For decades, Black people have been a force in the sports industry, yet when it comes to making a profit from the game, the coins are far and few unless we’re athletes. And, Kai Bond says it’s time we change that.
Bond — a partner at Courtside VC, a company that focuses on sports, gaming, and fitness verticals — says the time is now when it comes to sports innovation that can lead to something huge for the culture.
“Sports used to be a game, and now it’s culture,” said Bond during the latest Black Tech Green Money episode with host Will Lucas. “When you think about the power of sports in society, it’s one of the things that can bring us together; it’s one of the things that divide us. Sports figures, athletes, you see it today in social media, their influence is outsized, and you know the ‘shut up and dribble’ conversations that have happened. We’re talking about individuals who are transforming society at a faster pace; I would argue than politicians because they’re at the forefront of the discussion every day.”
He further shares that it is this very reasoning that sports and investments go hand in hand and can be used to truly shift the culture.
“You cannot invest in sports and be blind to the fact that we are talking about cultural movements that are happening within this space,” Bond continued.
Not only does Bond see a huge opportunity for the culture when it comes to sports, but he also explains that the same is true for the gaming industry. For example, he explains how games like AXIE INFINITY are providing a whole new landscape to the way that people play games.
“AXIE INFINITY is a game where you can play to earn real money in the game,” said Bond. “They’re creating a massive economy [and] this economy will be larger than some countries. Some people are quitting their jobs just to play this game all day.”
For Bond, this is a huge step toward transforming society and the ways we think about earning money.
“I think the way that we view gaming is transformative,” he continued. “It’s already happening with Fortnite because this is how kids growing up today are having some of their first social experiences. That’s how they’re meeting people. This is their social network.”