Good morning, and thanks for your continued support of Extra Points.
I've spent a lot of time writing about NIL over these last two years. I talk to marketplace CEOs, collective managers, brands, athletes, athletic administrators, advocates, reporters and just about anybody else who might be involved in this nascent industry. I'll keep doing that, too, because I still believe this is one of the most important off-the-field developments in college sports, even if I've become a bit more skeptical about the entire enterprise recently.
The bulk of NIL industry coverage typically concerns either social media endorsements, or collectives. That's not a criticism...social media endorsements are well-supported by NIL marketplaces and supporting influencer infrastructure, and they remain some of the easiest NIL opportunities for a typical athlete to find. Collectives are the source for some of the largest headline-grabbing dollar amounts, and have unquestionably emerged as a significant fundraising and recruiting force.
But I believe there are three other potential big NIL opportunities out there that have little to do with collectives, Instagram, or even NIL marketplace exchanges at all. These are areas where I do not believe a dominant company has emerged, or where industry best practices have solidified. The first school or firm to figure some of these questions out will have a real leg up on the competition, in my humble opinion.