NFL stars Trevor Lawrence and Sean Culkin have both signed contracts to receive payments and salaries in digital currencies
The stars of the National Football League (NFL), Trevor Lawrence and Sean Culkin, yesterday signed contracts under which they will receive salaries and sponsorship money in cryptocurrencies. Both are strongly convinced of Bitcoin and other digital currencies and have therefore decided to pay in cryptocurrency.
Trevor Lawrence signed a crypto advertising contract with portfolio tracking company Blockfolio. According to the New York Times, the details of the advertising contract are still unknown. However, Lawrence has already received an entry fee in cryptocurrency.
The entry fee was transferred completely in cryptocurrency to his Blockfolio account. A source familiar with the matter revealed that the value of cryptocurrencies had risen since his payment on Friday.
Sam Bankman-Fried, Managing Director of Blockfolio and FTX, was enthusiastic about this contract. He believes the deal is a win for the cryptocurrency space, and adds that Blockfolio has been attracted by the quarterback’s positive attitude toward cryptos. Bankman-Fried also revealed that FTX and Blockfolio want to promote their businesses to mainstream target groups. The cooperation with Trevor Lawrence is an important step in this regard.
Just a few weeks ago, FTX signed a 19-year naming rights agreement with the Miami Heat. The cryptocurrency exchange pays 135 million US dollars for the naming rights to the stadium, which are valid until 2040.
Culkin receives his salary in Bitcoin
NFL star Sean Culkin has agreed to receive his salary for this season in Bitcoin. According to Newsweek, the Kansas City Chiefs player will receive his total salary of $ 920,000 in Bitcoin. Culkin has teamed up with crypto app Zap to turn his pay into Bitcoin.
According to Culkin, investing in Bitcoin is a better option for him than gold, real estate and other traditional investment vehicles. The investment is a long-term thing for him and not an option to get rich quickly.
“I would not recommend everyone to invest 100% of their salary in Bitcoin. I made this decision after thinking seriously about my current assets and expected expenses in the near future. I believe that in the long term this is the cryptocurrency with the best possible asymmetric risk-return profile“, he added.
Culkin believes that the value of Bitcoin will increase in the coming years, and he intends to benefit from this emerging market.