While the Black Friday 2022 shopping event is still a week away, holiday deals and sales promotions have already been underway for weeks at some of the nation’s largest retailers. Ray Wimer is an assistant professor of retail practice at…
Non Fungible Tokens and the Future of Collegiate Athletics and Licensing Industry
Syracuse University and Louisiana State University (LSU) have joined RECUR’s NFTU program to bring in their college sports moments and marks. In conjunction, RECUR also announced a key partnership with BrandR Group, a leading agency in group licensing programs with college athletic programs and their students in the Name, Image and Likeness (NIL) category.
“LSU and Syracuse are of the first group of colleges entering into the non fungible token (NFT) arena meaningfully. We believe that their partnerships will only increase fan involvement and reach, while ushering in other universities,” says Trevor George, co-CEO of RECUR. “The relationship with BrandR Group allows us to create new promotional opportunities for student-athletes who can now marry NFTs using university intellectual property with athletes’ NIL. We’re very excited for what’s ahead.”
“The advent of NFTs is another opportunity for us to engage directly and more deeply with our passionate Syracuse fan base around the world. It will further extend our brand and benefit our current and future student-athletes. We look forward to working with the team at RECUR who have established themselves as leaders in the NFT space,” says John Wildhack, director of athletics at Syracuse University.
“As we navigate the future of collegiate sports, it is important that we strategically leverage the opportunities that will positively impact our fans, students and alumni. Our partnership with RECUR creates a unique path forward into the space of NFTs, providing a collectible fan experience, wherever you are,” says Rachel Duffy, director of strategic partnerships and licensing at Syracuse University.
The NFTU marketplace is expected to launch in 2022.