Long Beach (CoinChapter): Trevor Lawrence, the presumed number one overall pick in this week’s NFL Draft, has signed an endorsement deal with crypto investment app Blockfolio.
According to the New York Times, Lawrence received a signing bonus entirely in crypto. Furthermore, a spokesperson of Blockfolio says that bonus is already worth more than it did when deposited on Friday. The signing bonus is a mix of Bitcoin, Ethereum, and Solana, all of which went up at least 7%.
Lawrence does have some of the more traditional endorsements in tow already. With the likes of Adidas and Gatorade already on board. But crypto seems to be a real passion of Lawrence’s.
Sam Bankman-Fried, CEO of Blockfolio’s parent company FTX spoke on Lawrence’s attitude towards crypto in general. Bankman-Fried noted that Lawrence was “excited about crypto” which helped draw them toward the Clemson quarterback. He also added that FTX is looking to promote its business to the mainstream.
The company has already begun to do that, recently agreeing to a 19-year naming rights deal with the home arena of the NBA’s Miami Heat. Formerly the American Airlines Arena, the $135 million deal will see it renamed the FTX Arena until 2040.
Lawrence Is Another Example of Athletes Getting Involved In Crypto
This move is another example of star athletes getting more involved in the cryptocurrency world. Kansas City Chiefs tight end Sean Culkin announced he will convert his entire $920,000 base salary for 2021 into Bitcoin. Culkin is the first NFL player to receive full salary payments in crypto. He even went as far as calling Bitcoin the future of finance in his announcement.
Culkin will receive from the Chiefs via Bitcoin lightning wallet platform Zap, which is backed by Visa. For those who remember, this is the same platform used by then-Carolina Panthers offensive tackle Russell Okung in 2020. Okung used Zap’s strike platform to convert half of his $13 million salary into Bitcoin last season.
Trevor Lawrence Latest NFL Star To Enter Cryptocurrency
Lawrence is the latest NFL star to get involved in the crypto world, though most have gone the NFT route. Peyton and Eli Manning, Patrick Mahomes, and Rob Gronkowski have all launched NFT collections while Tom Brady launched an entire NFT platform called Autograph. Meanwhile NBA Top Shot remains the premier NFT trading platform in sports, while Major League Baseball and World Wrestling Entertainment have gotten involved in NFTs as well.
Athletes are finding more ways to make the leap into the crypto universe. Lawrence may have moved the needle yet again and others could soon follow suit.
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