This article is not financial advice and I am not a financial advisor.
The Jacksonville Jaguars will land their franchise quarterback. Clemson quarterback Trevor Lawrence is the consensus No. 1 overall selection in the NFL Draft on Thursday night.
Once the NFL commissioner announces the selection and Lawrence signs on the dotted line, he will become a very rich man.
The company did not disclose the exact number.
Lawrence has signed an endorsement deal with the app, Blockfolio. His accounts will consist of investments in Bitcoin, as well as Ethereum and Solana.
Lawrence Thoughts on Deal
According to Blockfolio, his signing bonus is already worth more now than when the payment was deposited on Friday.
“I’m really excited to be joining the Blockfolio team,” said Lawrence. “When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust.”
The deal will also allow Lawrence to deposit any combination of regular dollars and cryptocurrency that he chooses.
What is Blockfolio?
Blockfolio takes a user-first approach and is committed to providing the best products to help the advancement of the decentralized movement and ecosystem.
Founder Edward Moncada believes, “At Blockfolio, we believe that market data and information should be freely available for the benefit of the ecosystem. We are committed to always providing our services 100% free of charge to our end users.”
Huge Marketing Win for Blockfolio
Blockfolio landing Lawrence as the face of their sports portfolio is a genius marketing maneuver.
“We believe that Trevor is the future of football, and we think that crypto is the future of finance,” said Blockfolio’s COO Sina Nader.
“Trevor represents a lot of the promise and potential of football at the highest level, and we think that crypto represents the same thing at the highest level of finance.”
The move with Lawrence is a strategic move for Blockfolio to move into sports. The company will also have their name on the arena where the Miami Heat play.
FTX, the cryptocurrency exchange that powers the Blockfolio app, closed a 19-year deal for the naming rights to the Miami Heat’s arena in late March. The newly named FTX arena will attempt to leverage Blockfolio platform.
They’ll hope to engage fans and provide further information and education on the blockchain economy.
The Closing Bell
Cryptocurrency is the wave of the future. Over the last few months Dogecoin and Bitcoin have been all over the mainstream media. This was thanks to Tesla founder Elon Musk and Reddit stock traders.
This move for Lawrence will begin to set the trend for young athletes and how they manage their earnings. He has already locked up sponsorships with Gatorade and Bose, it’s almost a guarantee that he’ll invest those funds in this new Blockfolio.
The company Blockfolio will benefit from a younger generation of investors who’ll flock to their website to learn more about them. With the sentiment towards Robinhood currently still bearish due to the app restricting trading of meme stocks earlier in the year.
The stock market is hot right now and the Lawrence/Blockfolio partnership will bring more eyes fo cryptocurrency. More players will will follow in Lawrence’s footsteps in the coming weeks and months.
The Jaguars are about to be relevant again, thanks to Lawrence. He’ll also bring more eyes to cryptocurrency and investors are going to be following very closely.
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