Expected top NFL draft pick Trevor Lawrence reportedly signed an endorsement deal with crypto-investment app Blockfolio – and took his first payment in crypto tokens

Trevor Lawrence, the expected top pick in the upcoming 2021 NFL Draft, has signed a multiyear deal with investment app Blockfolio and was paid exclusively in cryptocurrency, DealBook first reported Monday.

The first payment to football star was immediately transferred to his Blockfolio account. Future payments, however, are subject to whatever combination of dollars and cryptocurrency the former Clemson quarterback desires, according to DealBook.

Other terms of the agreement were not disclosed but a company spokesman revealed that the crypto signing bonus was already worth more on Sunday compared to when it was deposited on Friday.

The football player also made the announcement on Twitter, saying he is “pumped” to join the startup.

“We’re really trying to get our name out a lot,” Sam Bankman-Fried, CEO of FTX, a crypto exchange that acquired Blockfolio, told Dealbook. “Trevor was excited about crypto. That’s what drew us to him.”

Bankman-Fried founded Blockfolio in 2019. Prior to that, the 29-year-old, a former trader at quant-trading firm Jane Street, started a crypto-trading firm called Alameda Research, which launched him to billionaire status.

Given that the cryptocurrency firm, which considers Coinbase as its rival, is relatively new, the company has been trying to partner with bigger brands to garner name recognition.

Under a recent $135-million deal, Blockfolio won naming rights to the NBA’s Miami Heat arena for 19 years, overtaking American Airlines as the leading sponsor for the Florida sports team.

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The EU has approved Microsoft’s $7.5 billion purchase of Bethesda

BEIJING, CHINA - SEPTEMBER 25: (CHINA OUT) CEO of Microsoft Satya Nadella gives a lecture about dream, struggle and creation at Tsinghua University on September 25, 2014 in Beijing, China. CEO of Microsoft Satya Nadella visited China for the first time on Thursday.
Satya Nadella announced the acquisition in September 2020.

  • The EU has approved Microsoft’s $7.5 billion purchase of Bethesda Softworks’ parent company.
  • Future releases will likely be Xbox exclusives and not on PlayStation, with a few exceptions.
  • The EU said there were no competition concerns for Microsoft’s largest-ever video game purchase.
  • Visit the Business section of Insider for more stories.

Despite the pandemic, video game revenue reportedly exceeded sport and film combined in 2020.

According to data from the International Data Corporation reported by MarketWatch, the industry surged 20% to $179.7 billion.

The European Union has now approved Microsoft’s $7.5 billion purchase of ZeniMax Media, the parent company of game publisher Bethesda Softworks.

Microsoft’s acquisition is the company’s largest-ever purchase in the video game sector, Expansion reported.

When the tech giant first announced its plans in September, analysts said Microsoft was looking to diversify its business with more revenue from consumer products.

“As a proven game developer and publisher, Bethesda has seen success across every category of games,” Microsoft CEO Satya Nadella said in a press release announcing the acquisition in September last year. “And together, we will further our ambition to empower the more than three billion gamers worldwide.”

Bethesda is well-known for games including “Fallout,” “The Elder Scrolls,” and “Doom.”

All of Bethesda’s games will now come under Microsoft’s Xbox Studios umbrella.

The company said in September that the release of all PS5 games already announced by Bethesda would continue, but that the remainder of the games would be looked at on a “case-by-case basis,” with some new releases moving exclusively to Xbox.

The tech giant will also be able to incorporate Zenimax’s Bethesda games into its Xbox Game Pass cloud-based video game catalog.

Microsoft first requested EU approval on January 29 and the European Commission has now ruled that it will not pose competition problems to other providers.

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