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Russell Okung Creates Flag Football League with Bitcoin-Only Player Payments

4 hours ago
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TLDR

  • Ex-NFL player Russell Okung launches Bitball, a flag football league where players are paid in Bitcoin
  • First game scheduled for December 10 in Abu Dhabi with 24 professional players
  • Okung’s 2020 Bitcoin salary conversion (240 BTC) now worth approximately $21 million
  • Bitcoin recently hit new all-time high of $93,477 following Trump’s election
  • Okung has never sold his Bitcoin and continues to accumulate more

Russell Okung, former Carolina Panthers offensive tackle, has announced the creation of Bitball, a new professional flag football league that will pay its athletes exclusively in Bitcoin.

The league is set to debut on December 10 at Al Nahyan Stadium in Abu Dhabi, featuring 24 professional football players.

Okung made the announcement on X (formerly Twitter) on Thursday, outlining his vision for a sports league that eliminates traditional financial intermediaries.

The league aims to provide players with direct Bitcoin payments, removing what Okung refers to as “middlemen taking their cuts or making backdoor deals.”

The concept for Bitball emerged after Okung’s departure from the NFL, where he had unsuccessfully attempted to convince league owners about Bitcoin’s potential.

His personal experience with cryptocurrency dates back to December 2020, when he made headlines by converting half of his $13 million NFL salary into Bitcoin.

That decision has proved profitable. The approximately 240 Bitcoin Okung received, worth $6.5 million at the time, would now be valued at around $21 million. In a recent interview with Decrypt, Okung confirmed that he has maintained his entire Bitcoin position and continues to acquire more of the cryptocurrency.

The inaugural Bitball game will be accessible to Bitcoin conference ticket holders at no additional cost. Okung has already begun recruiting players, primarily reaching out to former NFL colleagues who have shown interest in the project.

The league’s structure represents a departure from traditional sports business models. Okung envisions Bitball as a platform where players can build lasting wealth through Bitcoin compensation, addressing what he sees as a common problem in professional sports where athletes often struggle with financial stability after their careers end.

Beyond player payments, Okung’s vision extends to fan participation. The league plans to offer opportunities for fans to own actual stakes in the organization, although specific details about this aspect have not yet been released.

The timing of Bitball’s announcement coincides with recent developments in the cryptocurrency market. Bitcoin has experienced several price milestones, reaching a new all-time high of $93,477 on Wednesday, following Donald Trump’s recent election victory.

Okung has also ventured into Bitcoin mining, expressing interest in both land and energy assets. He views these investments as fundamental components of what he terms “civilization-building,” suggesting that sustainable businesses can be built to meet various needs, regardless of whether they operate in traditional currency or cryptocurrency.

When discussing Bitcoin’s price volatility, Okung maintains a long-term perspective. He notes that his initial investment decision was based on studying market cycles and observing Bitcoin’s general upward trend over four-year periods.

The former NFL player’s confidence in Bitcoin remained steady even through market turbulence, including the FTX exchange collapse. His conviction stems from his assessment of Bitcoin’s global perceived value and its unlikely probability of reaching zero.

The league’s development comes at a time of increasing intersection between sports and cryptocurrency. While Bitball is starting with flag football, Okung sees potential for Bitcoin payment adoption in other sports leagues, including baseball and basketball.

Player recruitment for Bitball is currently underway, with Okung reporting positive responses from potential participants. The league’s immediate focus remains on successfully launching its flag football operations before considering expansion into other sports.

Bitcoin conference ticket holders interested in attending the inaugural game in Abu Dhabi can access the event for free, marking the first step in what Okung hopes will be a new era in professional sports compensation.

Source: https://blockonomi.com/russell-okung-creates-flag-football-league-with-bitcoin-only-player-payments/