This week there were numerous reports that Lawrence was able to lose almost MUT 24 Coins because of his contract. In full disclosure, here at SB Nation we did as well -- but the truth is that Lawrence probably didn't lose the Madden NFL 24 money. The confusion arises from the endorsement deal that pre-draft Lawrence signed with "Blockfolio," and the wording the company used when they inked Lawrence in April 2021.
The moment that Lawrence was signed on to Blockfolio they announced the endorsement deal via an announcement in a press release. In the press release, they mentioned the amount they would be paying Lawrence as a "signing bonus," likely as a shorthand approach to sound cool, by depositing the reward into an account in a cryptocurrency wallet for the QB."This partnership is the first time ever which a significant bonus for signing is paid completely in cryptocurrency. The bonus was deposited directly into the player's Blockfolio account and also included Bitcoin, Ethereum and Solana."
There's no such thing as"signing bonuses" or "signing bonus" in relation to an endorsement contract. The endorsement contract is all that's needed. You sign the deal and you're paid -- or in Lawrence's case you receive crypto. Although using the term "sports" seems to be a common practice, it's here where things got a bit more complicated. In the wake of the Blockfolio press release buy MUT 24 Coins, USA Today aggregated the announcement and that the confusion started.