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December 27, 2021

NFL Players Take Salaries In Crypto, Increasing the Value of Digital Assets

In recent weeks, there’s been a lot of crypto sports news, as companies try to capitalize on sports media coverage for development. Crypto exchange Crypto.com (CRO) purchased Super Bowl LVI airtime last week as part of its 5-year plan to become a top 20 consumer brand. The move followed the announcement of a sponsorship contract with Angel City F.C., a female soccer side from the United States.

However, crypto platforms aren’t the only ones looking to sports. Players have also shown an increased interest in crypto or crypto-fiat blended compensation.

This week, word broke that a handful of prominent NFL players have entered the crypto arena by requesting to be paid entirely or partially in cryptocurrency. The developments follow an excellent year for both the crypto market and the NFL.

In late 2021, a number of the most popular cryptos, including Bitcoin (BTC), reached all-time highs. The newest news will continue to boost interest in Bitcoin (BTC) and the broader cryptocurrency market as crypto use continues to climb.

Seven NFL Players Take Crypto Salaries

Aaron Jones, Aaron Rodgers, Odell Beckham Jr, Saquon Barkley, Sean Culkin, Tom Brady, and Trever Lawrence are among the athletes who have lately declared that they would be paid in cryptocurrency. Sean Culkin is the only player on the list who pays his whole wage in Bitcoin. Others are exchanging a piece of their salaries or may get cryptocurrency endorsements.

Aaron Rodgers, the reigning 2020 NFL Most Valuable Player, stated his decision to take a percentage of his paycheck in Bitcoin last month in a video clip on Twitter, and disclosed that he will be shaking hands with the Cash App payment provider. In addition, he stated that he will give $1 million in Bitcoin.

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Tom Brady, another high-profile NFL quarterback, dabbled with cryptocurrencies in 2021. Though he has not said if he gets paid in BTC by NFL, he will be compensated in bitcoin by FTX as a brand ambassador thanks to his ownership position in Sam Bankman-exchange. Fried’s The NFL great has recently unveiled his Autograph Non-Fungible Platform. Its goal is to attract fresh talent in the fields of sports, entertainment, fashion, and pop culture.

Saquon Barkley, the standout running back for the New York Giants, said in July that he will convert all of his endorsement revenue to BTC. He is not, however, compensated in crypto currencies and instead converts his money into BTC.

The seven players, however, are not the first to get paid in crypto. Russell Okung is said to be the first NFL player to accept a cryptocurrency paycheck. In 2020, he received half of his earning in Bitcoin (BTC).