Trevor Lawrence signs deal with cryptocurrency app, gets bonus paid in crypto
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.
We're excited to announce our partnership with football star, @Trevorlawrencee! The world of sports and crypto will never be the same. pic.twitter.com/8KC3ZHHagu
— 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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