Most people tend to think of institutional adoption like the Spot BTC ETF Approval and El Salvador Legitimization of Bitcoin as the headlines. While these “everyday cases” are making waves, there is a section that seems to be going unnoticed. Individuals in the sports industry have been making “big crypto moves,” which seem to go under the radar. This article will highlight some pro athletes who make earnings via Bitcoin.
Pro Athletes Who Get in Bitcoin or Earn Tokens
For quite some time, a number of pro athletes have been earning Bitcoin and other tokens. This is prominent in the NBA (National Basketball Association) and NFL (National Football League).
Without further ado, here is a breakdown of the different pro athletes and how much they earn through Bitcoin or other blockchain tokens:
National Basketball Association (BA)
We kick off this list with Golden State Warriors – Klay Thompson and Andre Iguodala. An agreement in January 2022 means that they will both receive a portion of their salaries in Bitcoin through Cash App. Recall that Cash App, in March 2021, announced that users will be able to spend cryptocurrencies without transaction fees. Even better, they will each donate $1 million worth of BTC from their earnings to fans.
Next on the list is Case Cunningham, who will receive his $10 million salary via $BTC. In addition to his paycheck, the NBA Star also signed a contract with BlockFi that will see him appear in educational videos. In a press conference, Mr. Cade added, “For me, it’s not just about setting up myself for financial success long-term but also to educate future generations on financial wellness.”.
National Football League (NFL)
Sean Culkin became the first NFT player to convert his entire salary to Bitcoin. While he will be paid his $920,000 in US dollars, the football star stated that he will convert it to Bitcoin. In his words, “There’s a lot of overlap between gold and Bitcoin. I really spent all of my time in the offseason the past year just hearing about this growing space in crypto. It just seemed like it was getting bigger and bigger.”
Saquon Barkley announced on Anthony Pampliano’s YouTube show that he will be receiving all his endorsement deals as Bitcoin Payments. While on The Best Business Show, Berkley said that. “We’re seeing inflation, and we’re learning you can’t save wealth. That’s why I am going to be taking my marketing money in Bitcoin.”
Trevor Lawrence signed a partnership with Blockfolio that will enable him to receive his signing bonus of $22,630,055 to his blockchain account as Bitcoin and Ethereum. The number 1 overall pick in the 2021 draft is rated highly by both fans and sports analysts. Besides BTC and ETH, he also invested in Solana.
The National Football League seems to have the highest number of pro athletes accepting their salaries in Bitcoin. In November 2021, Odell Beckham Jr. announced via a tweet that he would be receiving his $4.25 million salary in Bitcoin. Like with basketball stars Klay Thompson and Andre Iguodata, Odell will receive his Bitcoin through Cash App and promised to donate $1 million to his fans.
European Football – Noteworthy Mention
Al Nassr football star Cristiano Ronaldo entered into a partnership with top cryptocurrency exchange, Binance. Away from the marketing and promotions, the exchange launched a CR7-themed NFT collection. Fans were able to get copies of iconic moments of the footballing legend’s career. While this is not exactly a direct payment, it is a significant contribution to blockchain.
How Exposure from Pro Athletes Will Benefit Bitcoin and Other Blockchain Projects
Sports is a universal language that connects people from all over the world and remains one of the fastest ways to send global messages. Budweiser, a popular beer brand, sponsored the 2022 FIFA World Cup. Since then, its popularity has increased, and it has even penetrated European and African markets.
This example represents the possibilities of what blockchain projects can achieve if pro athletes can accept salaries, bonuses, and endorsement deals through Bitcoin payments. Sports stars have a global reach, and their recognition of Bitcoin can drive the average person to use cryptocurrencies.
Even with institutional adoption, companies, governments, and other stakeholders still need the common man to trust virtual tokens. One of the best ways to do it is to enlighten individuals in the sporting industry and get them to approve these products after using them. This will build the trust of the everyday person and get them to use cryptocurrencies more.
Are you a pro athlete who wants to receive payments via Bitcoin, Ethereum, or other cryptocurrencies? Do you know that you can avoid excessive transaction fees when you send and spend your Bitcoin through Tectum SoftNote Bills? Create an account today to enjoy Bitcoin in a more spendable way.
