When Lawrence has joined Blockfolio they announced their MUT 24 Coins endorsement agreement in an announcement in a press release. The release mentioned the amount they were paying Lawrence as an "signing bonus," likely as a shorthand strategy to sound like a sportsperson, claiming they were depositing the bonus in an crypto wallet to be used by the QB."This partnership is the very first endorsement deal ever in which a substantial signing bonus was paid entirely in cryptocurrency. The bonus was transferred directly in Lawrence's Blockfolio account and included Bitcoin, Ethereum and Solana."
There's no such thing as"signing bonuses" or "signing bonus" when it comes to an endorsement deal. The endorsement contract is all that's needed. When you sign the contract in exchange for money or, in Lawrence's case you receive crypto. Although the term used in sports isn't a big deal but it's in this instance that things got a bit more complicated. In the wake of the Blockfolio press release, USA Today aggregated the announcement and the confusion began.
The story coMadden NFL 24 added the word "signing bonus" which was given on the Blockfolio press release. It also mixed it up with Lawrence's actual Madden NFL 24 award offered by the Jaguars and reported it to be $24.1M as well as using Spotrac as an source."The presumptive No. one overall selection in the 2021 Madden NFL 24 draft, probably headed to The Jacksonville Jaguars, has partnered with a world-wide cryptocurrency investment app called Blockfolio and is expected to buying MUT Coins deposit his signing bonus into an account of the company."
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