Episode 23: Athlete Tokenization: The Future of Wealth in Sports

Revolutionizing Sports Wealth: Athlete Tokenization's Bright Future In this episode of Old Men New Money, Phil Larmon explores the concept of athlete tokenization as a solution to the financial and identity crises that athletes often face. He differentiates between economically sound tokenization and the hype around NFTs and digital collectibles. He critiques the early attempt by Fantex and explains why it failed due to the absence of supportive laws, technology, and cultural acceptance at the time. Larmon then discusses the modern landscape where high school and college athletes can monetize legally, paving the way for sustainable tokenization. He emphasizes the need for an aligned ecosystem involving agents, managers, and professional associations to ensure these investments are ethical and beneficial for athletes. The episode also explores the potential long-term benefits of tokenization, including post-career earnings and stronger fan engagement, ultimately providing athletes with financial and identity stability throughout and after their careers. 00:00 Introduction to Athlete Tokenization 00:39 The Structural Problems in Sports 02:09 The Fantex Experiment 05:26 The Modern Landscape of Athlete Tokenization 06:12 Case Studies: Potential and Real Examples 13:35 The Role of Agents and Managers 15:32 Post-Career Monetization 18:46 The Four Conditions for Successful Tokenization 20:42 Conclusion and Future Insights Get full access to Bitcoin, Blockchain and Tokenization at oldmennewmoney.substack.com/subscribe