Markets Outlook – "Trade Players, Not Shitcoins": Inside Tristan Thompson's Next Venture

Host: CoinDesk
Guests: NBA champion Tristan Thompson, Somnia founder Herman Narula
Date: September 27, 2025

Episode Overview

This episode dives into a groundbreaking collaboration between NBA veteran Tristan Thompson and Somnia founder Herman Narula, focusing on the revolutionary idea of "information finance" (InfoFi) in sports. The conversation centers on giving fans genuine influence through decentralized prediction and fantasy markets leveraging blockchain. The guests discuss how their platform aims to disrupt traditional fan engagement, prediction markets, and player valuation—urging listeners to "trade players, not shitcoins." Regulation, the intersection between sports and crypto, and the cultural synergy between both communities are also prominent themes.

Key Discussion Points & Insights

1. Reimagining Fan Engagement

• Challenge with Fan Influence in Sports
  • Tristan Thompson laments that, despite athletes claiming fans are central, their voices often lack real impact.
  • "We always preach and talk about how the fans are what makes the sport right. ...but we never really put our money where our mouth is or even just elevates them to a place where their voice actually matters."
    — Tristan Thompson [00:36]

2. Beyond Gambling: InfoFi and Market Disruption

• Expanding on Information Finance
  • Herman Narula underlines the move from mere betting or predictions to aggregating fan-sourced data for more efficient markets.
  • "This is about more than just gambling, more than just making predictions. This is about information finance... groups of fans... can accumulate information more efficiently than markets can."
    — Herman Narula [01:08]
• Disrupting Valuation and Scouting
  • The aim is to reward deep fan expertise, not just traditional analytics or nepotism.
  • "Imagine if the community is able to give you positive and great information... really telling you the valuable player, the true value of player not just these analytics, statistician guys... who actually really knows the sport and actually can help the sport grow completely."
    — Tristan Thompson [03:08]

3. Building a New Paradigm: Why Blockchain & Tokens?

• Trading Tokens Representing Players
  • Moving the craze from shitcoins (low-value tokens) to player tokens with tangible implications.
  • "We're already trading shitcoins. Why not trade tokens that represent players? Why not trade things that really matter?"
    — Herman Narula [05:40]
• Rewarding Early Adopters & Fair Engagement
  • Early fans and participants will become “co-creators and builders,” not just passive consumers.
  • "There's a huge vision for the company to reward early adopters... to make them co creators and builders."
    — Herman Narula [06:32]

4. How the Platform Works for Fans

• User Experience
  • Modeled on the credibility and engagement of fantasy and prediction markets—like FanDuel or DraftKings—on the blockchain
  • "The experience is pretty simple. I mean, just imagine basically using the blockchain for, for just fantasy and prediction market."
    — Tristan Thompson [04:56]
• Accessibility & Low Fees
  • A commitment to low transaction fees to make the platform equitable.

5. Role Players, Not Just Superstars

• Levelling the Playing Field
  • The system lets fans highlight unsung contributors (e.g., Marcus Smart for the Celtics), not just household names.
  • "Not just the LeBron James and the Giannis, but everybody else... let the fans really ignite that and put a value behind that and tokenize it..."
    — Tristan Thompson [06:05]

6. Crypto & Sports: Cultural Crossover

• Why Sports & Crypto Mesh
  • Sports fandom, fantasy gaming, and crypto-native competitiveness all overlap. Athletes are seeing crypto as a parallel to betting on oneself.
  • "Crypto guys want to get on the court and play one on one versus their players and like literally go hoop."
    — Tristan Thompson [07:19]
• Regulatory Shifts Open New Avenues
  • U.S. law is becoming more accommodating, creating a gray zone between classic securities/gambling and these new crypto platforms.
  • "With tax changes... and the approach to gambling being almost seen as like commodity market interaction... it's led to a lot of people being excited."
    — Herman Narula [07:56]

7. Decentralization vs. Regulation

• Adapting to Evolving Laws
  • The need to maintain actual decentralization, resisting the sector’s drift back to centralization for regulatory comfort.
  • "A lot of crypto has lost its decentralization... So our hope is that if we can maintain credible decentralization, then no matter the regulatory climate, we're going to create an environment that is pretty appealing..."
    — Herman Narula [08:49]

8. Crypto Penetration in the NBA Locker Room

• Athletes as Crypto Advocates
  • Teammates are increasingly crypto-curious, constantly asking Thompson for advice.
  • "Guys are texting me and then, like, in a group chat saying, like, yo, it's pumping. What should I do? I'm like, hold it. Long term, guys. Think long. The same way you bet on yourself to get to the NBA, you got to bet on these coins..."
    — Tristan Thompson [09:40]

9. Memorable Bitcoin Price Predictions

• Playful Predictions
  • Arthur Hayes (referenced): $250k
  • Tristan Thompson: $150k by EOY
    • "I'd rather set the bar low and overachieve..." — Tristan Thompson [10:44]

Notable Quotes & Moments

• "We're already trading shitcoins. Why not trade tokens that represent players? Why not trade things that really matter?"
  — Herman Narula [05:40]
• "The same way you bet on yourself to get to the NBA, you got to bet on these coins... Bet on, bet on the space. Bet on what the future of digital finance is."
  — Tristan Thompson [09:40]
• "If we make the discovery of talent into something that can accumulate value, maybe we can open up a whole bunch of people to career opportunities that wouldn't otherwise have existed."
  — Herman Narula [04:10]

Major Timestamps

• 00:36 – Tristan on the real value of fans in sports
• 01:08 – Herman explains information finance and Tristan’s founder credentials
• 03:08 – Tristan on challenging the system and the power of online communities
• 04:10 – Global scouting inefficiencies and opening new career doors
• 04:56 – Tristan describes the fan experience on the platform
• 05:40 – Pivot from shitcoins to player tokens
• 06:32 – Early adopters as co-creators
• 07:19 – Crypto and sports cultural crossover
• 07:56 – Regulatory and legal catalysts
• 08:49 – Herman on decentralization and regulatory navigation
• 09:40 – Tristan on crypto in NBA locker rooms
• 10:33 – Bitcoin predictions: Arthur Hayes vs. Tristan Thompson

Conclusion

This episode paints a compelling picture of the fusion between sports, crypto, and fan empowerment. Thompson and Narula propose moving the center of market value from speculative tokens (“shitcoins”) to real-world performance and expertise, letting fans and data—not just insiders—shape the sports economy. The episode is an authentic look at crypto’s next frontier, where anyone can "bet on the space" and help rewrite how talent, fandom, and ownership are valued.