Professional athletes have recently jumped into the Non-Fungible Token (NFT) market and made millions on monetizing their name, image, and likeness (NIL).
By way of example, NBA athlete LeBron James sold an NFT for around $400k in honor of Kobe Bryant’s reverse windmill dunk.
Other professional athletes have entered the NFT marketplace for collectibles related to their moments in their respective sports. From Tom Brady to Steph Curry, professionals have been eagerly entering the non-fungible token market to garner more value for autographs, videos, social media, and other digital content.
With the recent NCAA policy change, college athletes can now join the NFT market to auction, sell, and monetize their brand. Shortly after the new guidelines took effect at midnight on July 1, Florida State quarterback McKenzie Milton entered the NFT market with digital trading cards. To be sure, many other college athletes will soon follow Milton’s lead.
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