Syracuse Becomes First School to Create NFT for Student-Athletes
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Syracuse University is the first NCAA school to create non-fungible tokens (NFT) for its student-athletes that allows those student-athletes to profit under name image and likeness (NIL) rules. The school announced the historic deal through its partnership with Fantastec SWAP as part of the ACCELERATE program, designed to aid student-athletes in NIL opportunities.
NFT are digital collectibles that can be collected, swapped or traded by fans or collectors through the Fantastec SWAP app.
More from a Syracuse Athletics press release:
The "Season Preview Collection" will debut on June 23rd with additional utilities available throughout 2022-23.
"We are thrilled that our student-athletes will benefit from their likeness in conjunction with the Block S," said Syracuse Director of Athletics . "Fantastec SWAP is an industry leader in creativity and technical prowess. As the first NCAA program to collaborate with Fantastec SWAP, our student-athletes have another unique opportunity to expand their Name, Image and Likeness (NIL) portfolio and engage with our fans in a new and innovative way."
SWAP uniquely produces NFTs at scale meaning any or all of the 600+ Syracuse student-athletes signing up for the 2022-23 campaign can have their own NFTs as part of the official Syracuse sports collection.
The leading NFT sports creator, Fantastec SWAP has produced industry leading NFTs for the top European football/soccer clubs including Arsenal, Borussia Dortmund, and 14-times European Champions Real Madrid since 2019. Fantastec SWAP is uniquely available via the APP stores allowing easy access for the mobile-first generation.
Fantastec SWAP is built on the Flow blockchain, meaning Syracuse student-athletes will be part of the largest sports NFT ecosystem that also houses NBA Top Shot, the UFC, and NFL All Day.
"Syracuse is an ideal launch partner for our NCAA initiatives because their enthusiasm matches ours in creating unique NFT products that will be engaging to fans while benefiting student-athletes," said Steve Madincea, Co-Founder and Managing Partner at Fantastec SWAP. "Together, we plan to maximize the utility of what NFTs can truly accomplish for Syracuse supporters."
The Syracuse NFTs will be another benefit in the athletics department's ACCELERATE program, which includes INFLCR Exchange and the Brandr Group licensing agreement. INFLCR Exchange is a custom design student-athlete business registry that connects businesses, donors, alumni, and other interested parties with student-athletes. The Brandr co-licensing program allows student-athletes to grow their personal brands and profit from their NIL in licensing and marketing programs co-branded with the Syracuse University logos and marks. ACCELERATE also includes a for-credit Syracuse University class and other educational and business tools for student-athletes.
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