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Retin Obasohan, ASVEL: 'I love innovation'

Retin Obasohan, ASVEL: 'I love innovation'

Interviews

6 March 20235 Mins read

Retin Obasohan, ASVEL: 'I love innovation'

It is important for professional athletes to put their money to work and make wise investments that guarantee a better future. There are many investment options, and one of the newest choices is NFTs, which stands from non-fungible tokens. Non-fungible means that it cannot be exchanged, even for a copy of the same token. All of them are unique and each has a different value.

NFTs represented as pictures, video clips or digital wearables have become a popular way to invest, by identifying those whose value can grow. Retin Obasohan of LDLC ASVEL Villeurbanne has recently started a NFT collection, making him an enthusiast about why virtual property is on the rise.

"One of the greatest things I like about NFTs is the communities that they create."

"I love innovation. I love just seeing the way that -- especially in technology, but also across industries -- humans can be creative, innovate and create new technologies and more efficient ways to create experiences. And I kind of got involved with the blockchain a little over maybe the last six or seven years," Obasohan explained. "I started off just in crypto and got involved, started learning about the technology, different companies, different infrastructures and stuff like that. And then that just kind of spilled over to NFTs.

"I think one of the greatest things I like about NFTs is the communities that they create based on the functionality that they provide. And yes, it's been just interesting because I'm learning so much on the fly."

As Obasohan mentioned, there is more to NFTs than just buying and selling. Communities are online groups with limited membership, turning NFTs into much more than just a collector's item.

"We have a lot of Discord conversations and stuff like that. It's interesting because you get to meet people from all walks of life, all types of industries, and sometimes you can even form meaningful relationships when you want to create something on your own," Obasohan said. "It's been really cool because you are coming in contact with people from all over the world, but you have something in common, usually your NFT, and that kind of creates a common ground for you to start a relationship and conversations."

As for its functionality, Obasohan could go on forever about how NFTs can be really important in the near future.

"You can basically turn a plane ticket into an NFT in a way that is completely secured and you can't fake it. Season tickets, anything basically can be turned into an NFT, basically your house key, car key. So it's a way to provide authenticity and security on a level that we haven't been able to experience before," he says. "And that's just one side of it. So to me, it's so interesting how NFTs can span from a membership pass into an exclusive restaurant all the way to a way that I can transfer ownership of my apartment or house or car in a secure way without any intermediaries. To me, that's super interesting."

So far, Obasohan is not much into buying or selling NFTs, but collecting. He is approaching this new technology with a lot of care, and doesn't discard making his own NFTs in the future.

"Father Time comes for everybody... one day you will have to transition out of playing."

"I own a couple of NFTs. I'd say my most precious one is I have a baby ape, a Baby Ape Social Club. It's a social community on the Solana blockchain. I have two, and it's one that's pretty rare, but that just gives me access to the community and different things that they hold: sometimes giveaways, sometimes even in-person events," Obasohan said. "I am starting off with collecting. I just want to get more familiar with the ecosystem, all the possibilities as well. I'm starting to learn and be exposed to all the possibilities that are that are out there, because one day I want to create my own [NFT] in a way that I feel like will provide the most value to the people that end up buying it."

Regardless the investment being more traditional or innovative, Obasohan believes it is important to generate income with the money you earn as a professional basketball player. You can only play basketball for a number of years, and it is a well-paid job that can generate a lot of wealth for any player and his family.

"We are extremely blessed to play this game in basketball, the one that we love. But at the same time, Father Time comes for everybody, so there's a day where you will have to transition out of playing into whatever that may be," Obasohan said. "But that doesn't mean that while you're playing, you shouldn't be maximizing your earning potential in a variety of ways.

"So I think especially as players that are fortunate to make good money or fortunate to play the game, it is in our best interest to make sure we are making wise decisions with our money, especially towards investments to help us secure a good future."