There's been plenty of confusion over Trevor Lawrence's rookie signing bonus and the Madden 23 coins that the number. one overall pick in 2021 could have lost a huge amount of money taking a gamble on cryptocurrency, which , as we've seen has been crashing in recent months.
This week , there were numerous reports that Lawrence has lost nearly $15 million due to his contract. We're not lying, we here at SB Nation we did as well , but the reality is that Lawrence probably didn't lose the Madden NFL 23 funds. The confusion stems from an endorsement contract that was signed prior to the draft Lawrence signed using "Blockfolio," and the language used by the company when they signed Lawrence in April of 2021.
In the year that Lawrence was signed on to Blockfolio they announced their endorsement deal via an announcement in a press release. The press release referred to the amount they paid Lawrence as an "signing bonus," probably as a method of sounding like a sportsperson, claiming they were depositing the bonus in an account in a cryptocurrency wallet for the QB."This collaboration is the first time in history which a substantial signing bonus was paid in cryptocurrency. The bonus was directly deposited to Lawrence's Blockfolio account, and comprised Bitcoin, Ethereum and Solana."
There's nothing like"signing bonus" or "signing bonus" in the context of an endorsement contract. It's just the endorsement contract. When you sign the contract and you're paid or, in the case of Lawrence the crypto. Although the term used in sports isn't a big deal however, this is where things went off the rails. After the Blockfolio press announcement, USA Today aggregated the information and this is where that the confusion started.
The story that was published by Madden NFL 23 incorporated the word "signing bonus" that was mentioned within the Blockfolio press release. It also combined it with Lawrence's real Madden NFL 23 sign-on bonus with the Jaguars and reported that it was $24.1M and using Spotrac as source. source."The presumed number. one overall selection for the 2021 Madden NFL 23 draft, likely to be drafted by Jacksonville Jaguars Jacksonville Jaguars, has partnered with a cryptocurrency-based investment app called Blockfolio and plans to transfer his bonus in an account owned by the firm."
"According to Spotrac the amount of the signing bonus for the No. 1 choice is estimated to be $22.630.055." We now have an endorsement agreement with Blockfolio that is probably quite small in comparison to other endorsement deals that was paid in cryptocurrency -- and the deal has now been linked to Lawrence's massive Madden NFL 23 signing bonus from the league, but misrepresented the fact that the money was deposited into cryptocurrency. It's unclear if this was a genuine error, or an effort to create the story more sexually appealing, we're in the same spot: An endorsement agreement with a crypto-related company was paid in cryptocurrency, and that's all there is to it.
On Tuesday, an author from The Sun Sentinel took information published by Coinjournal and posted an infamous tweet mocking The Jaguars QB. Of of course, we know that this is completely falseas there is no proof that Lawrence invested his $24 million in cryptocurrency. But this fact was mentioned in many stories that claimed Lawrence was a muggle however this was not the situation.
It's all good news. Everyone should not be rooting for someone losing money, even as a source of schadenfreude. Trevor Lawrence is a really charming guy, and it is a bit disappointing to think that he cheated the biggest payoff of his career in football -however, he likely just lost a small portion of the original endorsement deal. It's a pain, but not a major loss.
A Madden NFL 23 participant is at the center of one of the biggest controversies that the league has ever witnessed and the silence of the key players has never been more evident. The latest allegations against Deshaun Watson are being made public and a lawsuit filed for the player has now been expanded to include the Houston Texans, but you'd not be aware of anything happening in the absence of paying attention to Madden NFL 23 directly or the Cleveland Browns.
On May 24 the Commissioner Roger Goodell said the league's investigation into Watson was waning. In the last week, it was announced that the league had concluded its investigation. There's no end to be seen, even though it appears that Madden NFL 23 has reportedly been looking into Watson for the past 15 months.
Through this entire process, buy mut 23 coins has held the position that it will not discuss an ongoing investigation. This is a reasonable expectation for something that could last for just a few months, however this is going on for more than a year. What is the length of time required?