Cade
Cunningham, a top NBA draft pick, struck a sponsorship deal with crypto
business BlockFi on Thursday, which will see him get his signing bonus in
bitcoin.
Cunningham's
bitcoin signing bonus was worth an undisclosed amount, according to BlockFi.
Through the "multi-year" deal, it plans to partner with the former
Oklahoma State University standout on educational and promotional videos.
The
agreement continues a trend of top-drafted players entering into early-career
deals with the digital assets business, with at least some of their
compensation paid in cryptocurrency. When Trevor Lawrence, the first overall
draft pick in the National Football League, signed an FTX sponsorship in April,
he earned a mix of bitcoin, ether, and solana.
Crypto firms are vying for brand awareness in a variety of sports throughout the world. The top players have conducted an advertising blitz with their bull market gains, whether it's a soccer squad with a dogecoin logo, an umpire adorned with FTX, or a UFC octagon brought to you by Crypto.com.
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