Michigan football player Cade McNamara has teamed up with a company called More Management. The clincher? The up-and-coming quarterback is signing a new deal that will allow him to get paid in crypto for appearances and social media posts.
Cade McNamara Is Working with More Management
More Management deals in crypto membership services and digital collectibles like non-fungible tokens (NFTs). The firm also boasts its own digital asset known as “MORE,” which trades on Bittrex. Now entering his junior year in college, McNamara is set to become the first college-level footballer to be paid in digital currency for at least part of his work in the sport.
In a statement, McNamara expressed his excitement over the new deal, commenting:
Couldn’t be more excited to join MORE. I am looking forward to learning more about crypto and being part of this great organization.
Initially, college-level sportsmen were in the game only because they loved it. However, it was rare that they earned any serious compensation for their work. All this changed on July 1 of this year when the NCAA permitted new rules allowing student athletes to garner funds from outside firms who wanted to use their names, images, and likenesses for advertising purposes.
Things ultimately got off to a big start when crypto firm Yummy Crypto entered a contract with the Florida State football team in early August. The terms of the contract would see each player garnering $500 each for assorted social media posts.
Many of McNamara’s teammates are also in on endorsement deals. Several have engaged in contracts with outside companies to either sell T-shirts and clothing or play video games online with customers.
More Management later issued a press release expressing interest in McNamara’s career. The company says:
We are pleased to be working with Cade. With the rapidly growing interest in cryptocurrency and several professional athletes now getting paid in crypto, we expect other college athletes to soon follow Cade’s lead in seeking partnerships within the cryptocurrency community. We are looking forward to having Cade as part of the MORE family.
McNamara is not the first athlete to engage in a crypto deal of some kind. The biggest example comes in the form of Russell Okung of the Carolina Panthers. Okung was set to receive a $13 million annual salary for his work with the team, though it was later announced he would be converting half of that into bitcoin.
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