The Next Wave of NIL Companies
Now Presenting This Week in NIL, a newsletter about everything you need to know to keep up with the rapidly changing world of name, image, and likeness in college sports!
A relatively quiet week for NIL gives us a chance to explore some future trends for the industry. I appreciate you checking it out!
This Week in NIL:
📇 The next wave of NIL Companies
🏀Crypto Giant makes a big splash with Kentucky Basketball
💵Drink Riff offers college athletes equity in exchange for endorsement
The rise of University-Specific NIL Platforms
ALC Auburn. Montlake Futures. Happy Valley Talent. All of these companies aim to help student-athletes at a specific University get NIL deals. “For Auburn supporters there will be one place to go to support Auburn student-athletes by purchasing their NIL and it will be through this company," said ALC Auburn attorney and former Auburn Athlete Rick Davidson. University of Washington's "Montlake Futures" is spearheaded by former UW football coach Chris Peterson and has already allied with Amazon, Costco, and Nordstrom.
Our takeaway:
Prior to being fired this week, TCU football coach Gary Patterson claimed SEC schools have offered compensation through NIL to his players and recruits. While these claims may be unfounded, it is clear NIL compensation will play a big future in recruiting and these school-specific companies both help with that goal as well as giving back to programs they love. With the early six-figure success of The Gator Collective at Florida, I wouldn't be surprised to see these companies expanding into media as well.
Disclosure: 8 In The Box Productions is currently working with The Gator Collective
Crypto Giant makes a big splash with Kentucky Basketball
FTX.US, a cryptocurrency exchange well known for its partnership with Tom Brady (who is an equity holder), entered a team-wide NIL Deal with Kentucky Men's Basketball. While players will be paid in USD, they will be able to create and sell their ownNFTs on the FTX marketplace. At a recent Front Office Sports webinar, Sina Nader (FTX.US head of partnerships), said NIL is a "super exciting opportunity" for the company and this is their latest venture since partnering with "Last Chance U" star Deshaun Highler.
Our takeaway:
With the daily cryptocurrency trade volume rising to $112 Billion per day, crypto and NFT exchanges like FTX are poised to be major players in the next phase of the internet. Kentucky Men's Basketball is one of the most marketable teams in the country (800,000+ followerson Twitter alone) and having both the team and individuals promoting the FTX brand (like they just did with the new Call of Duty Game) is extremely valuable.
Drink Riff offers college athletes equity in exchange for endorsement
The Bend energy drink company Riff is launching a plant-powered energy drink that will be offering equity shares to student-athletes. Why is this important?
Ownership.
Even if student-athletes are getting a tiny sliver of equity, ownership and a consistent revenue stream is a key to long-term financial success. It's how Kobe Bryant's estate will get $400 Million after his shares in BodyArmor were bought by Coca-Cola and Serena Williams has a stake in the Miami Dolphins. NIL agreements like this are the first step toward deals with equity ownership.
Top NIL Deals you need to 👀
Jamie Ortega x Epoch Lax
SDSU Football x College Hunks Hauling Junk
MarketPryce Florida x Kyle Pitts Helmet Giveaway
Darien Rencher/Player's Club Podcast x MOGL
Thanks so much for reading! This Week in NIL is brought to you by the team at 8 In The Box Productions: we create branded video content for student-athletes and brands. If you want to get in touch or provide any feedback our email is here! Finally, if you enjoyed this newsletter please consider subscribing and sharing with someone who you think would enjoy it too!