The likely No. 1 pick in Thursday’s 2021 NFL Draft has already made his first selection, agreeing to a sponsorship deal with crypto exchange Blockfolio.
Trevor Lawrence received a cryptocurrency signing bonus after inking the multiyear pact. The size of the bonus was not disclosed, but it was reportedly paid in Bitcoin, Ethereum, and Solana, and has gained value since being deposited on Friday.
Lawrence joins a growing list of athletes and teams embracing cryptocurrency.
- Sean Culkin of the Kansas City Chiefs announced Monday that he’s converting his 2021 base entire NFL salary to Bitcoin.
- The Dallas Mavericks and Sacramento Kings allow fans to pay for tickets with Bitcoin. The Mavs also accept Dogecoin and the Kings want to allow players and staff to be paid directly in Bitcoin, though this is currently prohibited by the NBA.
- The Oakland A’s allowed fans to purchase a stadium suite for the 2021 season for one Bitcoin and sold it.
- Free agent NFL lineman Russell Okung converted a significant portion of his salary into Bitcoin (though he didn’t receive it directly as Bitcoin).
Blockfolio’s parent company, FTX, is bullish on sports fans: The company ponied up $135 million for a 19-year arena naming rights deal with the Miami Heat earlier this year.
Bitcoin has dipped from its mid-April high of $64,000 to around $54,000, but it’s still up nearly sevenfold from its price one year ago.
Lawrence also has endorsement deals with Gatorade and, reportedly, adidas, who are presumably paying him cash.