Name, Image, and Likeness - What it is, Why it Matters.

In July 2021, the US Supreme Court ruled that college athletes have the right to monetize their Name, Image, and Likeness (NIL). The ruling allows 30M US businesses and brands to enlist student-athletes directly for advertising and marketing purposes. The ruling also permits the 182M fans of college athletics to provide direct monetary support to student-athletes. Approximately $917M in transactions were completed in the first year of NIL, and in 2022 it is an estimated $1.14B has been spent on NIL. These deals have largely been “pay for play” transactions driven by university collectives that target the top 1% of the 619K college athletes.

To fully understand where this emerging space is heading, we must address what NIL is. Name, image, and likeness (NIL) refer to the legal rights of individuals to control the use of their name, image, and likeness for commercial purposes. These rights are typically protected under state and federal laws, such as the right of publicity, which allows individuals to control the use of their name and likeness for advertising or other commercial activities. The concept of NIL has gained significant attention in recent years, particularly now in the context of college athletics. NIL is now a part of the fastest-growing and most effective form of marketing available today.

What role does Athletiverse have within this new space? Our primary goal is to bridge the gap between the over 200M new consumers in the space with the 600K+ student-athletes ready to monetize their name, image, and likeness. For us, helping athletes monetize their brand is not enough. As founder Dominyck Bullard often recalls, “Brands and businesses line the walls and foundation of all sporting events. Fans then fill the seats these walls encapsulate. NIL is not about just getting athletes paid but serving the 100s of millions of individuals and their businesses that support that foundation of competitive athletics.”

As we move into 2023, we look forward to beginning and sharing our journey with you all. And a very special thank you to all our friends, advisors, and investors who make this journey possible. Bill Eigner Bryan Bullard Scott Robinson Darren Dummit Christopher Luchey Sanjiv Goyal Patrick Casella Zed Truong