2021 is a great year for NFL (National Football League) fans. With the 2020 season shortened and attendance limited, stadiums are returning to full capacity. The stadium car park is once again filled with enthusiastic anticipation from rear-end chasers.
It's also been a great year for investors in bitcoin (BTC), the largest cryptocurrency by market capitalization, which hit new all-time highs multiple times throughout 2021, culminating in a peak of $69,000 in early November. This led to a massive increase in media coverage of Bitcoin.
In 2021, seven NFL players decided to speak out and began accepting cryptocurrencies for salary payments, or converting some of their cash salaries to cryptocurrencies. These players are taking full advantage of the return of the regular season and the increased profitability of Bitcoin.
Aaron Rodgers
On November 1, 2020 NFL MVP (Most Valuable Player) Aaron Rodgers (Aaron Rogers) posted a video on Twitter announcing that he is working with the Cash App payment service company to accept part of his salary in Bitcoin. Rodgers is making about $22.3 million this year.
In the video, Rodgers dresses up as John Wick for a Halloween party. If that wasn't weird enough, and likely on purpose, Rodgers also told viewers that he would be donating $1 million in bitcoin.
Rodgers will send a portion of his salary to his Cash App account, which he will then use to buy bitcoin.
The star Green Bay Packers quarterback's Twitter profile featured a photo of him in game, showing the iconic Retinazer, further signaling his support for BTC.
Tom Brady
Tom Brady is another very well-known star NFL quarterback who is heavily involved in cryptocurrencies in 2021. Brady has not yet stated that the NFL will pay him in bitcoin, but he will be paid in cryptocurrency by the FTX exchange after taking a stake in Sam Bankman-Fried's exchange and will serve as a brand ambassador.
However, Brady is not only dabbling in crypto assets. In April, the iconic football star launched his own NFT platform called Autograph to attract top talent in sports, entertainment, fashion and pop culture.
Brady's relationship with cryptocurrencies doesn't end there, though. In late October, Brady notched his 600th career touchdown pass, an NFL high and bolstering Brady's status as the leading touchdown passer in league history. Brady paid 1 bitcoin to the fan who initially gave the ball to the catcher who completed the touchdown.
The bitcoin was worth about $62,000 at the time of the game, but the ball itself could be worth more than $500,000, according to sports memorabilia auction company Goldin Auctions.
Odell Beckham Jr.
Odell Beckham Jr. followed in the footsteps of Aaron Rodgers, announcing in late November that he had partnered with Cash App to receive his salary from the NFL in BTC. His contract stipulates that he will receive approximately $4.25 million from the NFL this season.
The Los Angeles Rams wide receiver has told fans he is donating $1 million in bitcoin as part of a new partnership with Cash App. Odell Beckham Jr. appears to be no stranger to the cryptocurrency and NFT scene, as he has a Crypto Punk NFT on his Twitter profile.
If you haven’t noticed, Jack Dorsey’s Cash App has ties to both OBJ and Aaron Rodgers’ BTC wage protocol. The payment service app has had a huge run in the first three quarters of 2021, bringing in nearly $10 billion in revenue from 36 million active users and 100 million downloads.
Trevor Lawrence
New star quarterback Trevor Lawrence of the Carolina Panthers has joined the ranks of NFL superstars openly accepting crypto payments. However, Lawrence did not have a direct deal with the NFL. The crypto compensation for the top 2021 NFL rookie comes from an endorsement deal with crypto portfolio app FTX (formerly known as Blockfolio).
The value of the deal has not been disclosed, but if Lawrence has been holding onto his cryptocurrency earnings, it is likely that he has enjoyed an increase in value, especially Solana (SOL). Since the deal was announced in late April, the total market capitalization of the crypto market has increased by about $500 billion.
Saquon Barkley
New York Giants superstar running back Saquon Barkley revealed in July that he was converting all of his endorsement payments into bitcoin. Like most of the others on this list, Barkley is not directly paid in cryptocurrency. Instead, he is exchanging some of his cash earnings for cryptocurrencies.
Barkley is using the Strike payment app to get his bitcoins. He’s not the first NFL player to use Strike to buy bitcoin with his salary, though. Last year, former NFL offensive lineman Russel Okung became the first player to publicly share that he used Strike to convert his NFL salary into Bitcoin.
The reason why Barkley is trying to accumulate wealth through Bitcoin is because NFL players have shorter tenures. On July 15, he told The Best Business Show host Anthony Pompliano:
"When you look at players like Kevin Durant and LeBron James and Tom Brady in the world, you want to create generations of wealth, but with my sport and where I am, And coming back from an injury, you can't do that. When you don't play football for a year, you realize that the game can be taken away from you."
Sean Culkin
Kansas City Chiefs tight end Sean Culkin has opened up about his plans to convert his entire NFL salary into Bitcoin. While others on that list have only pledged to exchange a portion of their salary into bitcoin or accept cryptocurrency payments for endorsements, Culkin is converting his entire salary into bitcoin.
Like Saquon Barkley, Culkin's reasons for turning to cryptocurrencies have to do with the short half-lives of players prevalent in the league. According to Statista, the average time most players spend in the NFL is 3.3 years. Culkin said in a statement:
"Given my profession - especially its physical demands and ephemeral nature - it made the most sense to receive remuneration in sound currency, which I believe will preserve its purchasing power over time."
Aaron Jones
Last but not least on the list of NFL stars earning cryptocurrency is Aaron Jones of the Green Bay Packers. In September, the running back signed a deal with FTX to become an ambassador for the exchange. Like the Tom Brady deal, Jones bought a stake in the exchange.
Jones will also integrate the FTX Pay platform into his own charity website, enabling it to accept cryptocurrency donations.
Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.
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