When Lawrence became a member of Blockfolio they announced their endorsement deal via a press release. In the press release, they mentioned the amount they paid Lawrence as an "signing bonus" probably as a Madden 24 coins attempt to sound cool, by depositing the cash into one of their crypto wallets for the QB."This partnership marks the first endorsement deal in where a significant sign-up bonus was paid entirely in cryptocurrency. The bonus was paid directly into Lawrence's Blockfolio account and also included Bitcoin, Ethereum and Solana."
There's nothing like"signing bonus" or "signing bonus" in the context of an endorsement deal. It's simply the endorsement contract. You sign the deal and get paid -- or in the case of Lawrence the crypto. While the use of this term in sports seems to be a common practice, it's here where things got a bit more complicated. Following the Blockfolio press release, USA Today aggregated the information and this is where that the confusion started.
The report coMadden NFL 24 added the word "signing bonus" that was mentioned by the Blockfolio press release. Then, it mixed it up with Lawrence's actual Madden NFL 24 reward for signing with the Jaguars in reporting it to be $24.1M and relying on Spotrac as the source."The most likely No. one overall selection in the 2021 Madden NFL 24 draft, almost surely headed to an NFL team like the Jacksonville Jaguars, has partnered with a leading cryptocurrency-based investment application called Blockfolio and will place the money he earns from signing into an account owned by the firm."
"According to Spotrac the amount of the signing bonus Lawrence this season's no. 1 selection is $22.630.055." So we have an endorsement contract with Blockfolio, probably not much relative to the rest of the world and was paid in crypto -- and this week, it's been linked to Lawrence's huge Madden NFL 24 signing bonus from the league, and misreported that the cash was transferred into crypto. Whether an honest mistake, or an attempt to make the story a bit more sexually sexier we're at the same place: An endorsement agreement with a crypto firm was paid for in crypto and that's all there is to it.
On Tuesday, an author from The Sun Sentinel took information published by Coinjournal, and made an account of a tweet that poked fun at The Jaguars QB. Of obviously, we know this is completely falseas there is no proof that Lawrence placed his $24 million into crypto. But this fact was mentioned in many news reports that stated that Lawrence was a muggle even though that's not the circumstance.
This is all good news. No one should be cheering for anyone losing their money, even as schadenfreude. Trevor Lawrence is a really charming guy, and madden 24 mut coins it hurts to think he missed the biggest payoff of his professional football career- but instead he probably just lost a small portion of that endorsement deal. It sucks, but it's far from devastating.
