- Southwestern has announced that they are taking the major risk of entering the NFT Universe.
- The Department of Intercollegiate Athletics also has a three year exclusive partnership.
- They have a partnership with marketplace Legacy League as well as Non-Fungible Token.
The first DIII institution, Southwestern has decided to take a risk in order to enter the world of NFTs. The Department of Intercollegiate Athletics from the school has a three-year exclusive partnership with marketplace Legacy League and Non-Fungible Token platform. This will allow all the fans to purchase digital collectibles from officially licensed.
The Associate Director of Intercollegiate Athletics, Doug Ross, said; “This just happens to be a digital item as opposed to a baseball or something like that.”
Ross has also stated that “There is a marketplace, so not only can they collect it, but they can keep it, they can have it to view or share it with their friends or they can buy or sell the asset as well,”
Think of the images of the players, championships, or stadiums in a digital format.
The Co-founder of Legacy League, Kurt Hallead has said that “There is an opportunity here with the change in the laws related to name image and likeness as it relates to college athletes,”. “We thought it would be a really neat way to help college athletes monetize their name image and likeness by using this new technology.”
During the year 2016, the first NFT available will be a 3D replica of the SCAC Football Championship ring. All the other additional NFTs will be launched later when scheduled.
Before the end of the month of March, the marketplace will come to exist.