When NFTs first started to become popular, many sports fans thought of them as the next-generation version of trading cards. Since then, many platforms have come out with this type of user in mind.
High school and college sports are about to start using this idea. VerifiedInk announced on Friday that its marketplace will soon be open for business. Athletes will be able to design and sell NFTs and keep 94 percent of the money they make.
On July 19, the kickoff will be led by an NFT made by Naasir Cunningham, the top boy’s basketball prospect for the class of 2024. A press release from VerifiedInk says that the shooting guard is one of more than 500 high school and college athletes who are part of the platform.
Nate Slutzky, co-founder and co-CEO of the company, said that NIL allowances made it possible for this NFT plan to grow.
Slutzky said in a statement, “NIL rule changes have made it possible for non-professional athletes to start getting a cut of the profits of the multibillion-dollar sports they play.” “But the brands that license athletes’ NIL take advantage of the fact that young athletes are trying to find their way in a new and uncertain world. VerfiedInk gives athletes the power to own their brands forever.
A press release says that the Sixers Innovation Lab, based in New Jersey, led a $1.2 million seed round for VerifiedInk.