LeBron James collaborates with Crypto.com for Web3 initiative

Loa Angeles Lakers icon LeBron James has signed a multi-year partnership with and cryptocurrency platform Crypto.com focusing on the decentralized Web3.

The tie-up with the NBA star aims to give access to students and families connected to the LeBron James Family Foundation’s ‘I Promise’ to the tools and educational resources needed to succeed in Web3 initiatives.

Web3, billed by Crypto.com as the ‘future of the internet, is based on blockchain certification, incorporating concepts such as decentralization and token-based economics.

The concept intends to help make the internet more ‘fair and equitable,’ owned by builders, creators, and users.

Crypto.com has a naming rights deal for the Lakers’ home arena, previously called Staples Center.

The 20-year pact reportedly worth US$700 million changed the venue’s name to Crypto.com Arena at the end of 2021.

According to James, as blockchain technology revolutionizes the economy, sports and entertainment, the art world, and people engage with one another, he wants to ensure that communities like the one he came from are not left behind.