Top college football prospect Matai Tagoa’i is set to join football stars like Russell Okung, Odell Beckham Jr., and Trevor Lawrence by receiving his compensation in Bitcoin.
The linebacker will be paid part of his earnings via the Strike app after signing a “name, image, and likeness” (NIL) deal with the University of Southern California (USC).
The exact details of his package are not known, but some college football players, such as Shedeur Sanders, have received estimated payouts of up to $4.7 million for signing similar deals.
These types of deals give an organization the right to use an athlete’s likeness as they see fit—for example, in video games, official merchandise, or brand sponsorships.
“This is a game-changer for me,” said Tagoa’i. “By taking part of my NIL earnings in Bitcoin, I’m setting myself up for long-term financial growth.”
The linebacker added that he wanted to “set an example for other young athletes.”
Tagoa’i isn’t the only Bitcoin bull in the world of pro football. Odell Beckham Jr. decided to have his entire $750,000 salary paid in Bitcoin in 2021, in partnership with Block Inc.’s Cash App, after he signed with the Los Angeles Rams.
Beckham later mocked his critics in a post on X, formerly Twitter, after the Bitcoin price broke the $100,000 barrier following the recent U.S. presidential election.
Some NFL players may have done well financially by choosing to receive their multimillion-dollar salaries in Bitcoin. Former Super Bowl champion Russell Okung was the first known NFL star to choose to have his salary paid in Bitcoin when he signed with the Carolina Panthers in 2020. He asked to receive half of his paycheck—$6.6 million—in Bitcoin.
If Okung did not choose to liquidate his Bitcoin, his stake might now be worth north of $20 million, based on price changes since then.
Okung is pushing for more NFL players to get paid in Bitcoin. In November, he announced that he wants to ensure that players in his new flag football league, Bitball, are paid in Bitcoin.
“We’re moving away from seeing athletes go broke and losing generational wealth,” he told Decrypt in an interview.
Bitcoin payments are becoming an increasingly common sight in sports other than the NFL. Golfers Rory McIlroy and Scottie Scheffler were recently paid $5 million each after winning a golf tournament sponsored by Crypto.com.
Edited by Stacy Elliott.
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Will McCurdy
https://decrypt.co/298199/top-college-football-bitcoin-contract
2024-12-20 12:36:47
