The world is evolving swiftly before our very eyes. Innovations in science and technology are a constant, and a new source of decentralized money has emerged in the form of cryptocurrency.
Michigan quarterback Cade McNamara is getting in on the cryptocurrency action, becoming one of the first collegiate athletes to be paid in crypto. As first reported by Wolverine Digest’s Brandon Brown, McNamara will be paid in cryptocurrency ($MORE) after signing an NIL deal with MORE Management, LLC.
McNamara will receive crypto for social media postings along with personal appearances at MORE events (after the season is over).
“It took some vision on Cade’s part,” MORE spokesperson Kate Ellis told Maize n Brew. “This is pretty cutting edge compared to most NIL deals — it’s not just t-shirts with your number on it.”
“Couldn’t be more excited to join MORE. I am looking forward to learning more about crypto and being part of this great organization,” McNamara said.
Peter Klamka, founder and CEO of MORE, believes that many college players will follow McNamara and enter the world of cryptocurrency. “We are pleased to be working with Cade. With the rapidly growing interest in cryptocurrency and a number of 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,” Klamka said in the press release.
Per CoinMarketCap, MORE “aims to offer the latest innovation in nightlife, live entertainment, and membership.” MORE has frequent events in Las Vegas and Los Angeles while holding events from coast to coast, including Miami. MORE is also right in the thick of things when it comes to non fungible tokens (NFTs) — with NFTs from the likes of ‘Tiger King’ Joe Exotic and the estate of comedian Chris Farley.
The More Coin price is sitting at $0.06 currently, with a market cap of over $122,000 USD, and a circulating supply of 2,000,000 MORE coins. The coin can be found on cryptocurrency exchange Bittrex — a platform McNamara will now be using.
“Cade will be paid in MORE and he will have a Bittrex account,” Ellis said. “Cade, like any of our NIL athletes, has the option to be paid in cash or crypto — but a portion will be in MORE.”
The better McNamara performs on the field and the better MORE performs on the market, the better for the overall outlook of this partnership.