Last year non-fungible token (NFT) platform Recur raised $50 million to penetrate the new collegiate sports rights industry. Less than six months later, Recur has just announced the launch of NFTU, a digital marketplace dedicated to college sport NFTs. Its debut series Tip Off features collectibles of over 100 current and former basketball players across 50 American universities.
Until last year, the NCAA, the body that regulates collegiate sports in the U.S., did not allow student athletes to profit from their name, image, and likeness (NIL). As such, athletes couldn’t launch branded products, sell signed jerseys, or partner with other companies to promote their products. In June last year, the Supreme Court ruled that the regulation violated antitrust laws which opened the doors to many opportunities for athletes and brands alike.
Recur was one of the first platforms in the NFT space to announce plans to create a digital space dedicated to college sports. Since the announcement, individual projects between athletes and NFT providers have dropped, including Michigan’s football player Blake Corum and Notre Dame’s Jack Coan partnership with Draftly.
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