Clemson quarterback Trevor Lawrence will likely be the first player taken in the 2021 NFL Draft on April 29. He is wasting no time building an endorsement portfolio, even prior to being selected and receiving a guaranteed payout of millions of dollars from his rookie contract.
Lawrence signed what could be called a traditional endorsement deal with Gatorade and today has announced a more groundbreaking agreement with cryptocurrency company Blockfolio. His entire signing bonus from the multi-year deal has already been paid to him in cryptocurrency.
Blockfolio’s release states that its arrangement with Lawrence marks the first endorsement deal ever where a significant signing bonus has been paid entirely in crypto. Lawrence has decided to focus mainly on Bitcoin and Ethereum investments for the time being.
“Trevor Lawrence is the future of professional football and cryptocurrency is the future of money, so the partnership was a no-brainer,” said Sam Bankman-Fried, CEO of Blockfolio. “But as impressive as Trevor is on-the-field, I was most impressed with his character and charitable focus off the field.”
Lawrence is likely already quite fond of the new relationship, as his crypto investments, which were put into his account on Friday, are already worth significantly more with the rise of Bitcoin and Ethereum over the weekend. But Lawrence is not alone in hopping aboard the crypto caravan. Kansas City Chiefs tight end Sean Culkin has announced that he will convert his entire NFL salary to Bitcoin. After receiving his biweekly payments, Culkin will have his U.S. dollars immediately converted to Bitcoin through a program called Zap.
Blockfolio’s parent company, FTX.us, recently signed a 19-year, $135 million agreement to have its name attached to the arena that serves as the home for the Miami Heat. Every day, the professional sports world seems to be getting more closely aligned with the cryptocurrency community.