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Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. The tech industry has faced a wave of shutdowns and layoffs over the past three years, but there may finally be some hope on the horizon. Recently, there’s been an upward trend in companies announcing M&A activity and plans to go public. These announcements not only matter to those who work at or invest in these companies, but they also create opportunities for those looking to break into the tech world—whether as employees or founders. While these signals point to progress, we must not lose sight of the challenges the industry has faced over the past four years—challenges that make even the smallest signs of change feel significant. Following the COVID-19 pandemic, venture capital-backed startups experienced a surge in activity. Historically low interest rates made capital easy to borrow and invest, leading to increased funding for early-stage startups from venture capital firms. Crunchbase...
Jay-Z may no longer be in a New York state of mind. As AfroTech previously reported, the billionaire business mogul made a move to open a New York sportsbook in partnership with sports e-retailer Fanatics, making a bid with the New York State Gaming Commission back in August 2021. Now, according to 1010 WINS, the state’s gambling commission has approved nine mobile sports betting operators for the state, but neither Jay-Z-backed Fanatics nor Barstool Sports’ Penn Sports Interactive was recommended for a vote by the state. Thomas DiNapoli, the State’s comptroller, said that he estimates mobile sports gambling could bring in an excess of $500 million by 2025 to the state. But, it should be noted, the nine companies that were approved — including DraftKings, FanDuel, and BetMGM — have agreed to pay a tax rate of 51 percent to the state of New York to operate their companies in the state. So, perhaps this can be considered a “blessing in disguise” of sorts. Casinos and mobile companies...
Golf legend Tiger Woods is taking a swing at non-fungible tokens (NFTs) with the release of his first collection. According to USA Today, on Sept. 21 Woods released 10,000 NFTs through Autograph — a NFT platform co-founded by Super Bowl champion Tom Brady. “The intersection of sports and technology is such an interesting space to me, and I’m thrilled to partner with Autograph as they lead the charge by ushering a new era of digital collecting,” Woods said. “It’s been an honor to join their advisory board among so many iconic athletes, and I’m looking forward to bringing fans closer to my memorable sports moments at an accessible price, and to the game I respect so much.” Woods’ collection comprises of 10,000 digital images of himself, which is available for purchase and sold exclusively on DraftKings Marketplace, USA Today reports. USA Today also reports that Woods’ first batch of digital images range from $12 to $100. A $100 option is available for 375 limited editions. A special...
LeBron James may not be in this year’s NBA Finals, but he is still the talk of the town! The NBA superstar’s high school jersey is reportedly being estimated to be auctioned for up to $600,000. In an official press release shared with AfroTech , Julien’s Auctions announced that the Sports Legends auction for some of the world’s most sought-after sports treasures will take place on July 17 and July 18. Julien’s Auctions is the world-record-breaking auction house to the stars and the star-studded event includes some of the best of the best in the sports world. The event will feature items from Tom Brady, Zinedine Zidane, Ichiro Suzuki, Mike Trout, Roger Maris, and more. LeBron James’ St. Vincent — St. Mary’s high school basketball jersey which he wore on “The Chosen One” 2002 magazine cover for “Sports Illustrated” is estimated to sell between $400,000-$600,000. Colin Kaepernick’s game-worn and photo-matched No. 10 University of Nevada 2008 season football jersey are also among the...
Michael Jordan, together with his eponymous Jordan Brand, has announced a new set of financial initiatives for Black excellence. In a press release announcement, it was revealed that they’ve issued grants to three renowned institutions: Morehouse College, a popular Historically Black College and University; Smithsonian Institution’s National Museum of African American History and Culture; and Ida B. Wells Society for Investigative Reporting. Jordan will be donating $3 million to the Smithsonian over the course of three years. He will be donating $1 million over two years to Morehouse, and he will be donating $1 million over two years to the Ida B. Wells Society. “Education is crucial for understanding the Black experience today,” says Michael Jordan in the press release announcement. “We want to help people understand the truth of our past, and help tell the stories that will shape our future.” Legendary director Spike Lee, a 1979 graduate of Morehouse College, said that Michael...
We love to see it! Sports betting operator, DraftKings just announced the appointment of Valerie Mosley and Jocelyn Moore to its board of directors. According to a press release , the ladies will join NBA legend, Michael Jordan , who has just been named as the board’s Special Advisor. “I am very much looking forward to working closely with both Valerie and Jocelyn as we continue to grow DraftKings,” said Jason Robins, the company’s co-founder, chairman of the Board, and CEO in a press statement . “They each bring a unique skill set that will complement those of our existing members while simultaneously bringing new perspectives and ideas to the table.” Prior to joining DraftKings, Moore served as the executive vice president of Communications and Public Affairs for the National Football League and currently holds the seat as the Executive-In-Residence at The Gathering spot in Atlanta. “I am thrilled to serve on the DraftKings’ Board of Directors. With its innovative and engaging...