The NFL draft doesn't start until Thursday, but Trevor Lawrence is already making deals like a pro football player.
Lawrence, the overwhelming favorite to be the No. 1 overall pick in the draft, has signed a multi-year endorsement deal with the cryptocurrency investment app Blockfolio. The terms of the first-of-its-kind deal haven't been disclosed, but he did receive a signing bonus that was paid out entirely in crypto and deposited into his Blockfolio account. A spokesperson for the company told the New York Times that his signing bonus is already worth more than it was on Friday when it was deposited.
— Blockfolio (@blockfolio) April 26, 2021
Blockfolio competes with apps like Coinbase, and is trying to reach a younger client base by partnering with Lawrence. FTX, Blockfolio's parent company, paid $135 million in early April to secure the naming rights to the Miami Heat's arena for the next 20 years.
While Lawrence had already signed a deal with Gatorade, a more traditional choice for a presumptive No. 1 pick, the Blockfolio deal continues the trend of non-traditional endorsements for No. 1 picks. Cincinnati Bengals quarterback Joe Burrow, the No. 1 overall draft pick in 2020, signed a deal with Lordstown Motors, an Ohio-based all-electric truck company.
The NFL draft begins on Friday, April 29 at 8:00 p.m. ET.
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