CHICAGO (NewsNation Now) — It’s payday for student athletes who can now ink endorsement deals in 10 states and start getting paid for their name, image, and likeness. By 2025, at least 25 states will allow student athletes to profit off their personal brand.

University of Miami quarterback D’Eriq King is the first player to secure an endorsement after signing a $20,000 deal with College Hunks Hauling Junk and another sponsor at midnight.

King said he was thinking about the magnitude of what this means for college athletes while signing the contract.

“It was a big moment for everybody in college sports so I was just excited to be one of the first,” he said.

Omar Soliman, CEO of the moving company College Hunks Hauling Junk, says he signed the contract with King at 12:01 a.m.

“Who better to make history first than King? He’s a living, breathing testament to our company’s core values and also — just beyond that — he’s just a guy that’s got a lot of grit and somebody that people should look up to.”

Watch the full interview with D’Eriq King in the player above.