Trevor Lawrence had a phenomenal college career at Clemson University and he is expected to be the No. 1 pick in the NFL Draft held by the Jacksonville Jaguars. The NFL Draft takes place on Thursday, April 29, 2021.
Lawrence is almost surely heading for the Jacksonville Jaguars, who have the top pick. It has partnered with a global cryptocurrency investing app called Blockfolio.
The terms of the agreement have has not been disclosed but Lawrence has signed a multi-year approval agreement and will be paid this week – in crypto. Lawrence has already received a signing bonus and the money has been deposited into their account with Blockfolio.
“When this is my cryptocurrency wallet, I wanted a long term partner in the space that I could trust, ”Lawrence said in a statement.
Lawrence wallet includes traditional cryptocurrencies such as Bitcoin and Ethereum. He also invested in Solana, a lesser-known blockchain.
According to Spotrac, the signing bonus for this year’s Choice №1 is estimated at $ 22,630,055.
“Trevor Lawrence This is the future of professional football and cryptocurrency is the future of money, so the partnership was a given, ”said Sam Bankman-Fried, CEO of Blockfolio.
“We I think Trevor is the future of football, and we think crypto is the future of finance, ”said Sina Nader, COO of Blockfolio. “Trevor represents a lot of the promise and potential of football at the highest level, and we believe crypto represents the same at the highest level of funding.”
Trevor Lawrence was interested in cryptocurrencies.
“I am really delighted to join the Blockfolio team, ”said Lawrence. “When it comes to my cryptocurrency portfolio, I wanted a long-term partner in the space that I could trust.”
In January 2021, Folio block started offering cryptocurrencies and trying to compete with apps like Coinbase. Previously, Blockfolio was primarily a cryptocurrency app to track an investor’s cryptocurrency holdings.
Blockfolio is trying to reach a younger audience by teaming up with Lawrence. FTX, parent company of Blockfolio, paid $ 135 million in early April to secure the naming rights to the Miami Heat arena for the next 20 years.
Lawrence has already signed an agreement with Gatorade and now adding more non-traditional recommendation types with Blockfolio.
Since signing the deal on Friday, Lawrence’s deal has already gained in value on Monday morning. Each of the investments increased by at least 7% between Friday evening and Monday morning. Lawrence’s approval includes Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Trevor Lawrence isn’t the only football player involved in Bitcoin.
Recently the Kansas City Chiefs Sean culkin announced that he would convert his entire base salary of $ 920,000 for this year into bitcoin.
Two years ago, Russell okung wanted to be paid in Bitcoin. Okung converted half of his $ 13 million salary in December 2020. At the time, Bitcoin’s price was around $ 27,000. Since owning Bitcoin, he has almost doubled his investment.
Other sports get involved to pay their players with Bitcoin. The Sacramento Kings and Southampton, the first team in the English League have announced that they will pay their players in Bitcoin.
Sports teams have also started accepting Bitcoin and other cryptocurrencies for payment. The Oakland Athletics and the Dallas Mavericks have started accepting cryptocurrencies for game tickets.
Sports and gamers are taking the leap to get involved in Bitcoin and cryptocurrencies. Just a few years ago, businesses moved away from digital currencies.
With the signing of deals by Trevor Lawrence with companies, it is likely that this trend will continue in the future. The also places increased demand on Bitcoin. It will be interesting to see what this future draft pick does with his expected salary and future endorsements.