NBA superstar LeBron James partners with Crypto.com to offer Web3 opportunities through his foundation

• NBA superstar LeBron James is getting into Web3 via his charitable foundation.
• James, in partnership with Crypto.com, is pushing for more opportunities focused on Web3.
• "I want to ensure that communities like the one I come from are not left behind," James said.

NBA superstar LeBron James is diving into Web3 via his charitable foundation.

The four-time champion has partnered with Crypto.com to push for more opportunities focused on Web3 by educating students and families connected to his nonprofit, the LeBron James Family Foundation.

"Blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another," James said in a statement. "I want to ensure that communities like the one I come from are not left behind."

Through his foundation's program called "I PROMISE," James said he plans to expose students to career paths "they may have never known existed," according to an announcement Friday.

Web3 is a catch-all phrase that proponents envision as the next-generation of the internet. In Web3, a decentralized online ecosystem that runs on the blockchain, there is no central authority, as opposed to the current Web2 iteration where most of the controlling stakeholders are the largest tech companies.

—Crypto.com (@cryptocom) January 28, 2022

Founded in 2016 and with over 10 million customers, Crypto.com has been aggressively promoting its brand as it competes with a growing number of new and established platforms.

In November 2020, the company bought the naming rights to the iconic Staples Center in LA, which will be the Crypto.com Arena for the next two decades.

Prior to that, the Singapore-based firm launched a marketing blitz starring Hollywood actor Matt Damon. It has also partnered with other high-profile brands such as Formula 1 and UFC to fast-track its brand recognition across the world.

Crypto.com has been making moves similar to FTX, which has also inked numerous deal across professional sports. The platform run by crypto billionaire Sam Bankman-Fried signed a $135 million deal for the naming rights to the Miami Heat's stadium in April, which is now called FTX Arena, and partnered with Major League Baseball in June.