflects the growing intersection between Bitcoin and sports. As the cryptocurrency industry seeks to expand its reach and adoption, leveraging the influence and connections of high-profile athletes like Dellavedova can be a powerful strategy. With his expertise, network, and passion for Bitcoin, Dellavedova is well-positioned to help Swan tap into the Australian market and bring Bitcoin to the forefront of the sports industry.
