Notre Dame group getting into the NFT marketplace
Amid the fast-evolving NIL era, what it means to be a fan is changing equally as fast — and now involves more than merely joining a program’s booster club. If you want to enjoy the full array of perks enjoyed by the most committed fans of your alma mater, the best way may be by purchasing a school-specific NFT as part of a broad NIL deal for the program’s athletes.
In the latest trend, companies are creating the NFT-NIL model for loyal supporters of blue-blood college sports programs, which historically possess the largest, most passionate fan bases nationwide. Among the most recent to step into this space is Yoke, a South Bend, Ind.-based company whose CEO, Mick Assaf, and his team have launched the Irish Players Club.
On March 1, 5,555 unique leprechaun NFTs (non-fungible tokens) will go on sale for Irish fans. The price point, not yet established, is expected to be between $150 and $250. The Irish Players Club works directly with more than 80 Notre Dame football players; 75 percent of the profits from the NFT drop will go to the players, with the remaining proceeds going to Yoke. There are no duplicate leprechauns among the 5,555 NFTs. More than 80 computer-generated traits — varying hats, necklaces, shirts, facial hair and eyewear — make each NFT distinct.
“As the space grows, you’ll see more universities getting involved in the NFT space,” Assaf told On3. “It is a way to show the world, show the players, show other fans your level of support and your commitment.”
By purchasing the digital collectible, fans will receive access to events and exclusive content. There will be tailgates, ticket giveaways, meet-and-greets with athletes for autograph signings and photos, and question-and-answer video calls with players. There will be former player giveaways of signed, game-worn memorabilia, a discord channel giving fans the ability to communicate directly with current and former players and, perhaps the most interesting, a members-only film breakdown by former or maybe even current players.
This move follows other blue-blood programs venturing into the NFT space to help current athletes monetize their NIL and bring fans an enhanced experience. Several schools or companies have announced plans related to the NFT marketplace, whose sales totaled $25 billion last year, one year after seeing $95 million in sales in 2020, according to data collector DappRadar.
In December, Kentucky men’s basketball team became the first college program to sign a deal with the NFT platform company Mercury. Earlier this month, a partnership announced between Kansas and Mercury affords Jayhawks fans the opportunity to buy limited-edition NFT collectibles from coach Bill Self and men’s basketball players. These types of deals are redefining the fan experience.
“It will be a cornerstone for a lot of programs and a lot of fans for showing exactly who they are interested in supporting,” Assaf said. “Now that I am no longer a player, this experience that these NFTs unlock, to me, is more exciting than some of the benefits you might get from putting your money elsewhere as a fan.”
Yoke works with more than 20,000 athletes across Divisions I, II and III. As for the Irish Players Club, the ability to keep athletes and the fans in the community happy will determine their course of action over the next year and beyond.
“That,” Assaf said, “will be our compass for where we take the project next.”