Historically, the NCAA held a monopoly on monetizing the brands of young athletes.
The recent NCAA rule change lets athletes monetize their name, image, and likeness (NIL).
These athletes are going full force into crypto👇🏻
Once the NCAA lost its power to p̶r̶o̶t̶e̶c̶t̶ control athletes, the sponsorship packages immediately started to flow:
• Hercy Miller signed a $2m sponsorship deal
• Miami striker Gilbert Frierson🤝Lamelo Meat Market
• Arkansas WR Trey Knox & his doggo✍️with PetSmart
Crypto primitives naturally enhance the ability for personal monetization via NFTs, social tokens, and more.
Recently, UCLA basketball player @jayl7en became the first NCAA athlete to launch his own social token, $JROCK on @rally_io.
FSU QB @McKenzieMil10 & Miami QB @DeriqKing_ have cofounded @dreamfieldco which lets athletes monetize their NIL where college athletes can make thousands of dollars per hour.
The future athlete monetization is being shaped by athletes, as it should be.
As a fan of college sports, the "student" in student-athlete has always been silent, but at least now the silence can be exchanged for life-altering sponsorship deals rather than school pride.
• Art as an asset has outperformed many asset classes
• Art remains uncorrelated to traditional assets
• Contemporary art outperforms in times of high
inflation
• The wealth gap (and art investor base) continues to
grow
Blockchains are great at replicating a small amount of data on millions of computers across the world, but are often limited in terms of on-chain storage capacity.
Since not every part of the NFT is suitable to be stored on-chain, NFTs leverage other immutable storage solutions.
Generally, an NFT possesses on-chain & off-chain info.
On-chain information:
• The NFT ID (e.g. Punk #2517) that has metadata associated with it
• TokenURI – Unique resource identifier (URI) that points towards where the content of that NFT is stored (URL, server, IPFS, etc)
The Nonfungible Token (#NFT) landscape has evolved from a small ecosystem of collectors and enthusiasts to an emerging multichain ecosystem at the forefront of culture and technology.
To date, the NFT landscape has been dominated by Ethereum, Flow, and to a lesser extent Wax.
It’s likely that many NFT applications will transition from Ethereum mainnet onto Layer-2 solutions or test out other blockchains for specific applications.
This isn't to say that Punks, Meebits, Bored Apes, or other #NFT avatar/collectibles can't be valuable or won't continue to rise in value.
But let's all just be clear on what people are buying – status and to a lesser extent, community.
In regards to "Punks = Store of Value"
To a degree, yes Punks or NFT collectibles can be a greater store of value than their legacy luxury goods counterparts (e.g. handbags and Rolex's deteriorate over time) but the drivers of social status change over time.