Now, top-tier college athletes can monetize their name, image, and likeness or NIL benefits through the NFT market called Fanpage LLC.
Recently, Fanpage LLC started its collaboration with ALC or an athlete licensing company to provide Nonfungible tokens. They have the exclusive rights to work on NFT for the athletes under ALC. Now, they will provide NFT opportunities to student-athletes from the best colleges across the US. This will help the athletes make a profit as per their NIL benefits.
They have started working on several NFT projects for different college athletes coming from different agencies and sports categories.
On February 25th, they launched their first collection of NFT, which will contain NFTs of 7 NCAA student-athletes from three top agencies. The collection is called “the future all-stars”. The markets place will offer NFT of one athlete among the seven in the group each week for the next 7 weeks.
This will act as an opportunity for both ends and will allow the student-athletes supported to gain a piece of NFT that will grow in value eventually. It will also help the athletes to monetize their image, the creation, conceptualizing, inventory management, etc., will be handled by Fanpage NFT marketplace.
What are NIL benefits?
As per the NIL benefits and NVAA laws, US-based athletes who are in college can now monetize their personal brands. NIL benefits or Name, Image, and likeness benefits is a type of profit that a collegiate athlete can earn.
This came after many student-athletes complained that training, playing, attending college, and giving tests have left no space for them to take up any work. This law was passed to help the athlete earn without going against the NCAA laws.
The student-athletes can earn NIL benefits in several ways like monetizing their autograph, selling their merchandise, setting up their own e-commerce, signing up sponsorship deals with brands, creating their own brand, etc.
About Fanpage LLC
Fanpage is a Dallas-based company that functions in the entertainment sector. They allow people to create fan pages of their favorite celebrities from different fields. Only recently, they diversified to the NFT market. They launched their NFT marketplace that is supported by the polygon network.
This marketplace is open for all the artists, celebrities, athletes to sell their digital NFT, also, it allows the buyers and sellers to trade NFT without crypto, buy those using USD credits and debit cards and sell them on the 3rd part platforms as well.
This particular marketplace is making NFT trading easier for beginners. They are not imposing strict restrictions to store them on the platform or only use crypto to buy NFT.
Disclaimer: Cryptogurukul has no relationship to these projects, and there is no endorsement or investment advise. Please seek professional advice before taking financial risks.