Dreams will be made on Friday night. The NFL draft is upon us, and with a deep offensive talent pool, we are looking at the future of NFL playmakers. One of those playmakers is Clemson quarterback Trevor Lawrence. Lawrence is looking at locking up the top spot in the draft and becoming the new face of the league. Now, he will also be the face of Blockfolio. The Trevor Lawrence crypto deal already turned the football star a profit before the ink dried on the contract.
With the NFL already on a collision course with the world of cryptocurrency, a signing like this is both expected, and a huge deal. Here’s everything you need to know.
The Trevor Lawrence Crypto Deal: What to Know
- Trevor Lawrence is slated to be the first overall selection in the draft on Friday. This means he’s likely to go to the Jacksonville Jaguars under new head coach Urban Meyer.
- The deal Lawrence has struck up with Blockfolio is his second major partnership deal. His first deal is with sports-drink brand Gatorade.
- Blockfolio is one of the major crypto exchanges in the United States, rivaling exchanges like Coinbase (NASDAQ:COIN).
- The exact numbers around the deal are not public yet. We do know, though, that Lawrence’s signing bonus was entirely in crypto. The bonus, deposited into Lawrence’s personal Blockfolio wallet, has reportedly already grown in value since the signing.
- The signing isn’t the first tech partnership by a 1st-overall draft pick. The first overall pick in 2020, Joe Burrow, signed a deal with EV truck manufacturer Lordstown Motors (NASDAQ:RIDE) ahead of his selection by the Cincinnati Bengals.
- The NFL is definitely not unfamiliar with crypto. Russell Okung, an offensive tackle who signed a $13 million contract with the Carolina Panthers last year, wanted $6.5 million of the contract converted to Bitcoin (CCC:BTC-USD). The appreciation of that $6.5 million has made Okung one of the highest-paid players in his position.
- Others are wising up to digital currency as well. The same day as the Lawrence-Blockfolio announcement, Kansas City Chiefs tight end Sean Culkin decided to take his salary in Bitcoin. Culkin’s entire $920,000 salary will be in BTC, making him the first ever player to take a fully crypto paycheck.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.