Cade Cunningham, the Pistons’ No. 1 pick, is in the money.
That’s not just with his NBA rookie contract, which will pay him $10 million as the first overall pick. Cunningham also will make significantly more in endorsements off the court.
One of those is an agreement between Cunningham and BlockFi, a financial-services company that deals in cryptocurrency. BlockFi announced a multi-year deal with Cunningham that will pay the 19-year-old his endorsement signing bonus in Bitcoin in BlockFi account.
Cunningham, in return, will collaborate with the company to produce educational videos, interviews and other promotional considerations to help promote financial awareness and cryptocurrencies.
“I’m excited to partner with BlockFi to really diversify my portfolio and manage my crypto assets, especially as they become more important in personal finance,” Cunningham said in a joint statement. “For me, it’s not just about setting up myself for financial success long-term but also to educate future generations on financial wellness.”
BlockFi is looking to add a recognizable face to its promotions, and Cunningham already have carved a niche with the Pistons fan base. With the partnership, they hope to reach out to different parts of the community that may not have had experience in cryptocurrency and financial flexibility.
“Anyone who watched a minute of Cade’s career thus far knows he is the future of basketball. What excites us is his interest in and commitment to cryptocurrencies, which we believe are the future of finance,” said Zac Prince, CEO & Co-founder of BlockFi. “Cade is using his platform to educate basketball fans about the importance and potential of cryptocurrencies.
“That should be lauded, and BlockFi will support him every step of the way.”
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rod.beard@detroitnews.com
Twitter.com: @detnewsRodBeard