University Of Arizona And Athlete Assets Sign First Commercial Copyright License From NIL NFT’s
TUCSON, Ariz., March 17, 2022 /PRNewswire/ — The University of Arizona and Athlete Assets have signed the first commercial license agreement related to using university-owned copyright, logos, and marks for the creation of NIL (name, image, likeness) themed blockchain digital assets (NFTs or non-fungible tokens). The commercial license will support the first-ever NFT deal that enables collectibles to be made for every active student-athlete at the University of Arizona. The program provides each student athlete at least 2 different individually personalized digital collectibles (60 total units for sale) sold by Athlete Assets, earning the student athlete more than 80% of net revenue.
“This license has truly been years in the making. We began discussing the application potentials of blockchain digital assets with Tech Launch Arizona nearly 4 years ago. We’re thrilled to be providing the first NIL NFT program for all student-athletes across all sports, not just the super stars,” states IPAssets CEO, Adam Small (Athlete Assets parent company).
Commencing with the Arizona Football team, Athlete Assets has created individualized collectibles featuring the NIL of each respective player. The collectibles will be sold through AthleteAssets.com for US dollars and cryptocurrency. In most cases, athletes earn a significant portion of net revenue for providing their NIL and marketing their respective collectible(s). Athletes earn a significant portion of net revenue for providing their NIL and marketing their collectibles, in most cases. The Arizona Football team collection will be kicked off on March 17th, including a special limited edition set for new 5-star WR Tetairoa McMillan (Click HERE for Auction). The rest of the 2022 University of Arizona Football collection can be found HERE.
Head University of Arizona Football Coach Jedd Fisch stated, “Arizona Football is excited that Athlete Assets has secured this unique license, and we are looking forward to the opportunities they can provide student-athletes.”
Athlete Assets does not just create and sell digital collectibles. Its parent company IPAssets Technology provides a suite of vertically integrated blockchain tools, including wallets, asset viewers, cloud storage, and a virtual reality gallery releasing this summer. This vertically integrated approach helps manage costs and long-term viability for the commercial license.
Athlete Assets is currently working with other Universities and Athletic Departments to license similar trademarks to support their student athletes and their NIL objectives.
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SOURCE Athlete Assets