Yummy Crypto is offering $500 each month for a year to the University of Miami basketball players, totalling $6,000 for an athlete a year.
Yummy Crypto, a cryptocurrency that donates 3% of all transactions to charity, is completing sponsorship deals with qualifying Hurricane basketball players worth $500 each month for a year, for a total of $6,000 per athlete per year.
According to Corey Huerta Johnson, Yummy Crypto’s Director of Partnerships, the only participants who are unable to engage are foreign individuals on student visas that prevent them from working.
Seven or eight Hurricanes, according to Johnson, have signalled that they want to participate in the agreement. The cryptocurrency will be transferred into the gamers’ cryptocurrency exchange wallets, which they can then trade for US dollars and deposit directly into their bank accounts.
In exchange, UM basketball players will use social media and personal appearances to promote the Yummy Crypto brand and charity projects.
Yummy Crypto has donated $1 million to the Binance Lunch for Children charity to fight world hunger since its start in May, as well as contributing to other humanitarian causes.
Johnson, a former Lehigh University walk-on basketball player, is pleased that the new NCAA legislation allows collegiate players to earn money.
“Even though they’re on full scholarships, I know what these men go through,” he said. “There are occasions when they need some extra income or side money to go out to supper or grab something from the grocery store, or if the dining hall was closed after practice and they missed it.
We saw Dan Lambert’s (American Top Team founder) contract with the UM football team and decided to use it as a model for the basketball team.”
Yummy Crypto picked Miami, according to Johnson, partially because Mayor Francis Suarez has stated that he wants the city to be a cryptocurrency hub.
“We noticed that and thought, ‘What if we could get our foot in the door in Miami and prove to the public that cryptocurrency is a genuine thing with real-life applications while simultaneously helping these guys and doing some community service?’” he added.
The contract is being made in collaboration with Lambert’s organization, Bring Back The U, which put together a $500,000 endorsement deal for Miami football players, as first reported by CaneSport.