• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

NCAA Athletes Cash In Day One of NIL: ‘It’s Like the Super Bowl’

  • The NIL era for NCAA athletes finally arrived on July 1 and athletes wasted no time cashing in.
  • Apparel shops, social media endorsements, and NFTs were some of the first NIL ventures.
Photo: Maddie Washburn – Nebraska Communications/Design: Alex Brooks

A Times Square billboard is flashing the social media accounts of LSU gymnast Olivia Dunn and an announcement about the endorsement deal signed by Fresno State basketball players Haley and Hanna Cavinder.

A fireworks store in Iowa called Boomin Iowa Fireworks hosted Hawkeyes basketball player Jordan Bohannon while he met fans and signed autographs.

At events in Florida, the ink is drying on the contracts that FSU quarterback McKenzie Milton and Miami quarterback D’Eriq King signed to be official co-founders of NIL marketplace, Dreamfield.

After years of advocacy and a week of sleepless nights for many company founders, the name, image, and likeness era finally arrived in NCAA sports at midnight, July 1. And on day one, athletes wasted no time cashing in.

“It’s here today. It is nuts. … It’s like the Super Bowl,” NIL platform MarketPryce co-founder and CEO Jason Bergman told FOS. “It’s like our team is in the Super Bowl because now, it’s like the lights are on, and we’re running a million miles an hour.”

We’ve already seen high-profile deals like Unilever’s commitment to spend $5 million over the next five years signing marketing deals with college athletes to promote Degree deodorant. We’ve seen Arkansas wide receiver Trey Knox (and his husky) signing with PetSmart. 

But several trends have emerged in the more creative ways that athletes are profiting. 

For starters, athletes like Bohannon and Nebraska volleyball player Lexi Sun have launched their own apparel shops.

“I’ve been working on this fun / happy lil project for some time now and am stoked I get to share it [with] yall,” Sun, who was estimated to make almost $40,000 annually, wrote on Twitter.

The number of athletes dropping apparel surprised Opendorse co-founder and CEO Blake Lawrence, who didn’t think that merchandise — a rather traditional way to make money in sports — would be as popular.

His best guess as to why it’s attractive? “Most student-athletes can see it,” Lawrence told FOS. “It makes sense in their head.”

Here’s a trend that doesn’t surprise him: brands developing deals similar to college campus ambassador programs. Through Opendorse’s platform, GoPuff offered a small social media sponsorship deal to every single college athlete — and already, hundreds have participated. 

The deal not only illustrates how brands want to tap into large groups of athletes, but also that they’re interested in athletes playing all sports in all divisions. 

It’s not just T-shirts and Instagram posts. Just like NFTs roared to life on the pro stage, they’re already becoming popular for college athletes. King and Milton are selling NFTs on Dreamfield’s platform.

“We’re just extremely excited,” Dreamfield co-founder Luis Pardillo told FOS.

And Skybox, an NFT marketplace, will soon be home to NFTs from Division I football players, basketball players, and future Olympians, according to Derrick Thomas, a former D-I basketball player who created Skybox.

Thomas thinks that NFTs provide an opportunity for athletes to control their own visibility, rather than being “at the whim” of social media algorithms. 

“To see this time come is truly remarkable, and truly a dream come true,” Thomas said.

The thousands of deals signed in just the first day of NIL are only the beginning. Jim Cavale, founder and CEO of INFLCR, thinks that the entrepreneurial ventures that athletes launch will be part of the next wave of NIL money-making opportunities. 

“The student athletes who take the most initiative are going to be the most successful,” Cavale told FOS. 

NIL rights might be just the beginning. One group of current and former athletes are using the spotlight on college sports as an opportunity to demand more rights — from gender equity to mental health services. They used the NIL chaos to launch a nonprofit called the United College Athlete Advocates.

“It really is this perfect storm in our eyes, with the Supreme Court decision, with NIL rolling out,” said former UCLA soccer player Kaiya McCullough, a founder of the UCAA, during a Zoom call. “It feels like the momentum is there.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Apr 1, 2024; Portland, OR, USA; USC Trojans guard JuJu Watkins (12) drives to the basket during the second half against UConn Huskies guard Paige Bueckers (5) in the finals of the Portland Regional of the NCAA Tournament at the Moda Center.

Women’s College Basketball Begins Its Star-Studded Post–Caitlin Clark Era

Women outdrew the men in the championship with 18.9 million viewers.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
Eastern New Mexico forward Jose Murillo (33) passes the ball between Grand Canyon University forward Sammie Yeanay (23) and guard Makaih Williams (2) during an exhibition game at Global Credit Union Arena in Phoenix on Oct. 29, 2024.

Grand Canyon University to Join Mountain West in 2026

The Mountain West has added three new schools after the Pac-12 poached five from the conference.
podcast thumbnail mobile
Front Office Sports Today

NFL Teams Face Crossroads at Season’s Halfway Point

0:00

Featured Today

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Donald Trump holding a basketball in the White House
October 30, 2024

Mavericks Owner’s $100 Million Trump Donation Dwarfs All Other Sports Owner Political Giving

Dr. Miriam Adelson is one of the most powerful donors in U.S. politics.
Oct 19, 2024; Gainesville, Florida, USA; Florida Gators quarterback DJ Lagway (2) shakes hands while entering the locker room after a game against the Kentucky Wildcats at Ben Hill Griffin Stadium.
October 28, 2024

NIL Director Is the Trendy New Job in College Sports. But the Role Is Chaos

Athletic departments nationwide are hiring for what’s become their most important position.
FuboTV signage
opinion
October 26, 2024

Fubo’s Fight Against Streaming Giants Feels Futile

Fubo notched a legal win, but subs and stock still slump.

New Era, New Chaos? New CFP Team Rankings Explained

The new College Football Playoff system’s complexities might confuse some college football fans.
Donald Trump
November 4, 2024

ESPN Will Drop First 12-Team CFP Rankings in Heart of Election Night

The network traditionally hasn’t shied away from going up against election coverage.
Oct 4, 2024; Durham, NC, USA; Duke Blue Devils guard Cooper Flagg (2) is introduced to the fans during Countdown to Craziness at Cameron Indoor Stadium.
November 4, 2024

All Eyes on Cooper Flagg As College Basketball Tips Off

He makes his NCAA debut with Duke on Monday.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
November 1, 2024

Olympic Sport College Coaches Hire Lobbyists Amid NCAA Upheaval

The NCAA and power conferences have spent millions on an effort to preserve amateurism.
The Fox Big Noon Kickoff crew broadcasts from the endzone prior to the NCAA football game between the Ohio State Buckeyes and the Nebraska Cornhuskers at Ohio Stadium in Columbus on Saturday, Oct. 26, 2024.
October 31, 2024

ESPN-Fox Pregame Battle in Focus at Ohio State–Penn State

Fox has the game broadcast at noon ET.
October 28, 2024

College Football Playoff Expansion Already Heating Up Off-Field Drama

ESPN’s and Fox’s rival pregame shows will broadcast from the same campus.
October 25, 2024

College Coaching Legends Say Their Players Are Professionals

More and more coaches admit they see their players as pros.