Similar to their football counterpart, the Miami Hurricanes’ entire men’s basketball team is being offered the opportunity to profit off endorsements through college sports’ new name, image and likeness (NIL) legislation.
Every Miami men’s basketball player is being offered a $6,000-per-year endorsement deal by Yummy Crypto, a charity cryptocurrency company that launched in May.
Corey Johnson, Yummy Crypto’s director of partnerships, said players will receive the crypto equivalent of $500 every month in cryptocurrency exchange wallets created for them where they can exchange their cryptocurrency into their bank accounts.
The players who decide to opt into the deal will start to receive monthly payments of $500 for one year starting in September and will endorse Yummy Crypto through their social media amounts or in-person appearances by promoting Yummy Crypto’s merchandise, charitable actions or other marketing activities.