After Lawrence Madden 23 coins came to Blockfolio they announced their endorsement agreement in the form of a press announcement. The press release referred to the cash they paid Lawrence as a "signing bonus," likely as a shorthand way of trying to sound sporty, saying they were depositing the cash into one of their crypto wallets for the QB."This collaboration is the first endorsement deal ever in which a significant signing bonus is paid completely in cryptocurrency. The bonus was deposited directly into Lawrence's Blockfolio account and was accompanied by Bitcoin, Ethereum and Solana."
There's not a thing called a "signing bonus" in relation to an endorsement contract. It's just the endorsement contract. After you sign it, you get paid money or, in Lawrence's case you receive crypto. While the use of this term in sports seems to be a common practice but here's where things got interesting. In the wake of the Blockfolio press announcement, USA Today aggregated the announcement and that the confusion started.
The article coMadden NFL 23 incorporated the word "signing bonus" that was mentioned in the Blockfolio press release. They also blended it with Lawrence's actual Madden NFL 23 reward for signing with the Jaguars -- reporting the amount as $24.1M and using Spotrac as an source."The presumed number. one overall selection of the 2021 Madden NFL 23 draft, most likely headed to Jacksonville Jaguars Jacksonville Jaguars, has partnered with a worldwide cryptocurrency investment platform called Blockfolio and will transfer the money he earns from signing into an account at the company."
"According to Spotrac The signing bonus for next year's top. one choice is $22.630.055." So we have an endorsement deal from Blockfolio, which is likely to be quite modest in comparison to other endorsement deals it was paid in cryptocurrency -- and this week, it's been linked to Lawrence's enormous Madden NFL 23 signing bonus from the league. The league has also misreported that the cash was transferred into crypto. If it was an honest error, or just an attempt to make a story a bit more sexually sexier we're all in the same spot: An Mut 23 coins endorsement deal with a crypto-related company was paid in crypto and nothing more.
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