NFL star Patrick Mahomes on crypto and investing: 'It's about the people'

Brian Sozzi
·Executive Editor
·3 min read
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NFL phenom Patrick Mahomes hasn't hidden his desire to build a business empire. And more recently, one plank in that growing empire has included bets on cryptocurrencies and NFTs.

"I've kind of dabbled in little things here and there like crypto and like NFTs," the star QB of the Kansas City Chief said in an interview Yahoo Finance Presents. "There's a lot of different people doing NFTs now. And I don't want to do something that's not great and that's below what I believe is my standard."

Mahomes famously sold $3.4 million in NFTs in 20 minutes in one auction in 2021.

The crypto and NFT markets remain notoriously speculative, with legions of colorful characters trying to make a fast buck. Mahomes says he rides with people he thinks he can believe in before putting money to work in these emerging asset classes.

"It's about the people more than it's about the actual pitch. And I feel like I've really tried to try to invest in people more than I try to invest in what they're trying to sell me," Mahomes explained. "If you get the people that are dedicated and that are smart and do it the right way, they can make stuff work."

Suffice it to say, the 26-year-old Super Bowl champion is making his career work for him.

LUBBOCK, TEXAS - FEBRUARY 16: Quarterback Patrick Mahomes of the Kansas City Chiefs cheers during the first half of the college basketball game between the Texas Tech Red Raiders and the Baylor Bears at United Supermarkets Arena on February 16, 2022 in Lubbock, Texas. (Photo by John E. Moore III/Getty Images)
LUBBOCK, TEXAS - FEBRUARY 16: Quarterback Patrick Mahomes of the Kansas City Chiefs cheers during the first half of the college basketball game between the Texas Tech Red Raiders and the Baylor Bears at United Supermarkets Arena on February 16, 2022 in Lubbock, Texas. (Photo by John E. Moore III/Getty Images)

After signing a record-setting 10-year, $503 million contract in 2020, Mahomes purchased a minority stake in the Kansas City Royals. He then invested an undisclosed sum for a stake in surging wearable device company Whoop. The tech unicorn has an estimated valuation of about $3.6 billion.

Those power moves come in addition to Mahomes having endorsement deals with athletic-wear maker Adidas, sports recovery device seller Hyperice and supplement seller BioSteel.

As icing on the cake, Mahomes is a shareowner in NetJets rival Airshare. The company is one of the nation’s largest private aviation companies, with Mahomes using it to navigate his busy schedule — which now includes being a husband (married in mid-March to his high school sweetheart Brittany) and dad to 13-month-old daughter Skye.

"I have a wife now and I have a baby girl of 13 months. And so everything I do is kind of for them. I can't just be going out there and playing football and have no other thoughts about it," Mahomes adds. "It's about building a legacy, something special that one day I'll be able to leave for my kids."

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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