Members of the Florida State football team are being offered the opportunity to participate in a promotional arrangement for a cryptocurrency company for a $500 payment, the latest development in the evolution of collegiate athletes’ ability to profit from their name, image and likeness.
As reported by Sports Illustrated, the offer comes from Yummy Crypto, a four-month-old company. The team-wide offer is similar to another recent deal for University of Miami players to endorse a chain of martial arts gyms.
The FSU agreement requires athletes to make a weekly social media post promoting the company. As of now, the arrangement is only good for the month of September, though Yummy Crypto director of partnerships Corey Johnson told si.com there could be opportunities to extend the deal.
“Depending on how it goes — if we get out of it what we think — we’d continue it for the rest of the season,” Johnson told si.com. “We think it’s going to be huge.”
Johnson said as of Monday, 30 Seminoles’ players had signed on to the deal, including quarterback McKenzie Milton. The arrangement was made through Dreamfield, a NIL marketplace firm partially owned by Milton and Miami QB D’Eriq King.
This article originally appeared on USA TODAY: Florida State football players offered NIL deal from crypto company