TL;DR Breakdown
• Michigan Wolverines athlete Cade McNamara signs first crypto pay deal.
• College athletes may lend their image and name for cryptocurrency advertising by NCAA order.
Cade McNamara, the Michigan team quarterback, will receive crypto pay in a recently new deal. More Management’s crypto services company has announced that they had agreed on a deal with McNamara to advertise their platform.
More Management’s goal is to gain momentum in cryptocurrency trading, and they believe McNamara can help them meet those goals. The Michigan player is thought to be the first athlete to be paid in crypto for a valid crypto agreement/deal.
Advertising crypto pay is normalized in the sports world
Cade McNamara, the Michigan Wolverines quarterback, is excited to be part of the team at More Management and receive crypto pay. The athlete wants to learn about crypto and how the entire cryptocurrency pay system works and has urged people to do the same.
The college-level sports scheme was renewed in July when the National Collegiate Athletic Association admitted external payments. Regardless of their source of income, companies can pay athletes for their image to run various advertising campaigns to boost them.
In early August, Yummy Crypto, a decentralized e-commerce company, made a tempting offer to the Florida State team. The crypto exchange offered to pay each player $500 in crypto to advertise their services online.
However, it is unknown how much money McNamara signed the advertising contract, but it is expected to be a great offer, according to reliable sources. Some athlete friends have also signed agreements to advertise T-shirts or test some NFT games with users.
McNamara made his debut last season with 43 of 71 points, where he crossed 420 yards and made 5 touchdowns. These plays marked a milestone for the athlete, who has now received several online advertising proposals.
More Management seeks to earn a position in the crypto market
More Management is anxious to work alongside Cade McNamara. The company CEO, Peter Klamka, thinks that the cryptocurrencies adoption on his platform will increase with McNamara. Klamka thinks this contract with the athlete will motivate other players to accept crypto pay for advertising.
M More Management wants to have a long-term relationship with McNamara. However, the crypto company did not specify with which token they will pay the athlete.
Cade Cunningham, a Detroit Pistons player, had earlier agreed to a deal with the BlockFi company. Similarly, Cunningham will lend his image and name to advertise the platform offering his financial services. According to reports, the athlete signed the contract for payments in Bitcoin, which is a great option.
