The ability for college athletes to get paid for their name, image and likeness under a 2021 agreement has forever changed the face of NCAA Football. A player will see part of his payments made in Bitcoin (CRYPTO: BTC) in 2025, after other professional athletes get into cryptocurrency.
The facts :Since the NIL agreements were approved, top players in NCAA Football have been able to sign contracts worth up to thousands and millions of dollars.
USC's new recruit, Hide Eyeannounced that it will be paid in Bitcoin for part of its NIL payments starting next year, according to what On3 reported.
The agreement was concluded as part of a partnership with Strikea Bitcoin payment application. The NIL collective of USC, House of Victoryhelped facilitate this agreement.
“It’s a game-changer for me. By taking a portion of my NIL earnings into Bitcoin, I'm setting myself up for long-term financial growth. I want to thank Strike, House of Victory and 3Point0 Labs for helping me reach this milestone,” said Tagoa’i.
With this agreement, Tagoa'i would become the first college athlete to receive NIL payments in Bitcoin.
“I am proud to be part of this innovative collaboration that is redefining the future of college sports and finance, and I hope to serve as an example to other young athletes.”
The Strike app was founded by Jack Mallerswho has already contributed to other Bitcoin deals for athletes, expressed his satisfaction with this deal on social media.
“Bitcoin is more than a new technology. Bitcoin is a cultural phenomenon. An idea and a movement that has reached maturity. I’m excited to work with @mataitagoai and other athletes around the world who want to keep the wealth they earn and inspire new generations to continue the movement,” Mr. Mallers tweeted.
A four-star recruit and recruit ranked in the top 100 nationally, the linebacker should be a major asset for USC Football next season. Tagoa'i chose USC over other top schools he had considered, including the University of Oklahoma, the University of Texas, Texas A&M and the University of Washington.
USC finished 6-6 in the 2024 NCAA Football season, with a 4-5 record in the Big Ten Conference, first in the conference.
Read also: Football player makes a bet on Bitcoin in 2021 with his salary, which increased by more than 100%: “I am a simple man, I like to play football and I like to play with my bitcoins”
Why it matters : Former NFL player Russell Okung had already made headlines in 2020 by announcing that half of his salary would be paid in Bitcoin.
There was widespread criticism of this deal, especially when the price of Bitcoin fell. But the former NFL player can now laugh about it, with Bitcoin trading for nearly $100,000, much more than the amount he acquired.
The approval of NIL agreements continues to play an important role in college sports, particularly college football. The deal between Strike and Tagoa'i could be the first in a series of similar deals with other cryptocurrencies.
NIL deals even saw one of the richest people in the world help the University of Michigan recruit a young quarterback, as Benzinga previously shared. NIL is also the reason why Electronic Arts Inc (NASDAQ:EA) launched a new college football game this season, which became the best-selling video game of the year.
BTC price movement : At the time of writing, Bitcoin is trading at $95,924.19, compared to a 52-week trading range of $38,521.89 to $108,268.45. In 2024, Bitcoin is up 117% year to date.
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