When it comes to business, Dwyane Wade enjoys taking chances.
The three-time NBA champion has assets in media companies as well as consumer goods. Wade, 40, owns stock in two sports franchises and hosts a television show. Wade is also taking a risk in the very unpredictable NFT sector.
Wade told CNBC in an interview, “I’ve always taken chances.” “I’ve always been a man who does things differently than everyone else.”
Wade is working on an NFT collection’s with Budweiser Zero, which will be released on May 24. In the year 2020, Wade co-founded the alcohol- and sugar-free beverage. The NFTs will retail for $180 each and include chances to win prizes such as autographed Wade sneakers and tickets to a Utah Jazz game.
“This is a chance to be a part of a fledgling company that is striving to grow a fan base and deliver fantastic experiences,” he said, adding that the NFT collection is another way for fans to “do something unique and creative.”
Despite this, the NFT collection is being released at a time when digital assets are in decline. According to The Wall Street Journal, daily sales of NFTs have dropped by more than 90% since September 2021. It also comes amid a cryptocurrency sell-off, including bitcoin.
Dwayne Wade, on the other hand, is willing to take a gamble on the space.
“My business career has gone pretty similar to my basketball career,” he remarked.
Dwayne Wade makes a crucial economic decision.
According to Spotrac, a website that records sports connections, Wade, who retired from basketball in 2019, earned about $200 million throughout his 16-year NBA career. According to Forbes, he earns $17 million a year through endorsements.
When asked about retirement, Wade remarked, “It’s different.” During the epidemic, Wade claimed he figured out how to apply “the same things that made me a special athlete” to his post-career.
With a significant business move at the heyday of his career, he set the tone for his post-retirement years.
Wade joined with the Converse sneaker company as a rookie in 2003. Then he made the huge switch to Nike.
Wade maintained pushing into new business fields when he retired, building on his success.
Wade established “Wade Cellars” as a winery. He owns a share in the Players TV media organization. He and his wife, actress Gabrielle Union, co-founded the baby goods brand Proudly. He explained that the startup company was born out of a need.
“We have a 3-year-old daughter and we’re travelling to 80 different locations to get supplies,” Wade explained. ‘This doesn’t work for us,’ we said. How can we create something that works for us — the world’s minorities and communities?’
Proudly launched its product range in April, which included baby wash and lotion. The business will eventually sell diapers.
Wade also bought a modest share in a sports team.
In April 2021, he became a co-owner of MLS club Real Salt Lake with Blackstone CEO David Blitzer. Wade wouldn’t say how much his stakes are worth, but he did say it’s a small percentage.
Dwayne Wade stated that being a majority team owner is his “ultimate aim.” However, in this case, his willingness to take risks may be limited.
“But perhaps I’ll go through this procedure and tell myself, ‘No, you don’t want those headaches,'” he explained.