Cryptocurrency payments to NFL tycoon rookie sponsored by FTX affiliated investment app Blockfolio pays NFL rookie cryptocurrency
Trevor Lawrence, who is known as the number one rookie of the US NFL (National Football League), announced on the 26th that he has signed an endorsement contract with Blockfolio, a wallet company under the crypto asset (virtual currency) exchange FTX.It is worth mentioning that all salaries are paid in virtual currency.
Lawrence is a star player who was active as a quarterback (QB) at the prestigious Clemson University.After making an appearance in his first year of college, he finished the season undefeated in 2019 and won the national college football championship, and is expected to be the number one QB in the 2021 draft.Pumped to announce I’ve joined @blockfolio Excited to help bring these two worlds together #Crypto pic.twitter.com/8eJKU4QIrI
— Trevor Lawrence (@Trevorlawrencee) April 26, 2021
The draft of the NFL, one of the major professional sports in the United States, will be held for three days from April 29, but it will be in the form of an endorsement contract signed before the draft.In addition to Blockfolio, Lawrence also signed an endorsement contract with sports drink brand Gatorade on the 23rd of last week.
An endorsement contract is a type of contract in which the sponsor side uses the names and photos of celebrities such as athletes to improve brand power and advertising effectiveness.Notably, the contract with Blockfolio will make all payments in cryptocurrencies, which is the first case in the NFL.
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are included, although the exact amount has not been disclosed.
The cryptocurrencies paid will be stored in Lawrence’s Blockfolio account.
Blockfolio is a cryptocurrency investment app acquired by FTX last summer.COO Sina Nader told Forbes that the aim is to raise awareness of cryptocurrencies by signing a multi-year endorsement deal with the NFL tycoon rookie.
(Lawrence) believes in the future of American football.
He has high potential and represents the pinnacle of American football, but he also considers cryptocurrencies to be the pinnacle of finance.
Nader hopes that showing Lawrence using the Blockfolio app to buy, sell and trade cryptocurrencies will help raise awareness of cryptocurrencies among younger generations.
Blockfolio’s parent company, FTX, won the US NBA team’s Miami Heat arena naming rights at the end of March, in addition to the NFL.He had signed a 19-year contract for about 15 billion yen ($ 135 million).
Relation: Cryptocurrency exchange FTX acquires naming rights for US NBA arena ── Agreement with local government NFL and cryptocurrencies
Among the NFL players, there are many players who are interested in virtual currencies.Sean Culkin, the tight end (TE) of “Kansas City Chiefs,” also announced on the 26th that he will replace all of his 2021 season salary with Bitcoin.I fully believe Bitcoin is the future of finance and I wanted to prove that I have real skin in the game — not just trying to make a quick buck.I will be converting my entire 2021 NFL salary to #Bitcoin ..
— Sean Culkin (@ culkin22) April 26, 2021
In front of Culkin, there is a case where Russell Okung of Offensive Tackle (OT) who belonged to Seahawks and Panthers received 50% of the annual salary of about 1.3 billion yen in the 2020 season with Bitcoin.
Relation: For the first time in US major sports, NFL players pay 50% of their annual salary of 1.3 billion yen in Bitcoin
In March, NFL players sold their own NFTs (non-fungible tokens) at OpenSea and other places, and there were multiple cases where the winning bid amount was donated to a charity.Furthermore, it was suggested that the NFT concept is being considered throughout the league.
Author: Noah Sakamaki Images used under Shutterstock license“Cryptocurrency” means “cryptographic assets”.
