Jaylen Clark, a UCLA basketball reserve, will be the first collegiate athlete to have his own cryptocurrency, he announced on his YouTube page Thursday.
Clark, who averaged 2.5 points per game last season for a UCLA squad that lost to Gonzaga in the Final Four, said he worked with Rally, a personal cryptocurrency company, to create $JROCK. He said he'll market $JROCK to his more than 22,000 YouTube subscribers and 59,000 Instagram followers.
"I already trade all the time," he told ESPN. "I'm active on my Robinhood account."
Added Clark: "I feel like it's a great way to educate people on crypto and how it works."
He said he'll use his own crypto to build his connection to his fans through various events, such as ticket giveaways. Those who use $JROCK will also have access to unique content through his platforms.
Cryptocurrency is a digital currency. Clark said he was already actively involved in cryptocurrency before meeting with the officials at Rally.
"The NCAA's policy change is allowing young, talented athletes to embrace the creator economy in ways which were previously not possible," said Nick Millman, vice president of partnerships at Rally in a statement. "We are excited to have Jaylen at the forefront of this new economy and are looking forward to helping other athletes unlock new ways to share value with their fans."
Months after name, image and likeness rules changed for collegiate athletes, Clark said he doesn't believe most athletes will benefit. But those who have a strong social media following, he said, will thrive. He said he already is generating significant revenue through his YouTube page after "being able to monetize your fan base."
He is represented by ACIB Management, a group co-founded by Andre Chevalier II and Ian Brown.
Brown said Clark's venture with cryptocurrency could set the blueprint for other collegiate athletes to follow.
"We see crypto as an incredible vehicle for NIL because it really gives the power to the player in a way that other deals don't," he said.
UCLA basketball sub Jaylen Clark to have his own cryptocurrency