When it comes to the adoption of cryptocurrencies and blockchain technology, the industry has managed to reach out to almost every mainstream sector. Among the rest of the sectors that have adopted cryptocurrencies, sports is the one taking things quite seriously.
In the sports sector, it is the football and basketball industry that is adopting cryptocurrencies at a really large scale. So far, several basketball stars have invested heavily in cryptocurrencies, be it be in the form of Bitcoin, altcoins, or NFTs.
This time, it is Kevin Durant, who is determined to make it big in the cryptocurrency industry. Kevin Durant is one of the biggest NBA stars, who is known for being a two-time champion at the National Basketball Association (NBA).
Just recently, Kevin Durant has made it to the headlines in all spaces for his recent endeavor into the cryptocurrency industry. According to reports, Kevin Durant has revealed that he has recently launched a SPAC – Special Purpose Acquisition Company.
According to him, the purpose behind the launch of a new SPAC is to focus on collaborating with businesses that are technology-driven. He revealed that they also include the cryptocurrency enterprises and firms within the circle of businesses they aim to provide their services.
It has been revealed that the new company has been formed in conjunction with Rich Kleiman, a business associate of Kevin Durant.
This is not the first time Kevin Durant has ventured into the cryptocurrency industry. Kevin Durant is one of the sports stars who supported cryptocurrencies even in their early stages. Kevin Durant was also a pro when it came to supporting Coinbase when the exchange had started operating back in 2013.
By launching a new SPAC, Durant has shown that he is still not done with exploring the cryptocurrency industry. He is aiming to gain more exposure in the cryptocurrency industry and he is not settling down with just some small exposure in the crypto-verse.
With the launch of the SPAC, Durant will be venturing more into the cryptocurrency and blockchain industry. He will be gaining more exposure within the crypto-verse and benefit more from the crypto-blockchain sector.
The SPAC will also be making investments in the cryptocurrency and blockchain sector providing more backup to the sector. This way, more technological advancements, and innovations will be introduced within the cryptocurrency sector.
It has been confirmed that the name of the new SPAC is going to be Infinite Acquisition Corp. It was reportedly formed and launched back on Wednesday, November 3, 2021. The Infinite Acquisition Corp has already filed a request at the US Securities and Exchange Commission (SEC) for the approval of going public.
In the filing, Durant’s SPAC has revealed that in the initial public offering (IPO), they are aiming to raise proceeds worth $200 million.