Prospex providing path to NIL for fans, recruits
The NCAA’s Board of Directors adopted an interim NIL rule in the summer of July 2021. With the move, collegiate student-athletes were able to monetize their name, image and likeness.
At the high school level, however, state athletic associations have been forced to make the call if their athletes can turn a profit. As of December 2022, nearly half of the nation allows high schoolers to cash in on their NIL. That number is expected to continue to grow.
Prospex fills the gap between high schoolers attempting to find marketing opportunities with fans wanting to engage in the NIL space. While finding a NIL opportunity is challenging enough for college athletes, high school athletes do not have the infrastructure in place to source NIL opportunities.
The new platform allows college sports fans to purchase, trade and collect digital trading cards of their favorite prospective college athletes. As of Thursday, more than 15 highly-touted recruits have launched NFT cards with Prospex.
“The problem with NIL right now is everyone is still trying to keep secret what athletes are actually worth,” 2023 five-star receiver Jurrion Dickey said. “For me, it is huge to actually be able to see, out in the open, what my true value to fans really is. It’s the way NIL should work for everyone.”
How does Prospex work?
When a player makes a decision and enrolls at their chosen school, fans will receive either a physical or web3 collectible version of the card. Players receive 85% of the sales revenues from the cards sold to fans of the program they decided to enroll in and attend.
Fans who invest in cards of teams that a player does not choose in their recruiting process can turn in their card and receive 90% of their cash back. On3 serves as Prospex’s media partner.
“The thing that is most exciting for us is what our vision is, which is empowering athletes and fans to own the NIL space in a way that serves a real need,” Prospex co-founder Patricia Eiting said in a statement. “The idea is that it’s this fun and engaging platform that helps athletes determine which schools are really going to step up and support them.”
Each athlete can identify up to 10 schools in their decision process, and their marketplace page will feature limited edition digital trading cards associated with the colors of each school under consideration. Participating fans can buy these school-specific cards to show athletes the fans’ passion and support.
Top uncommitted recruits join Prospex
Since the marketplace launched, some of the nation’s top uncommitted prospects have joined the platform.
Five-star recruit Matayo Uiagalelei is set to make his decision on Dec. 21. The defensive lineman has cut his list of schools down to three and has put the trio up on Prospex. The younger brother of former Clemson quarterback DJ Uiagalelei, who is currently in the Transfer Portal, has sold 18 Ohio State cards. Meanwhile, just six Oregon fans have purchased cards while he’s seen no activity from USC.
According to the On3 Recruiting Prediction Machine, it is a tight race for Uiagalelei’s commitment. The Trojans (38.4%) and Buckeyes (33%) are close, while the Ducks (17.3%) are a little farther behind.
Jurrion Dickey has been committed to Oregon since May. But the five-star recruit and No. 2 ranked receiver in the 2023 class is having some fun with his Prospex account. He’s dropped cards featuring three schools: Tennessee, Oregon and Penn State.
The Vols are valuing the top-25 prospect, buying 28 cards. Oregon fans have bought six cards, while Dickey has yet to see a purchase from a Penn State fan.
Another big-time name on Prospex is the nation’s No. 1 athlete in the 2023 class, Nyckoles Harbor. The five-star recruit has yet to make a verbal commitment. And he’s not making the picture any more clear. The Washington, D.C., product has NFT cards for sale featuring Michigan, Maryland, LSU, Georgia and South Carolina.
Harbor has only received interest from Michigan fans, with six Wolverine-themed cards purchased. Currently, the On3 Recruiting Prediction Machine gives Michigan the best chance of landing the recruit at 37%.
A star football player and track athlete, four-star cornerback Rodrick Pleasant has yet to make his college decision. He currently has trading cards for Boston College, Penn State, USC, Oregon, Michigan, and Cal for sale.