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Tuesday, July 23, 2024
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NIL Marketplaces Could Be Key For Athletes In Year 2

  • Opendorse is launching 75 marketplaces with schools that will help athletes connect with fans and brands for deals.
  • It’s an expansion of a six-school pilot program that saw major opportunity growth.
Matt Krohn-USA TODAY Sports

Boosters, alumni, and donors have founded — and funded — name, image, and likeness collectives for schools nationwide.

But there’s another structure that is set up for athletes to capitalize on local interest: NIL marketplaces. 

On Tuesday, Opendorse announced it would be investing heavily in this model — by launching 75 marketplaces specific to schools which help connect athletes and those who want to sponsor them — including fans.

The program will include a wide range of programs, from Power 5 schools like Arizona State and HBCUs like Jackson State to basketball-centric powerhouses like UConn.

Opendorse’s launch is an expansion of a pilot NIL marketplace program it started with six schools. After one month, opportunities grew 193%, the company found.

Opendorse isn’t the only NIL company investing in the marketplace model. 

Last year, MarketPryce launched a similar model with the University of Florida.

INFLCR has a  product called INFLCR+ Local Exchange, which provides a portal for connecting with a particular school’s athletes.

“Fans, donors and local brands badly want to support NIL initiatives — but most don’t know where to even start,” Opendorse CEO Blake Lawrence said in a statement. “Schools that mobilize their alumni and local markets to support student-athletes will become leaders in year-two of NIL.”

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