Trevor Lawrence, expected to be the first pick in the NFL draft, signs an endorsement deal with crypto app Blockfolio

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Soccer star prospect and alleged No. 1 overall pick in this week’s NFL draft, Trevor Lawrence, is signing a number of endorsement deals, including Gatorade, Adidas ADS, -0.30%, and the portfolio management app of Blockfolio cryptocurrencies. Lawrence announced the news on Twitter.

According to Action Network, Lawrence accepted his signing bonus from this exclusively crypto endorsement deal last Friday night in a combination of bitcoin BTCUSD, + 12.93%, ethereum ETHUSD, + 14.00%, and Solana. Each of these rose by at least 7% between Friday night and Monday morning. The Lawrence agreement is another example of how professional athletes get more involved in cryptocurrencies. Kansas City Chiefs tight end Sean Culkin announced Monday that he will convert his full base salary of $ 920,000 by 2021 into bitcoin. Culkin called bitcoin the “future of finance” during his announcement. Lawrence’s deal with Blockfolio is also another example of athletes looking for atypical types of endorsement deals. Last year’s No. 1 overall pick in the NFL draft, Joe Burrow, signed an endorsement deal with electric vehicle maker Lordstown Motors Corp. RIDE, + 2.77% while Lawrence and Burrow also signed more athlete sponsorships. With traditional companies like Adidas, Gatorade and Nike NKE, + 0.57%, this new wave of endorsements could represent a shift towards more unconventional deals. In recent days, Bitcoin rallied above $ 50,000 after a recent series of losses.